News Highlights: Top Company News of the Day
Credit Suisse Investment Bank Set for Loss after Legal Hit
UPDATED: Credit Suisse is set to post a loss for its investment
bank for the final three months of 2021, as a slow down in trading
revenues and a CHF500 million hit from legal costs prove to be
another blow to the Swiss bank after a series of crises.
Rio Tinto Reaches Deals to Break Mongolia Copper Logjam
In a sign of resource nationalism's impact on the mining sector,
Rio Tinto renegotiated agreements with the Mongolian government so
that a delayed and costly expansion of the Oyu Tolgoi copper mine
Ericsson 5G Rollout Delivers Profit Beat
Ericsson posted a fourth-quarter net profit of SEK10 billion, as
strong sales of 5G equipment in North America, Europe and Latin
America helped offset a hefty sales decline in mainland China.
Rémy Cointreau Maintains Outlook as Sales Grow
Rémy Cointreau confirmed its guidance for the financial year,
including strong organic growth in sales and "very strong" growth
in operating profit, after the drinks group posted a 21% rise in
third quarter sales.
Twitter Plans to Expand Engineering Center in Singapore
Twitter Inc. plans to double the number of engineers it has in
Singapore to more than 100 by 2023, as part of efforts to expand
its engineering hubs outside the U.S.
GameStop, Meme Stocks Hit by Market Turmoil
AMC Entertainment, GameStop and other stocks popular with
individual investors sold off Monday.
IBM Sales Surge. Changes Are Beginning to Pay Off.
The tech giant reported strong fourth-quarter results, including
its best quarterly sales growth in more than a decade.
Peloton Stock Rises Almost 10% After Activist Letter, 'Billions' Appearance
Peloton Interactive shares rose after The Wall Street Journal
reported Blackwells Capital wants the company to fire its chief
executive and explore a sale.
Bob Dylan Sells Entire Recorded Music Catalog to Sony Music
The company didn't disclose a price for the deal, which it said
includes the rights to multiple future releases.
Google Deceived Users About Location Tracking, States Allege
The company tracks people's movements using information from its
search engine, Maps app, Wi-Fi and Bluetooth services even after
users turn off location tracking, a lawsuit filed by Washington,
D.C., alleges. Google disputed the allegations.
(END) Dow Jones Newswires
January 25, 2022 05:15 ET (10:15 GMT)
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