News Highlights: Top Company News of the Day
More Than 940,000 Crock-Pots Recalled on Burn-Injury Reports
Multicooker maker Sunbeam Products received 119 reports of lid
detachment that led to 99 burn injuries, ranging from first- to
third-degree burns in the U.S., according to the U.S. Consumer
Product Safety Commission.
Purdue Pharma Pleads Guilty to Felonies Over OxyContin Sales
The guilty plea follows the approval last week by a U.S.
bankruptcy court judge of an $8.34 billion settlement between
Purdue Pharma and the Justice Department.
GE Plans More Job Cuts in Aviation Division
General Electric warned employees that more job cuts are coming
to the conglomerate's jet-engine business because of the pandemic's
impact on commercial air travel even with the promise of a vaccine
on the horizon.
French Hotel Giant Targets U.S. With New Lifestyle Operator
European hotel company Accor is set to merge its boutique
properties with a U.K. company to create what it says will be the
world's largest operator of lifestyle hotels, betting on the
segment as it seeks growth in North America.
Credit Suisse Takes $450 Million Hit on Stake in U.S. Hedge-Fund Firm
Credit Suisse is taking a near half-billion-dollar charge on a
stake in a hedge-fund business it bought during Wall Street's
frenzy for alternative investments a decade ago.
Best Buy Continues Virus-Driven Gains but Warns They Will Taper Off
The retailer's sales rose 21% in the third quarter from a year
earlier, as it continued benefiting from online sales and items
that support homebound customers during the pandemic.
Europe's Biggest Utility Company to Ramp Up Spending on Wind, Solar Power
Enel plans to spend around $83 billion expanding its presence in
wind and solar power in the coming decade, seeking to cement its
position as the world's largest renewable energy producer outside
China and capitalize on the shift to green energy.
Dick's Sporting Goods CEO Ed Stack to Step Down
The retail executive built the company into a national chain
during his decades at the helm and led it into a contentious
national debate over gun violence. He will remain chairman and
AstraZeneca Gears Up to Vaccinate the World
Among the front-runners racing to deliver a Covid-19 shot,
AstraZeneca has the least vaccine experience. But it has promised
the world the most doses-more than three billion.
McCormick Buys Hot-Sauce Maker Cholula
The seasonings company pays $800 million to private equity firm
L Catterton as it tries to capitalize on record demand for spicy
(END) Dow Jones Newswires
November 24, 2020 17:15 ET (22:15 GMT)
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