News Highlights: Top Company News of the Day
|07/02/2020 | 03:16pm|
Exxon Warns Production, Refining Losses to Hurt Earnings
Exxon Mobil warned of steep losses in its refining and oil-and-gas production businesses during the second quarter, signaling that the company is likely to report a second straight quarterly loss later this month.
Tailored Brands Skips Bond Payment, Starting 30-Day Clock
The operator of Men's Wearhouse and Jos. A. Bank stores has skipped a payment to bondholders, but the struggling retailer elected to make scheduled interest payments to lenders due the same day.
Alexion to Pay More Than $21 Million to Settle Bribery Claims
Alexion Pharmaceuticals agreed to pay more than $21 million to settle claims it bribed government officials to increase prescription drug sales in Turkey and Russia, the U.S. Securities and Exchange Commission said.
How Wirecard Went From Tech Star to Bankrupt
German prosecutors are probing whether the electronic-payments giant used fictitious income to inflate its sales and fool investors. The company and its auditors say $2 billion that is missing probably never existed.
Credit Suisse Funds Under Review Financed Nissan, Kellogg-and a Mogadishu Hotel Owner
Credit Suisse funds run with Greensill Capital have financed established companies, but a roster of lesser-known businesses inject risk into the portfolio, including several firms that got more in financing than they generated in revenue.
Treasury Reaches Loan Agreements With Five Major Airlines
American, Frontier, Spirit, Hawaiian and SkyWest will receive loans under coronavirus stimulus.
Tribune Publishing Gives Co-Founder of Hedge Fund Alden Global a Board Seat
Tribune Publishing said it has appointed Randall Smith, the co-founder of Alden Global Capital, to its board, giving the hedge fund further oversight of the newspaper company and extending a standstill agreement between them.
Tesla Quarterly Deliveries Fell Less Than Expected Amid Covid Shutdown
Tesla's second-quarter global deliveries fell 4.9% from a year earlier, a smaller decline than Wall Street had forecast for the electric-car maker, giving fuel to Elon Musk's growth plans despite the threat of an extended recession.
Lemonade Is Priced for Sweet Outlook
The insurance-tech darling is set to begin trading on Thursday in an initial public offering.
Cheap Online Live-TV Bundles Aren't So Cheap Anymore
Two major TV-over-internet bundles are raising prices this summer, which means smaller savings for many Americans who scrap their traditional pay-TV subscriptions for leaner, cheaper services.