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 must comply with an order that
requires them to reclassify their drivers as employees, a
California appeals court said, siding with a lower-court ruling
that threatened to upend the business models.
Huawei Revenue Growth Slows as US Restrictions Start to Bite
Huawei Technologies posted a lower rate of revenue growth in the
third quarter, as the Chinese telecom giant continues to grapple
with U.S. restrictions on its ability to buy chips and other
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.
Bayer's Request for Roundup Appeal Rejected by California Court
The California Supreme Court declined to hear an appeal by Bayer
seeking to reverse a jury verdict that the company's Roundup
herbicide caused a groundskeeper's cancer, leaving the company with
few remaining options to avoid paying a $20.4 million judgment.
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.
(END) Dow Jones Newswires
October 23, 2020 01:15 ET (05:15 GMT)
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