News Highlights: Top Company News of the Day
Caterpillar's Chinese Rivals Power Through the Pandemic
Sany Heavy and Zoomlion have gained market share in China while
their foreign competitors have been hobbled by Covid-19.
Philips Profit Misses Forecasts
Philips said its fourth-quarter net profit came in at EUR603
million, slightly below estimates, but the company reiterated its
guidance for the year ahead.
Siemens Energy Back in Profit
Siemens Energy posted an above-forecast core profit of EUR243
million in the first-quarter, helped by lower costs, and backed its
outlook for 2021.
AMC Nets $917 Million in Financing to Ward Off Bankruptcy
The world's largest movie theater chain is buying time with debt
and equity deals as it continues to burn cash during the Covid-19
AstraZeneca's Vaccine Shortfall Threatens EU Plans to Boost Inoculations
The drugmaker expects to deliver tens of millions fewer Covid-19
vaccine doses than planned to the EU in coming months, threatening
the continent's efforts to increase vaccinations and delivering a
fresh reputational blow to the company.
Smart-Lock Maker Latch to Use Tishman Speyer SPAC to Go Public
Latch Inc., a maker of smart locks and building-management
software, plans to go public using a so-called blank-check vehicle,
joining the parade of startups looking to cash in on investor
interest in tech-enabled businesses.
Cathay Pacific Expects New Quarantine Rules to Hurt Performance
Cathay Pacific Airways is bracing for a potential hit from the
Hong Kong government's new Covid-19 quarantine rules, which will
take effect in February.
China's Love of TikTok-Style Apps Powers $5 Billion IPO
Kuaishou Technology has its eyes on the world's biggest initial
public offering in more than a year, seeking to raise about $5
billion from a Hong Kong share sale.
European Banks Quit Ecuador's Amazonian Oil Trade
Some of Europe's largest banks are phasing out trading services
for the export of oil from the Ecuadorean Amazon, a move that
reflects the growing focus of global banks on climate change and
their shift away from increasingly risky fossil fuels.
NCR Is Nearing a Deal to Buy ATM Operator Cardtronics
NCR is finalizing a takeover that would value Cardtronics at $39
a share, or around $1.7 billion, outbidding a pair of investment
firms that had earlier agreed to buy the ATM operator.
(END) Dow Jones Newswires
January 25, 2021 07:15 ET (12:15 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.