News Highlights: Top Company News of the Day
07 April 2020 - 7:30AM
Dow Jones News
Carnival Soars After Saudi Sovereign-Wealth Fund Discloses Stake
Shares in the company rose 24% after Saudi Arabia's Public
Investment Fund disclosed an 8.2% stake in the world's largest
cruise operator.
Coronavirus Hits Meat Plants
The coronavirus pandemic is hitting U.S. meat operations,
slowing and temporarily halting production at some plants as
sickness and fear keep workers home.
PG&E's Settlement With California Fire Victims Is Fraying
Lawyers who brokered the $13.5 billion deal with the utility now
say they no longer support it and want changes, a stance that
threatens PG&E's effort to exit bankruptcy by summer.
Warren Buffett's Death-Spiral Deal
Berkshire Hathaway's financing of Occidental Petroleum's
Anadarko deal could see it own a large chunk of the company if it
gets paid in shares, unintentionally mimicking a predatory type of
financing.
Banks Stand to Lose More Than $100 Million on Loan to Luckin's Chairman
Loan default follows sharp decline in Luckin Coffee's share
price after the Chinese coffee chain said much of its 2019 sales
were fabricated.
Foursquare Merges With Factual, Another Location-Data Provider
Foursquare Labs is merging with yet another location-focused
startup, Factual, in an all-stock deal.
JPMorgan CEO Dimon Says He Is Expecting 'a Bad Recession'
JPMorgan Chase CEO James Dimon said his bank hasn't sought
looser regulations to help it handle the economic collapse caused
by the virus, detailing instead its ability to keep lending in even
more dire circumstances.
Car Insurers Give Millions in Coronavirus Refunds
One of the largest car-insurance companies in the country,
Allstate, and a smaller Midwestern auto insurer are refunding
hundreds of millions of dollars to their policyholders.
DDB's Clark Departs for Dentsu
Advertising holding company Dentsu named marketing veteran Wendy
Clark as the global chief executive of the Dentsu Aegis Network, a
collection of ad agencies.
SeaWorld Chief Executive Sergio Rivera Resigns After Five Months
The theme-park company said its finance chief, Marc Swanson, is
serving as interim chief executive amid a string of leadership
changes at the company in the past few years.
(END) Dow Jones Newswires
April 06, 2020 17:15 ET (21:15 GMT)
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