News Highlights: Top Company News of the Day
19 October 2020 - 04:15AM
Dow Jones News
Alibaba to Pay $3.6 Billion to Acquire Controlling Stake in Sun Art Retail
Alibaba Group Holding will invest about $3.6 billion to acquire
a controlling stake in hypermarket operator Sun Art Retail Group,
part of the technology giant's efforts to bridge e-commerce
operations with physical stores.
Cimic Agrees to Sell 50% Stake in Thiess to Elliott-Linked Funds
Engineering and construction firm Cimic Group said it agreed to
sell a 50% stake in mining unit Thiess to funds advised by Elliott
Advisors, capping off several months of talks between the two
parties.
Holiday Delivery Crunch Starts Early This Year
Both FedEx and UPS have told some of their largest shippers that
most of their capacity is already spoken for. The outlook has sent
retailers on the hunt for alternatives.
New 5G iPhones Kick Off Poaching Season for Carriers
While AT&T, T-Mobile and Verizon all use Apple's high-speed
cellular capabilities to promote their networks, their pitches
differ.
CICC Poised to Raise $1.97 Billion in Shanghai Listing
The A-share listing of CICC, a leading brokerage and investment
bank in China, comes as the country further opens up its financial
markets to foreign firms, which could ratchet up pressure on
domestic players.
Zuckerberg, Dorsey and Pichai to Testify on Content Policies
CEOs of Facebook, Twitter and YouTube-parent Alphabet Inc. will
appear before a Senate committee on Oct. 28 to face questioning
about their policies for moderating content on their internet
platforms.
Peter Roth to Step Down as Warner Bros. TV Chief
The longtime production head said he is stepping down early next
year after helping to develop such hits as "The West Wing," "The
Big Bang Theory" and "Two and a Half Men."
American Equity Chooses Brookfield Deal Over Takeover Offer
American Equity Investment Life Holding rejected a takeover
offer by Massachusetts Mutual Life Insurance and Athene Holding and
said it reached a partnership with Brookfield Asset Management.
LLR Collects $1.8 Billion to Invest in Lower Midmarket Businesses
Philadelphia-based LLR closed on the capital late last week,
after kicking off fundraising for the new vehicle, LLR Equity
Partners VI LP, in early March, said Mitchell Hollin, a partner at
LLR.
Amazon Primes the Third-Party Pump
With so much going its way already, one might wonder why
Amazon.com keeps bothering with Prime Day. The answer is that it
seems to have become a profitable endeavor.
(END) Dow Jones Newswires
October 18, 2020 23:00 ET (03:00 GMT)
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