News Highlights: Top Company News of the Day
DOJ Files Google Antitrust Lawsuit
The lawsuit accuses the search giant of anticompetitive conduct
and marks the most aggressive U.S. legal challenge to a company's
dominance in the tech sector in more than two decades.
Goldman to Pay $2.8 Billion, Admit Wrongdoing to Settle 1MDB Charges
Goldman Sachs Group will pay the U.S. government about $2.8
billion and admit wrongdoing in a Malaysian bribery scandal,
settling charges stemming from its work with a corrupt government
Intel's Deal With SK Hynix Shows Limited Space Left for Chip Makers
Intel's $9 billion deal to sell most of its memory-chip business
to the South Korean company accelerates the industry consolidation
around a ubiquitous technology component.
P&G and Reckitt Clean Up on Pandemic-Driven Hygiene
Procter & Gamble reported its biggest global sales increase
in 15 years as the world's consumers spent more to keep their homes
and themselves clean during the coronavirus pandemic. Reckitt
reported its sharpest quarterly sales growth on record, driven by
its hygiene unit.
Albertsons 2Q Profit Exceeds Analysts' Expectations
Albertsons reported stronger sales for its latest quarter but
demand was a bit slower when compared with earlier this year, when
consumers loaded up on food to eat at home during the Covid-19
Lockheed Martin Sets Modest Sales Expectations
The world's largest defense company said it expects sales to
rise about 3% next year as it provided a first look at the impact
of slowing military budget growth.
Travelers' Profit Rose in Third Quarter
Property-casualty insurance company Travelers Cos.'s reported an
increase in profit and net written premiums for the quarter that
ended last month and reported just under $400 million in pretax
UBS Profit Doubles on Trading Surge
The Swiss lender said a surge in client trading and deal making
is freeing up cash for dividends and share buybacks despite the
Pioneer Natural Resources Is in Talks to Buy Parsley Energy
The two oil-and-gas companies, shale producers that operate in
the Permian Basin of Texas and New Mexico, are discussing an
all-stock deal that could be completed by the end of the month,
according to people familiar with the matter.
Microsoft Teams With SpaceX to Push Cloud Battle With Amazon Into Orbit
Microsoft will help connect and deploy new services using swarms
of low-orbit spacecraft being proposed by SpaceX, part of an
initiative targeting commercial and government space businesses
that comes just months after Amazon disclosed its own space-focused
(END) Dow Jones Newswires
October 20, 2020 11:15 ET (15:15 GMT)
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