News Highlights: Top Company News of the Day
Apollo Board Panel to Review Leon Black Ties With Jeffrey Epstein
The law firm Dechert is selected to examine the business
dealings between the private-equity firm's CEO and the disgraced
Netflix Subscriber Growth Slows Amid Heightened Competition
Netflix added 2.2 million subscribers in the quarter on a net
basis, short of its forecast in July of 2.5 million new
subscriptions for the period.
Cathay Pacific to Cut 8,500 Jobs, Close Cathay Dragon Brand
Cathay Pacific Airways will cut 8,500 jobs and shutter a
subsidiary in a $284 million restructuring to offset the stark
decline in air travel caused by the Covid-19 pandemic.
Disney Denounces California's Theme-Park Reopening Plans
Disney said the strict guidance would significantly complicate
the company's efforts to reopen Disneyland and criticized the
government for applying inconsistent standards for different
businesses in the state.
Justice Department Presses to Curtail Purdue Pharma Bankruptcy Probe
The Justice Department is urging a bankruptcy judge to limit a
creditor probe of OxyContin maker Purdue Pharma into the billions
of dollars in profits collected by the Sackler family members who
own the company.
Snapchat Nears 250 Million Daily Users as Advertisers Lift Spending
Snap Chief Executive Evan Spiegel said he was pleased with the
company's growth and will continue long-term investments on things
including augmented reality for its app.
Pioneer Natural Resources to Buy Parsley Energy for $4.5 Billion
The deal is the latest in a series of combinations in the U.S.
shale oil patch, which has been hard hit by the pandemic.
DOJ Files Google Antitrust Lawsuit
The Justice Department lawsuit marks the most aggressive U.S.
legal challenge to a company's dominance in the tech sector in more
than two decades, with the potential to shake up Silicon Valley and
Zoom's CFO Looks to OnZoom to Grow Revenue Opportunities
Kelly Steckelberg is banking on the new events platform to boost
the company's reach and revenues. Zoom has also recently introduced
Zoom Phone and Zoom Rooms.
Richard Branson Targets More Funds for Satellite-Launch Venture
The space entrepreneur said Virgin Orbit, which is aiming for
additional demonstration flights in the coming months after a
setback earlier this year, will require roughly $200 million in
additional cash infusion.
(END) Dow Jones Newswires
October 20, 2020 23:15 ET (03:15 GMT)
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