News Highlights : Top Company News of the Day

09/16/2020 | 05:16pm
Deutsche Bank Tells U.S. Staff They Can Wait Until Mid-2021 to Return to Office 

The German bank recognized New York's "success in containing Covid" but added that workers have "understandable concerns about public transportation, cleanliness, security and other quality of life issues."

Republican Lawmakers Question TikTok-Oracle Deal 

Senators are worried about the continued involvement of the video-sharing app's Chinese owner in a deal to pair TikTok with Oracle.

Snowflake's Stock Price Soars in IPO 

Snowflake's shares made their debut at $245 a share on their first day of trading, more than double the IPO price.

KKR Leads $450 Million Funding for Online Fitness Platform Zwift 

A specific valuation for the Series C round wasn't disclosed, but a Zwift representative said it exceeded $1 billion.

Amazon Music Joins Podcasting Fray 

The company is looking to attract new listeners with a roster of 70,000 titles including originals from DJ Khaled and Dan Patrick.

Kodak Didn't Break Law When Loan Was Revealed, Its Review Finds 

A special committee hired by the company's board found several governance concerns regarding the announcement of a planned $765 million loan from the U.S. government, but said none of them violated the law.

Covid-19 Antibody Drug Shown to Reduce Hospitalizations, Eli Lilly Says 

An antibody-based drug derived from the blood of an early U.S. survivor of Covid-19 reduced the rate of hospitalization compared with a placebo in a new study of people recently diagnosed with the disease, said Eli Lilly, one of the drug's developers.

FAA, Boeing Blasted Over 737 MAX Failures in Democratic Report 

A report from House Democrats reveals details of how Boeing design errors, lax government oversight and lack of transparency by the plane maker and regulators set the stage for two fatal 737 MAX crashes.

LVMH Is Unlikely to Replace Tiffany With Another Deal 

Luxury stocks are up since the $16 billion deal for the U.S. jeweler collapsed, driven by bets-perhaps ill-advised-that the French bidder has spotted another target.

Warburg, Management Commit Up to $1 Billion for New Tech Platform 

Private-equity firm Warburg Pincus is joining forces with three veteran technology executives to form a new platform company and arming them with up to $1 billion in equity to hunt for deals.


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