News Highlights: Top Company News of the Day
AMD Agrees to Buy Rival Chip Maker Xilinx for $35 Billion
Advanced Micro Devices plans to buy rival chip maker Xilinx in a
$35 billion deal, adding momentum to the consolidation of the
semiconductor industry that has only accelerated during the
BP Posts Fifth Straight Quarterly Loss
U.K. energy company BP reported a fifth consecutive quarterly
loss, providing the first glimpse of how major oil companies
navigated the third quarter amid a prolonged slump in demand.
HSBC's Profit Falls but Lower Provisions Boost Recovery Hopes
London-based bank HSBC's net profit fell in the third quarter as
the coronavirus ravaged the global economy and political tensions
between the U.S. and China intensified over Hong Kong.
Lawmakers Want to Protect Local Newspapers From Google, Facebook
Some Senate Democrats are seeking to empower regulators to
protect local news outlets, accusing tech giants such as Google and
Facebook of "unfair business practices," according to a new
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
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.
(END) Dow Jones Newswires
October 27, 2020 07:15 ET (11:15 GMT)
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