News Highlights: Top Company News of the Day
LVMH Gets Boost From Vuitton, Dior
Surging revenue at the big fashion brands bolstered the
luxury-goods company's results, offsetting other businesses such as
Volkswagen Asks Supreme Court to Block Local Emissions Regulations
The German auto giant is trying to overturn a lower-court ruling
that could open the car industry to oversight from
HSBC CEO Defends Stance on Hong Kong
U.K. lawmakers accused HSBC CEO Noel Quinn of appeasing China
and ignoring the erosion of democracy and rule of law in Hong Kong,
where the bank was founded more than 150 years ago.
Allstate to Sell Life Insurance Unit to Blackstone for $2.8 Billion
Purchase is the latest in a slew of deals between financial
firms and life insurance businesses.
Goldman CEO David Solomon Takes $10 Million Pay Cut for 1MDB Scandal
His 2020 pay was slashed by 36%, punishment for the bank's
admission last year that it broke U.S. laws in its dealings with an
Sheldon Adelson's Casino Empire Installs New Leadership
Rob Goldstein, a deputy to the gambling magnate, was appointed
chief executive. Patrick Dumont, Mr. Adelson's son-in-law, was
Walgreens Poaches Starbucks Executive Rosalind Brewer for CEO
The Starbucks operating chief will be the only Black woman
leading a Fortune 500 company.
Microsoft Sales Surge to Record, With Help From Cloud and Videogames
The software giant's profit and sales jumped, propelled by
pandemic-fueled demand for videogaming and accelerated adoption of
its cloud-computing services.
Starbucks Sales Slide But Show Signs of Recovery in China
Starbucks also said Chief Operating Officer Roz Brewer will
leave to lead another publicly traded company.
All-You-Can-Eat Pizza Chain Cici's Files for Bankruptcy
CiCi's Holdings, the company behind the unlimited pizza buffet
restaurant chain, has filed for bankruptcy proposing to sell itself
to a lender after in-person dining restrictions and growth in food
delivery hurt sales.
(END) Dow Jones Newswires
January 27, 2021 03:15 ET (08:15 GMT)
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