News Highlights: Top Company News of the Day
Uber Weighs California Overhaul if Ballot Measure on Workers Fails
CEO Dara Khosrowshahi said only that the ride-hailing operator
is "looking at all our options" if voters in the state defeat an
effort by Uber and other companies to secure exemption from a law
classifying drivers as employees.
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.
U.S. Banking Regulator Backs New Liquidity Requirements
The board of the Federal Deposit Insurance Corp. voted 3-1 to
adopt a final rule to set a so-called net stable funding ratio,
obliging large banks to hold enough funding to meet their needs for
up to a year.
Travelers More Than Doubles Quarterly Income
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
(END) Dow Jones Newswires
October 20, 2020 13:00 ET (17:00 GMT)
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