News Highlights: Top Company News of the Day
GM Stops Backing Trump Administration in Emissions Fight With California
General Motors will no longer back the administration in its
legal battle to strip California's authority to set its own
fuel-efficiency regulations, saying GM's goals for green cars are
aligned with the state and the new Biden administration.
AstraZeneca-Oxford Vaccine Up to 90% Effective in Trials
The success of the vaccine being developed by the University of
Oxford and AstraZeneca bodes well for the near-term availability of
a third treatment for Covid-19, joining those from Moderna as well
as Pfizer and BioNTech.
Guitar Center Files for Chapter 11 Bankruptcy to Outlast Pandemic
Guitar Center Inc. has filed for bankruptcy, planning to cut
about $800 million in debt to ensure the nation's largest seller of
musical instruments can withstand the economic turmoil caused by
the coronavirus pandemic.
Google Plans Fiber-Optic Network to Connect Via Saudi Arabia and Israel for First Time
Project would connect the historical enemies, avoid Egypt and
open a new corridor for internet traffic.
GM to Recall 5.9 Million Vehicles With Takata Air-Bag Inflaters
General Motors has agreed to replace potentially faulty Takata
air-bag inflaters in millions of its pickups and SUVs, a fix
ordered by federal safety regulators that could cost the auto maker
more than $1 billion.
Merck to Buy OncoImmune for $425 Million Amid Race for Covid-19 Treatments
The drugmaker is buying biopharmaceutical company OncoImmune,
which has reported positive results from a late-stage study of a
coronavirus therapeutic candidate, for $425 million in cash.
DuPont's Up-and-Down History Shaped Biden's Views on Business
"Uncle Dupie" was a leading employer and philanthropist in
Delaware, but declining profits and global competition put it in
the crosshairs of shareholder activist Nelson Peltz.
Regal Cinemas Owner Lands Financial Lifeline, Averting Bankruptcy
The owner of Regal Entertainment Group secured a financial
lifeline after creditors supplied the struggling movie theater
owner with a rescue loan and other debt relief.
Snap Counters TikTok With Spotlight Feature
The new service, known as Spotlight, pushes the owner of
Snapchat into the fraught but potentially lucrative business of
Danone Fights to Fix a Souring Growth Recipe
Despite a focus on trendy health foods, Danone has lost investor
support this year. Winning it back will be hard work as business
becomes more competitive.
(END) Dow Jones Newswires
November 23, 2020 17:00 ET (22:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.