News Highlights: Top Company News of the Day
23 May 2020 - 9:30AM
Dow Jones News
Hertz Preparing Bankruptcy Filing as Soon as This Weekend
A bankruptcy would make Hertz one of the highest-profile
corporate defaults yet stemming from the coronavirus pandemic's
impact on American travelers.
SEC Charges Hollywood Film Executive With Fraud
The Securities and Exchange Commission filed fraud charges
against a Hollywood movie executive for stealing money from a
BlackRock fund.
Payment Companies Increase Efforts to Combat Coronavirus-Related Frauds
Compliance teams at companies such as PayPal Holdings Inc. and
Western Union Co. have been closely monitoring early indicators of
fraudulent activities and incorporating them into their
investigation processes.
Facebook Rolls Out AI Tools to Help Small Businesses Sell Their Wares
The company this week introduced new artificial-intelligence
technology for two of its e-commerce platforms in an effort to make
it easier for customers to find and purchase products.
E-Commerce, Pizza Delivery Companies Post Surprising Pandemic Results: Earnings at a Glance
E-commerce company Alibaba Group Holding Ltd. and a
pizza-delivery business had higher revenue amid coronavirus
pandemic lockdowns, but they posted lower results on other
factors.
Nvidia's Immunity Boost Should Last
The chipmaker's data center revenue surged 80% from a year
earlier to cross the $1 billion mark for the first time. That
exceeded Wall Street's already high projections
Deere Lowers Outlook as Coronavirus Undercuts Demand
The farm-equipment maker said a yearslong slump in sales will
intensify as farmers further reduce spending amid weak demand for
their crops and livestock.
GM's Plans to Increase Truck Production Delayed by Parts Shortage
A shortage of parts from Mexico is hampering GM's plans to
quickly ramp up production of high-profit pickups, underscoring the
auto industry's halting restart after a two-month shutdown from the
pandemic.
Alibaba's Profit Tanks With Investment Loss
Alibaba's fourth quarter profit fell 88% from the same period a
year ago after the coronavirus pandemic affected the value of the
Chinese e-commerce giant's public investments.
Pakistan International Airlines Plane Crashes in Karachi
A Pakistan International Airlines domestic flight crashed as it
approached Karachi airport with at least 98 passengers and crew
aboard after the pilot said the plane had lost power.
(END) Dow Jones Newswires
May 22, 2020 19:15 ET (23:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.