News Highlights: Top Company News of the Day
Wall Street Profits Soar During First Half of 2020
Wall Street profits jumped 82% in the first half of this year, a
rare bright spot for the city and state's pandemic-ravaged
Uber and Lyft Must Classify Drivers as Employees, Appeals Court Says
The ride-hailing companies are misclassifying their workers as
independent contractors and need to treat them as employees
according to state labor law, a California appeals court said,
affirming a lower-court ruling.
Covid-19 Drug Remdesivir Fully Approved by FDA
The U.S. Food and Drug Administration has granted a full final
approval to Gilead Sciences Inc.'s remdesivir, making it the first
Covid-19 treatment deemed safe and effective by the regulator, the
company said Thursday.
Walmart Sues U.S., Aiming to Head Off Opioid Penalties
Walmart sued the federal government in an attempt to strike a
pre-emptive blow against what it said is an impending
opioid-related civil lawsuit from the Justice Department.
Pension Backers Focus Fresh Attention on Apollo Founder's Ties to Jeffrey Epstein
Several pension backers of Apollo Global Management have
expressed concern after a recent news report about financial ties
between Leon Black, the firm's co-founder, and the late Jeffrey
Epstein, who killed himself while awaiting trial on sex-trafficking
Intel Hit as Consumers Flock to Lower-Cost Laptops, Datacenter Chips
Chip giant Intel Corp. raised its full-year outlook even as
earnings suffered as consumers gravitated to cheaper laptops and
demand for datacenters softened.
Qantas Revenue Grounded by Slow Travel Recovery
Delays in reopening domestic borders hit Qantas Airways's
revenue in its fiscal first quarter, and the recovery in travel has
been slower than expected, executives at Australia's biggest
Barbie Sales Take Off as Parents Try to Cut Down on Screen Time
Mattel's flagship doll Barbie posted a 29% sales increase in the
latest quarter, leading the toy company to 10% revenue growth in
the period. It was the largest quarterly increase posted by Barbie
in at least two decades.
California Loses Last-Ditch Effort to Force Exide to Deal With Toxic Legacy
California taxpayers were left responsible for a contaminated
plant outside Los Angeles after a judge turned down an emergency
bid by state environmental regulators to block Exide Technologies
from exiting bankruptcy.
Goldman Sachs Malaysia Subsidiary Pleads Guilty in 1MDB Case
A unit of Goldman Sachs pleaded guilty to conspiring to violate
U.S. antibribery laws, the first step in an expected resolution of
a long-running investigation into its role in a Malaysian
(END) Dow Jones Newswires
October 22, 2020 23:00 ET (03:00 GMT)
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