News Highlights: Top Company News of the Day
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
HSBC Profit Plunges as Pandemic Continues to Bite
HSBC said its third-quarter net profit fell 54%, mainly as
revenue dropped on a low interest-rate environment during the
Covid-19 pandemic, though it recorded significantly less credit
losses in the period.
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
Sheldon Adelson's Las Vegas Sands Considers Sale of Casinos in Namesake City
The sale price for its Venetian and Palazzo casinos and Sands
Expo and Convention Center could be more than $6 billion, according
to a person familiar with the deliberations.
J.C. Penney Lenders Trade Barbs Over Chapter 11 Split
A lawyer for J.C. Penney's top lenders accused a rival creditor
group of "economic terrorism" during a court hearing on the
escalating battle between hedge funds seeking bigger shares of the
beleaguered department-store chain.
Veritas Capital Closes Maiden Credit Fund
Private-equity firm Veritas Capital closed its maiden credit
fund last week, collecting $400 million to invest in companies at
the intersection of technology and government, according to people
familiar with the matter.
Hospital Merger Seeks to Create Regional Giant in the West
Intermountain Healthcare and Sanford Health would operate 69
hospitals across six states.
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.
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.
(END) Dow Jones Newswires
October 27, 2020 03:15 ET (07:15 GMT)
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