News Highlights: Top Company News of the Day
Ant to Raise More Than $34 Billion in Record IPO
The Chinese financial-technology giant will list its shares in
what is set to be the world's biggest-ever initial public offering,
a deal that bypasses U.S. stock exchanges.
Blackstone Raises $8 Billion for Second Long-Life Fund
Blackstone collected the pool during the early days of the
coronavirus pandemic, which slowed fundraising across the industry.
Calpers, however, provided a $1 billion boost to the fund in
NIH Halts Study Exploring Treating Covid-19 With Lilly Antibody, Remdesivir
Federal health researchers have halted testing a combination of
Eli Lilly's Covid-19 antibody drug and remdesivir in hospitalized
Covid-19 patients, after an independent committee found a lack of a
Global Insurer AIG to Divest Life-Insurance Business
Current President Peter Zaffino will run the insurer as CEO
starting March 1, while current Chief Executive Brian Duperreault
will become executive chairman, the latest moves at a firm that in
recent years has faced shareholder activists.
Hospital Merger Seeks to Create Regional Giant in the West
Intermountain Healthcare and Sanford Health would operate 69
hospitals across six states.
Dunkin' Brands in Talks to Be Acquired by Arby's Parent
The parent of Dunkin' and Baskin-Robbins said it has held early
talks to go private in an acquisition by Inspire Brands, whose
portfolio includes Arby's, Buffalo Wild Wings and Jimmy John's
U.K. Betting Firm Genius Sports to Go Public
The company has struck a $1.5 billion deal to start trading on
public markets by merging with a U.S. blank-check company, people
familiar with the matter said, a move that targets the growing U.S.
BuzzFeed Expects to Break Even, Thanks to Heavy Cost Cuts
Through roughly $30 million in cost reductions-a mix of
furloughs, pay cuts, layoffs and other changes-the digital media
company said its finances are stabilizing after the pandemic hurt
its ad revenue.
Mexican-Restaurant Chain Rubio's Files for Chapter 11
Rubio's Restaurants, a chain of more than 150 Mexican eateries
known for fish tacos, has filed for bankruptcy protection citing
restrictions imposed due to the coronavirus pandemic.
Hasbro Posts Rise in 3Q Profit
Hasbro logged a third-quarter profit of $220 million, or $1.61 a
share, but revenue from the company's operations that rely on live
events suffered during coronavirus pandemic.
(END) Dow Jones Newswires
October 26, 2020 21:15 ET (01:15 GMT)
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