News Highlights: Top Company News of the Day
AIG Swings to a Loss but Calls Pandemic Hit 'Manageable': Earnings at a Glance
Insurer AIG swung to a loss in the quarter in part due to the
pandemic, although CEO Brian Duperreault called Covid-19
"manageable." Videogame maker Take-Two Interactive Software said
bookings more than doubled in the June quarter thanks to the
With Potential TikTok Deal, Microsoft CEO Looks to Expand Audience
If there is one trait that would link a TikTok acquisition with
the other big deals Microsoft Chief Executive Satya Nadella has
done, it is his willingness to pay big bucks to expand the software
giant's universe of users.
Vornado Faces Rent-Collection Challenge From Retailers
Vornado Realty Trust said it collected 72% of second-quarter
rents due to it from retailers, a performance that illustrates the
challenges retail-property owners face as the pandemic complicates
in-store shopping for many tenants.
AIG Swings to Quarterly Loss
Global insurer American International Group swung to a loss for
the second quarter driven in part by substantial costs tied to the
Commerzbank Names New Chairman, Defying Big Investor Cerberus
German lender Commerzbank appointed former state bank executive
Hans-Jörg Vetter as its new chairman, ignoring opposition from its
second-largest shareholder, Cerberus Capital Management.
Trump Says U.S. Should Get Slice of TikTok Sale Price
President Trump confirmed Monday he is open to a deal in which
Microsoft or another U.S. company buys the video-sharing app
TikTok, but he said the government should receive payment for
clearing a purchase.
GM Tries to Revive Legal Battle With Fiat Chrysler
General Motors wants a federal judge to reconsider the tossing
of its suit against Fiat Chrysler in which it accused its rival of
bribing UAW officials to gain a competitive advantage.
Trump Fires Tennessee Valley Authority Board Members, Cites Shift to Foreign Workers
President Trump removed the chairman and another board member at
the Tennessee Valley Authority and called for firing the federally
owned utility's CEO, as he signed an order meant to protect U.S.
federal workers from displacement by foreigners.
Electric-Truck Maker Lordstown Motors to Go Public in Reverse Merger
Lordstown Motors, the latest company looking to tap investor
excitement around battery-powered vehicles, said it will merge with
publicly traded DiamondPeak Holdings in a deal that aims to list it
on the Nasdaq.
Google to Invest $450 Million in ADT
The partnership will combine Nest hardware and services, powered
by Google's machine learning technology, with ADT's installation,
service and professional monitoring network.
(END) Dow Jones Newswires
August 03, 2020 19:15 ET (23:15 GMT)
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