News Highlights: Top Company News of the Day
A Chinese Netflix Faces SEC Probe After Short-Seller Report
China's iQiyi, a Netflix-like video-streaming company, said it
was under investigation by the U.S. Securities and Exchange
Commission, sending its shares plunging 12% in after-hours
'Fortnite' Kicked Off Apple and Google App Stores
Apple and Google yanked "Fortnite," one of the world's most
popular videogames, from their app stores in an escalating battle
over the fees they charge developers to distribute their software
and process in-app purchases.
Senators Ask FTC to Investigate TikTok Data Collection
Two U.S. senators have asked the Federal Trade Commission to
investigate TikTok's data collection practices after a Wall Street
Journal article showed that the company covertly collected data on
millions of users through a method that appeared to violate
Novavax Inks Covid-19 Vaccine Deal With U.K. for 60 Million Doses
Novavax has agreed to provide 60 million doses of its
coronavirus vaccine to the U.K. for an undisclosed sum, as
countries move to secure supplies of the shots.
Hapag-Lloyd Sticks to Forecast
Hapag-Lloyd posted a rise in second quarter underlying profit to
EUR352 million, despite lower revenues, and said its forecast for
the year remains unchanged.
Losses by Angeles Equity Partners Fund Raise Investor Questions
A commissioner of a Los Angeles pension plan is looking for
answers regarding early losses produced by Angeles Equity Partners,
a lower midmarket private-equity firm in its emerging manager
Cibolo Energy Marks Halfway Point in Investing Debut Credit Fund
Cibolo Energy Partners has invested about half of its first
energy-credit fund and expects deal flow to accelerate as low oil
prices and a decline in bank lending increase the need for capital
in the oil and natural gas industry.
Citigroup Pays Revlon Lenders Nearly $900 Million by Mistake
The bank paid nearly $900 million by mistake to Revlon lenders
and is asking for the money to be returned, according to people
familiar with the matter.
Trump Administration Criticizes New Fannie Mae, Freddie Mac Mortgage Fee
The administration criticized a move by the mortgage-finance
companies to charge a new fee on certain mortgages, saying it would
Former Hertz CEO Agrees to Settle Claims Tied to Accounting Misconduct
The former chief executive of Hertz Global Holdings agreed to
pay nearly $2.2 million to settle claims that he pressured
subordinates to "find money" to meet financial targets, causing
employees to violate accounting rules, according to regulators.
(END) Dow Jones Newswires
August 14, 2020 09:15 ET (13:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.