News Highlights: Top Company News of the Day
Tiffany, LVMH Trial Set for Early January
Tiffany sued LVMH earlier this month after the French
luxury-goods company said it couldn't proceed with its $16.2
billion takeover of the U.S. jeweler.
Senate Democrats Oppose Bonus for Purdue Pharma CEO
Democratic senators are challenging the OxyContin maker's
request to pay its chief executive a bonus that could total
millions of dollars while the company is in bankruptcy, saying such
an award would be offensive to the families harmed by the opioid
TikTok and Oracle Spar Over Ownership, Threatening Deal
The role of TikTok's Chinese owner in a newly created company
pairing the app with Oracle remains a point of contention despite
signs of a final agreement over the weekend.
Microsoft Buys Doom Owner in $7.5 Billion Videogaming Deal
Microsoft said it would buy the parent company of videogame
publisher Bethesda Softworks for $7.5 billion in cash.
Nikola Founder Resigns as Executive Chairman Amid Fraud Allegations
The electric-truck startup's founder and executive chairman is
stepping down with immediate effect in the wake of allegations from
a short seller that he and the company had made false statements to
Activist Trian Fund Management Takes Stake in Comcast
Trian Fund Management has taken a stake in Comcast in a bet that
the cable giant's shares are undervalued. Comcast is one of the
biggest companies ever targeted by an activist.
Volkswagen in Talks to Sell Bugatti Brand to Croatian Upstart
VW, whose brands range from Audi to Porsche and Skoda to
Lamborghini, is discussing the possible divestment with Croatia's
Ann Taylor's Parent Gets Green Light to Sell Catherines Brand Out of Bankruptcy
Ascena Retail Group won bankruptcy-court approval to sell the
plus-size brand to FullBeauty Brands for nearly $41 million.
LA Fitness Lenders Tap Adviser for Debt Negotiations
Lenders to the LA Fitness chain have hired a financial
restructuring adviser to lead discussions with the company in an
effort to avert a potential cash crunch after pandemic lockdowns
rocked the gym industry.
Chinese Leaders Split Over Releasing Blacklist of U.S. Companies
Beijing has sped up development of a list that could be used to
punish American technology firms, but some Chinese officials are
mindful of moving too aggressively and say a decision should wait
till after the U.S. election.
(END) Dow Jones Newswires
September 21, 2020 19:15 ET (23:15 GMT)
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