News Highlights: Top Company News of the Day

 
Verizon Revenue Drops as Pandemic Slows Phone Shopping 
 

The largest U.S. cellphone carrier continued to add customers during the pandemic, though quarterly revenue declined in its core wireless business and its online advertising unit.

 
Schlumberger Cuts 21,000 Jobs Amid Historic Oil Downturn 
 

Schlumberger, the world's largest oil-field services company, is cutting about 21,000 jobs as oil producers make steep spending reductions in response to a historic drop in prices amid the coronavirus pandemic.

 
Malaysia and Goldman Sachs Reach  $3.9 Billion Settlement Over 1MDB Dispute 
 

Goldman Sachs has reached a $3.9 billion settlement with Malaysia over a long-running dispute related to deals it ran for a state investment fund.

 
China Pushes Energy Reform With Pipeline Deals 
 

China is moving to wean its economy off coal and boost use of cleaner natural gas, with two of the country's energy giants set to pump nearly $56 billion of assets into a new national pipeline firm.

 
Honeywell's Safety-Equipment Sales Rise, but Aerospace Demand Falls 
 

Rising demand for personal protective equipment amid the Covid-19 pandemic weren't enough to offset declines in Honeywell's aerospace segment.

 
American Express Reports Over $1 Billion in Provisions for Credit Losses 
 

American Express reported a large drop in profit from a year earlier as it logged provisions of $1.6 billion to cover potential losses. The company said the Covid-19 pandemic significantly affected results in the quarter.

 
Airbus Looks to End Trade Dispute With U.S. by Forgoing Some Government Support 
 

Airbus has agreed with the Spanish and French governments to change some financial-support agreements in an attempt to bring an end to a yearslong trade dispute with the U.S.

 
A&E Has Lost Half Its Viewers Since Dropping 'Live PD' 
 

Ratings for A&E Network have plummeted since it canceled the hit police reality show "Live PD" on June 10, a sign of how much the network relies on law-enforcement programming.

 
China Oil Majors Agree to Sell Assets in Deals Worth $55 Billion Amid Energy Sector 
               Reforms 
 

Two of China's energy giants have agreed to sell some of their assets in cash and share deals worth around $55 billion to a newly created state juggernaut that China hopes will reform and unify its national energy-transmission network.

 
UK Telecom Operators Seek Cost Relief From British Govt for Ban on Huawei 
 

U.K. telecommunication operators are engaged with the British government as they seek to recover part of the extra costs resulting from the government's ban on 5G equipment made by China's Huawei, Vodafone's Chief Executive Nick Read said.

(END) Dow Jones Newswires

July 24, 2020 09:00 ET (13:00 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.