News Highlights: Top Company News of the Day
Microsoft's Earnings Continue to Ride Pandemic-Fueled Demand for Cloud
The software company said total sales rose 12% to $37.2 billion,
generating a net profit of $13.9 billion in the first quarter of
its fiscal year.
Bayer, BASF Weedkillers Cleared by EPA for Another Five Years
The agency said its reapproval of dicamba herbicides, which have
been blamed for damaging millions of acres of crops in recent
years, would provide clarity to farmers who say they need the spray
to combat hard-to-kill weeds.
Revlon Warns of Possible Bankruptcy Reorganization if Bond Swap Flops
The beauty-products maker warned bondholders about the
substantial risk of a bankruptcy restructuring if they don't
participate in a proposed debt exchange.
Visa's Planned Purchase of Plaid Faces Antitrust Scrutiny at the Justice Department
The DOJ, making preparations for potential litigation, could
soon decide whether it will sue to block Visa's purchase of the
Equitable Reaches Deal With Venerable to Reinsure $12 Billion in Annuities
Equitable has entered an agreement with Venerable for the
privately held company to reinsure 114,000 variable-annuity
policies sold between 2006 and 2008.
Eli Lilly Earnings, Halted Covid-19 Drug Trial Disappoint Investors
The drugmaker reported lower-than-expected quarterly earnings
due to pricing pressure on top products. It said it would proceed
with plans to introduce a new coronavirus antibody treatment
despite a recent setback.
Purdue Creditors Committee Criticizes U.S. Deal With Sackler Family
The federal government's proposed settlement with the Sackler
family members who own OxyContin maker Purdue Pharma ran into
opposition from company creditors worried that less money will be
left over for them.
Heineken to Acquire Cider Brand Strongbow From Asahi Group
Heineken will buy cider brand Strongbow from Asahi Group in
Australia, after the Japanese firm put up those assets for sale to
meet regulatory requirements.
SoCal Edison Says It May Have Caused Orange County Wildfire
The Silverado Fire has consumed more than 11,000 acres of
tinder-dry brush in the foothills above Irvine and other cities
south of Los Angeles.
Beam Suntory to Pay $19 Million to Settle Bribery Probe
Beam Suntory Inc. has agreed to pay $19 million to resolve a
criminal probe into bribes the maker of spirits allegedly paid to
sell a line of its products in India, the U.S. Justice Department
(END) Dow Jones Newswires
October 27, 2020 23:15 ET (03:15 GMT)
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