News Highlights: Top Company News of the Day
07 August 2020 - 4:30AM
Dow Jones News
Trump Issues Order Barring U.S. Transactions With TikTok in 45 Days
President Trump signed an executive order that effectively sets
a 45-day deadline for an American company to purchase the U.S.
operations of TikTok, calling the popular app a national and
economic security threat.
News Corp Posts Wider Loss as Coronavirus Pummels Advertising Revenue
News Corp posted a wider loss in its latest quarter as
advertising revenue halved amid the coronavirus pandemic, more than
offsetting profit growth at Wall Street Journal parent Dow Jones
& Co. and at the company's video-subscription unit.
T-Mobile Overtakes AT&T to Become No. 2 Carrier
T-Mobile US said it vaulted ahead of rival AT&T Inc. in the
race for wireless customers to become the country's second-largest
cellphone carrier.
Uber Ridership Fails to Recover as Pandemic Drives Another Big Loss
Uber Technologies posted another big loss with little sign of
recovery in its core ride-hailing business as the coronavirus
pandemic drags on, though stay-at-home orders have fueled company's
food-delivery business.
AstraZeneca Strikes Deal to Produce Covid-19 Vaccine for China
AstraZeneca has agreed to have a Chinese drugmaker produce
hundreds of millions of doses of its experimental Covid-19 vaccine
for use in China if it is approved by regulators there, a deal that
expands China's access to potential vaccine options.
Fortnite Creator Epic Games Valued at $17.3 Billion After Latest Funding Round
Epic Games, the company behind the blockbuster videogame
"Fortnite," has raised $1.78 billion in the latest round of
investment, including a previously disclosed $250 million
investment from Sony Corp.
Hedge Fund Leading Battle Over Neiman Marcus's MyTheresa Faces Inquiry
A prominent hedge-fund manager has been accused of using his
influence at investment bank Jefferies to profit from buying shares
in MyTheresa, a Neiman Marcus e-commerce spinoff.
News Corp Has Considered Alternatives for Storyful Unit, Including Possible Sale
News Corp has considered strategic alternatives for its Storyful
unit, including a possible sale, as part of broader efforts to
streamline the company, a person familiar with the matter said.
NYSE Owner Agrees to Buy Mortgage-Software Firm Ellie Mae
Intercontinental Exchange, the owner of the New York Stock
Exchange, said it would acquire mortgage-software firm Ellie Mae, a
landmark bet by the exchange giant on the digitization of the U.S.
mortgage industry.
Travel Companies Continue to Suffer: Earnings at a Glance
Earnings reported after the closing bell showed continued
devastation for travel companies like Booking Holdings and
Tripadvisor as well as the ride-hailing business of Uber
Technologies.
(END) Dow Jones Newswires
August 06, 2020 23:15 ET (03:15 GMT)
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