News Highlights: Top Company News of the Day

07/08/2020 | 07:16am
Omnicom Plans $20 Million in Podcast Ads on Spotify 

Omnicom Media Group is increasing its podcast investment now partly because audiences continue to grow and partly because technology is making the ads more targetable and measurable.

Facebook Is Doing Too Little on Civil-Rights Concerns, Auditors Say 

The social-media giant has been too reactive and slow in addressing hate speech, voter suppression and other problematic content on its platform, according to a report from lawyers hired by the company.

Allstate to Buy Rival Insurer National General for $4 Billion 

Allstate says the all-cash deal will help boost its business in the personal property-liability sector.

Deutsche Post Updates Outlook After Strong Earnings 

Deutsche Post said it expects operating earnings of up to EUR3.8 billion for the year, after the logistics company reported a 16% rise in second-quarter profit.

Traton Replaces its CEO 

Traton has appointed a new Chief Executive, with incumbent Andreas Renschler to stand down on July 15.

Electrolux Forecast Lifted by Sales Growth, Cuts 

Electrolux said it will report a smaller-than-expected loss for the second quarter of around $10.8 million, after sales growth of 3% in June and cost cuts.

These Jeans Look Faded in a Pandemic 

Levi Strauss's results appear worse than others, but that shouldn't send its share prices down so much.

Chubb's Pandemic Estimate Could Buffer Insurers 

Chubb's estimate of a $1.4 billion pretax loss due to Covid-19 is big, but not necessarily worse than many feared.

AMC Nears Financing Deal to Avert Near-Term Bankruptcy 

The cinema chain is nearing a restructuring deal that would help stave off a near-term bankruptcy filing while turning down a competing financing offer from senior lenders including Apollo.

Another Former eBay Worker Is Accused of Cyberstalking 

A retired police captain who oversaw security at eBay's European and Asian offices has been charged in a cyberstalking campaign that targeted a couple whom eBay executives viewed as critical of the company.


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