News Highlights: Top Company News of the Day

Date : 27/03/2020 @ 05:30
Source : Dow Jones News

News Highlights: Top Company News of the Day

U.S. Moving Forward With Rule to Limit Chips to Huawei 

The Trump administration is moving ahead with new restrictions aimed at cutting off Chinese telecom-equipment maker Huawei from one of its main suppliers of advanced semiconductors, according to people familiar with the situation.

Facebook Nears Complete Board Overhaul With Latest Exit 

The social media giant's board suffered another surprise departure with the exit of Jeffrey D. Zients, leading to an almost complete shake-up of the directors.

Lululemon Says Coronavirus Curbed Sales Growth in March 

Lululemon Athletica reported strong sales growth in its year-end quarter, but said business slowed substantially during the second week of March, as the novel coronavirus forced it to close stores across the U.S. and Europe.

Kirin Shareholders Reject Share Buyback in Blow to U.K. Investor 

Shareholders at Japanese beer maker Kirin Holdings soundly defeated a proposal by a London-based investor to unload the company's health-care holdings and carry out a big share buyback.

Singapore Airlines to Raise $10.48 Billion via Equity, Debt 

Singapore Airlines plans to raise 15 billion Singapore dollars ($10.48 billion) via equity and debt to shore up its balance sheet after grounding most of its fleet due to the Covid-19 crisis.

Woodside Defers Investment Decisions 

Woodside Petroleum said it was deferring three major projects to expand its liquefied natural gas production by at least one year as it seeks to conserve cash until the coronavirus pandemic is contained and oil prices recover.

Apple Can't Distort This Reality 

Launching a 5G iPhone this year may be unwise, but Apple has other moves it can make.

South32 Suspends Share Buyback in Virus Response 

South32 has suspended its share buyback program and will cut around US$160 million in spending over the next 15 months as it responds to the coronavirus pandemic.

Tobacco Company Pyxus International and Creditors Hire Restructuring Advisers 

Tobacco company Pyxus International has hired restructuring advisers, while two groups of bondholders have retained their own advisers in advance of looming debt maturities, according to people familiar with the matter.

Lynn Tilton Resigns From Control of Struggling Businesses 

The turnaround manager walked away from her posts at a collection of troubled businesses she has managed for years on Saturday after a bankruptcy judge ruled against her in a fight with the Zohar funds over a schedule for selling the companies.


(END) Dow Jones Newswires

March 27, 2020 01:15 ET (05:15 GMT)

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