News Highlights: Top Company News of the Day

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09/10/2019 | 03:15 am
Jack Ma


Moody's Cuts Ford's Bond Rating to Junk Status



The ratings company cited weak cash generation and a yearslong restructuring plan that the auto maker is undertaking just as the car market softens globally.




Activist Investor Challenges AT&T Over Strategy, Board



Activist investor Elliott Management disclosed a $3.2 billion stake in AT&T, criticized the company's strategy and called on the telecommunications giant to shed unnecessary assets. AT&T shares rose.




Uber, Lyft Poised to Lose Fight Against California Measure



The proposed bill would force ride-sharing companies Uber Technologies and Lyft to reclassify many drivers as full-time employees, likely upending their business model.




Wendy's Puts Breakfast on the Menu



The burger chain said it will bring back breakfast across its U.S. restaurants next year as fast-food companies compete to lure diners during more of the day.




Attorneys General Launch Probe of Google



A bipartisan group of 50 attorneys general representing almost every state officially kicked off an antitrust probe of Google, saying the search giant's dominance raises troubling concerns.




U.S. Files Criminal Charges Against Chinese Professor Linked to Huawei



The U.S. has filed criminal charges against a Chinese professor in Texas accused of stealing a U.S. startup's technology for Huawei Technologies, escalating the U.S.'s investigations into issues related to the telecom giant.




With Jack Ma's Retirement, Alibaba Loses Its Brash Leader



Jack Ma on Tuesday will step down as executive chairman of Alibaba, the nearly half-trillion-dollar online-shopping giant that he co-founded in an apartment in southern China two decades ago.




PG&E Plan Offers Nearly $18 Billion to Wildfire Victims, Public Entities



PG&E unveiled a plan to settle billions of dollars in wildfire-related claims and exit bankruptcy next year as it seeks to prevent creditors from taking over the embattled company.




Judge Asks Emerge Energy to Bolster Disclosure Statement



Bankrupt fracking-sand supplier Emerge Energy Services was asked by a judge to flesh out the blueprint of its chapter 11 plan, a key step in the Texas company's effort to free itself from what it says are burdensome contracts and leases.




Novartis Pledges More Transparency on Data Concerns



Novartis, under fire for keeping a data-manipulation issue with its treatment Zolgensma under wraps for several months, vowed to more quickly disclose any similar concerns in the future.






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