News Highlights: Top Company News of the Day
26 March 2021 - 11:30PM
Dow Jones News
Monarch Bets $600 Million That Bankrupt Travel Assets Will Recover
Monarch Alternative Capital LP is betting roughly $600 million
in three bankruptcy cases that the travel industry will bounce back
from the coronavirus pandemic.
Boeing Resumes 787 Dreamliner Deliveries
The plane maker's Dreamliner delivery to United Airlines on
Friday marked its first since production problems prompted a halt
in October.
Eritrea Withdraws From Ethiopia's Restive Tigray Region
The move could mark a turn in the nearly five-month conflict or
simply a tactical retreat in the face of international
pressure.
U.S. Condemns Chinese Boycotts of Companies Shunning Xinjiang Cotton
The Biden administration said it stood with businesses that have
forsworn cotton produced in the region where Chinese authorities
operate internment camps, which Beijing has denied are used for
forced labor.
VW to Seek Damages From Former CEO in Diesel Scandal
Volkswagen said it would seek compensation from former CEO
Martin Winterkorn and the former CEO of its Audi luxury car unit,
Rupert Stadler, for damages suffered in the wake of the diesel
scandal that has cost the German car maker more than $35 billion in
damages and fines.
Madison Square Garden Entertainment to Acquire MSG Networks
The deal, valued at more than $900 million, reunites the two
companies and aims to tap into the rise of sports gambling.
WeWork Plans to Go Public in $9 Billion SPAC Merger
WeWork has agreed to merge with a special-purpose acquisition
company, in a deal that would take the shared-office provider
public nearly two years after its high-profile failure to launch a
traditional IPO.
Voting-Machine Company Dominion Sues Fox News Over Election Claims
Dominion Voting Systems is seeking $1.6 billion in damages for
what it alleges were defamatory on-air comments about the company's
products in the aftermath of the presidential election.
ThredUp Fetches $1.3 Billion Value in IPO
Shares of ThredUp opened 30% above the listing price in their
market debut, the latest e-commerce company to go public this year
following Poshmark and Mytheresa.
Startups Axios and the Athletic Discuss Merger, Consider SPAC Deal
The potential combination would create a larger portfolio of
digital publishers and be the latest example of a company going
public through a blank-check firm.
(END) Dow Jones Newswires
March 26, 2021 19:15 ET (23:15 GMT)
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