News Highlights: Top Company News of the Day
Citigroup Beats Profit Expectations
The bank enjoyed strong results in 2020 from its Wall Street
operations, but that was offset by the billions of dollars it had
to put aside for potentially bad loans.
Exxon Draws SEC Probe Over Permian Valuation
A whistleblower complaint alleges that lower-level employees
were pressured to use unrealistic assumptions on how quickly the
company could drill wells.
JPMorgan Quarterly Profit Jumps 42%
The nation's biggest bank posted its highest-ever quarterly
profit after releasing funds it had set aside to cover soured
loans. Still, the CEO said it remains positioned for significant
near-term economic uncertainty.
Wells Fargo Profit Rises to End Topsy-Turvy Year
The San Francisco-based lender said Friday that it made $2.99
billion in the fourth quarter, up 4% from a year earlier, though
revenue fell nearly 10%.
Ant Group Is Moving Quickly to Comply With Regulations, China's Central Bank Says
Ant is working expediently to rectify its business practices and
comply with regulatory requirements, a top Chinese central bank
U.S. Expands Chinese Investment Blacklist to Xiaomi
Smartphone giant Xiaomi became the latest Chinese technology
group to be targeted by the Trump administration, with its surprise
addition to an investment blacklist sending its shares sharply
SAP Forecasts Flat Revenue After Fourth-Quarter Rebound
SAP said it expected cloud and software revenue for 2021 to be
flat to up 2%, with operating profit of EUR7.8-EUR8.2 billion, as
the software giant released fourth-quarter results ahead of
U.S. Moves to Block Telecom Tech From China and Others Deemed Foes
It will be up to the Biden administration to follow through on
the new rules, which also names Iran and North Korea.
Apple's App Store Removes Wimkin Over Calls to Violence
Apple removed social-media platform Wimkin from its App Store,
part of a crackdown by tech companies on potentially dangerous
content during the presidential transition. The small site, which
markets itself as a free-speech haven, had hosted posts that
included a call for civil war.
GameStop Stock Soars, and Social-Media Traders Claim Victory
Members of Reddit's popular WallStreetBets forum have been
touting the videogame retail for weeks.
(END) Dow Jones Newswires
January 15, 2021 09:00 ET (14:00 GMT)
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