News Highlights: Top Company News of the Day
19 February 2020 - 3:30AM
Dow Jones News
PG&E Reports $3.6 Billion Quarterly Loss as Wildfire Costs Mount
The San Francisco-based utility, which filed for bankruptcy
protection last year due to billions in wildfire-related claims,
recorded an additional $5 billion in pretax charges related to a
settlement.
Walmart Posts Mixed Holiday Sales
Walmart reported sluggish holidays sales despite continued
online gains, adding to a string of disappointments from
traditional retailers as they adjust to changing shopping
habits.
Apple to Fall Short of Projected Revenue Due to Coronavirus
Apple became the first major U.S. company to say it won't meet
its revenue projections for the current quarter due to the
coronavirus outbreak, which it said had limited iPhone production
for world-wide sales and curtailed demand for its products in
China
HSBC Plans to Cut 35,000 Jobs, $100 Billion of Assets
Europe's biggest bank said it plans to scale back its operations
in the U.S. and mainland Europe, as well as its investment bank, as
it reported a sharp fall in net profit.
Franklin Resources to Buy Legg Mason for $4.5 Billion
The deal could help two big players in an industry that is under
pressure from shifting investor tastes.
Dell Nears Deal to Sell RSA Security Business to Private-Equity Firm STG
Dell Technologies is nearing a deal to sell its RSA
cybersecurity business to a private-equity firm for more than $2
billion, according to people familiar with the matter.
Nissan CEO Faces Rowdy Shareholders
Nissan Motor Chief Executive Makoto Uchida faced down angry
shareholders at a rowdy 2 1/2 hour meeting, where they questioned
whether he had a plan to reverse the company's widening losses.
Glencore Swings to Loss Amid Lower Commodity Prices
Glencore swung to a loss in 2019 as it wrote down $2.8 billion
in assets related to its businesses in coal and other
commodities.
Boeing Taps Feinberg to Distribute Money for 737 MAX Community Assistance
The plane maker enlisted victim-compensation attorney Kenneth
Feinberg to distribute $50 million to communities affected by two
crashes involving the 737 MAX.
Alstom to Buy Bombardier Train Unit
France's Alstom agreed to buy Bombardier's train unit in a deal
valued at $8.2 billion, including debt, infusing the Canadian
industrial giant with much-needed cash and creating what would be a
new, European-focused train giant big enough to take on China.
(END) Dow Jones Newswires
February 18, 2020 11:15 ET (16:15 GMT)
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