News Highlights: Top Company News of the Day
16 September 2019 - 7:15PM
Dow Jones News
Attack Increases Risks for Saudi Aramco's IPO
The attacks on Saudi Arabia's oil facilities are testing new top
officials at the Saudi Arabian Oil Co. and the kingdom's national
oil ministry, adding fresh risk for investors hoping to take part
in Aramco's initial public offering.
Osram Overlooks Concerns to Recommend Ams Takeover Offer
Osram Licht has recommended that its shareholders accept Ams's
EUR4.3 billion takeover offer despite expressing concerns about the
Austrian semiconductor company's strategy and ability to manage the
takeover.
Boeing's Board to Weigh Engineering, Safety Changes Following 737 MAX Crashes
Boeing's board is expected to consider revamping the aerospace
giant's engineering department as among the first tangible internal
changes following two deadly crashes of its 737 MAX airliner.
OxyContin Maker Purdue Pharma Files for Bankruptcy
Purdue Pharma filed for bankruptcy protection with a partial
deal aimed at resolving thousands of lawsuits filed by states and
local municipalities accusing it of fueling the opioid crisis.
United Auto Workers Go On Strike at GM's U.S. Factories
Factory workers at General Motors went on a nationwide strike,
in the United Auto Workers' largest work stoppage in more than a
decade.
Global Cloud Xchange Files for Chapter 11 Bankruptcy
Global Cloud Xchange filed for bankruptcy protection Sunday
after reaching a deal with lenders that will erase $150 million in
debt and hands control of the telecommunications company to its
senior bondholders.
As Gucci Tripped on Social Media, Sales Fell
The fashion brand soared as it forged connections with hip-hop
artists and streetwear influencers on Instagram and other
platforms, but the momentum reversed when Gucci brought out a
sweater likened to blackface.
No One Wants to Hire the Fired Wells Fargo Branch Staffers
Wells Fargo fired thousands of branch employees as it tried to
deal with millions of potentially fake accounts-and now many of
those former workers say they are effectively blacklisted from the
banking industry.
It's a Wrap: MoviePass Ends Theater Subscription Service
MoviePass, which gained popularity for attempting to bring a
Netflix-style subscription approach to out-of-home entertainment,
offered a low price that proved to be unsustainable.
Opioid Relief Rally Is Likely to Stall
Momentum in settlement talks to resolve opioid litigation has
spurred a stock market rally, but the danger for investors is far
from over.
(END) Dow Jones Newswires
September 16, 2019 05:00 ET (09:00 GMT)
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