News Highlights : Top Company News of the Day

09/16/2020 | 05:15pm
Oracle Will Review TikTok Source Code to Watch for Chinese Access 
 

ByteDance would allow Oracle to review TikTok's source code and software to ensure there are no backdoors that allow the Chinese government or other entities to access the data, according to people familiar with the matter.

 
Sony to Launch Two PlayStation 5 Models This Fall 
 

With its console versions at $400 and $500, Sony is pursuing a similar strategy as Microsoft to woo more consumers.

 
Dave & Buster's Warns of Bankruptcy If No Lender Deal Struck 
 

In a sign of the coronavirus's severe effect on the dining and entertainment industry, Dave & Buster's has announced layoffs and warned that it might need to file for bankruptcy if it can't reach a deal with its lenders.

 
Deutsche Bank: U.S. Staff 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.

 
 

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