News Highlights: Top Company News of the Day

07/02/2020 | 07:16am
Lemonade Is Priced for Sweet Outlook 

The insurance-tech darling is set to begin trading on Thursday in an initial public offering.

Big Oil's Slippery Strategies for a Greener Future 

However they tackle the energy transition, oil-and-gas supermajors risk wasting shareholder capital on projects that don't pay back.

YouTube's Latest Margin Call 

The price rises on YouTube's pay-TV service as Google's ad business faces an unprecedented slowdown.

SoftBank Seeks to End Partnership With Wirecard 

SoftBank is looking to distance itself from Wirecard, after the Japanese tech conglomerate helped arrange an investment months before the German payments company went bust.

Novartis Finalizes Settlement of Speaker Program Litigation in U.S. 

As part of the settlement, Novartis said, it "agreed to new corporate integrity obligations with the Office of Inspector General of the U.S. Department of Health & Human Services that will change how the company delivers peer-to-peer programs in the U.S."

FraudScope Raises $7 Million to Tackle Health-Care Fraud 

Venture capitalists are betting that startup FraudScope can help health insurers combat fraudulent claims, which cost them billions of dollars and are a growing concern because of the coronavirus pandemic.

AB Foods Reassures on Primark Trading 

Associated British Foods said it was encouraged by trading in its reopened Primark stores but warned that profits for the fashion brand will fall to around GBP350 million at best in 2020.

DS Smith Won't Resume Dividend Despite Profit Rise 

Packaging group DS Smith posted a 5% rise in 2020 profit and said it only expects a short-term hit from coronavirus, but decided not to resume dividends due to market uncertainty.

Major Tech Company CEOs to Testify Before Congress 

Top executives of Amazon, Apple, Facebook and Google will appear before the House Judiciary Committee later this month.

McDonald's Halts Reopening Plans as U.S. Coronavirus Cases Grow 

McDonald's is pausing the reopening of dine-in service in the U.S. as coronavirus cases continue to spread across states.


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