News Highlights: Top Company News of the Day
Coty to Appoint Chairman Peter Harf as CEO to Spearhead Turnaround
Coty is set to appoint its fourth new chief executive in less
than four years, as the cosmetics and fragrance maker strives to
revive slumping sales and reduce its burdensome debt load.
SpaceX Craft Docks With Space Station, Ushering in New Era
Elon Musk's SpaceX on Sunday successfully docked a company-owned
capsule carrying a pair of NASA astronauts with the International
Space Station, opening a new chapter in commercial space
Chip Industry Seeks Billions to Expand U.S. Manufacturing
Federal funds will be sought for factory building and research
to keep the U.S. ahead of China and others generous in subsidizing
Meat Plants Reopen, but Burgers Stay Pricey
A national meat-supply crunch driven by the coronavirus pandemic
is beginning to ease, though meat and grocery suppliers expect the
effects to linger for months. Meanwhile, consumers are paying more
for ground beef and other staples across the country.
Avista Capital Backs Consumer Health-Care Company in $336 Million Deal
Private-equity firm Avista Capital Partners is buying a stake in
Vision Healthcare in a deal that values the direct-to-consumer
health-care products company at around EUR305 million ($336
Wegmans Pampered Its Shoppers. Now It Has to Protect Them.
Companies that used to indulge their customers are adjusting to
an era when shoppers also pose dangers. Wegmans, a grocery-store
chain that inspired a cult following, is discovering how
challenging that transformation can be.
Russia Approves Flu Drug's Use Against Covid-19
Russia's Ministry of Health on Saturday approved a flu drug for
use in fighting coronavirus after officials said preliminary
testing showed hospitalized patients who took the pills recovered
Canada's Banks Take Earnings Hit from Loss Provisions
Royal Bank of Canada, Toronto-Dominion Bank Group and Bank of
Montreal set aside billions of dollars during their second quarters
to guard against defaults by their borrowers. The question now
looming for the rest of the year: how much will they need?
Occidental Nearly Eliminates Dividend Amid Low Oil Prices
The oil producer, laden with debt following its deal to buy
rival Anadarko, plans to pay a quarterly dividend of just 1 cent a
share in July as it seeks to conserve cash amid low oil prices and
Tencent in Talks to Buy Warner Music Stake
Tencent Holdings is in discussions to buy a stake in Warner
Music Group as part of the record company's initial public
offering, a key test for a new-issue market that has been hobbled
by the coronavirus pandemic.
(END) Dow Jones Newswires
May 31, 2020 23:15 ET (03:15 GMT)
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