News Highlights: Top Company News of the Day
|10/01/2020 | 01:16am|
Bayer to Cut More Costs as Farm Business Hurts
The German chemicals and pharmaceuticals company said the coronavirus pandemic would hit its crop-science business harder than anticipated as prices for various crops fell and consumption of biofuel decreased.
Oil Giant Total Pledges Renewable Power Push
Total SA pledged to ramp up its spending on renewable energy and reduce its dependence on petroleum, the latest move by a major oil company toward cleaner power.
FAA Chief Gives Thumbs-Up to 737 MAX Fixes
Boeing got a tentative personal endorsement for fixes to its beleaguered aircraft from the head of the Federal Aviation Administration after he personally took one of the jets on a test flight.
Brett Icahn Poised to Rejoin His Father's Firm
Carl Icahn will remain in charge of Icahn Enterprises for now, but the company will adopt a plan for his son Brett to succeed him as chairman and chief executive of its investment segment within seven years.
Judge Extends Shield Protecting Purdue's Sacklers From Lawsuits
A bankruptcy judge has extended until next year a shield that protects Purdue's owners from litigation, saying the buffer is needed to facilitate negotiations with states on a settlement over the opioid crisis.
Allstate to Lay Off 3,800 Employees
One of the U.S.'s largest insurers said it plans to lay off about 8% of its approximately 46,000 workers.
NextEra, Renewable-Energy Giant, Seeks Greater Scale With a Duke Takeover
NextEra Energy's pursuit of Duke Energy could result in a merger of utility giants that would speed the renewable-energy transition in the South and Midwest.
Justice Department Opens Ventilator Antitrust Probe Focused on Medtronic
Investigators are reviewing whether the device maker's acquisitions limited competition in ventilator manufacturing, according to people familiar with the matter, following complaints about machine shortages during the pandemic.
Offshore Online Gambling Site Seeks to Become Legal U.S. Operator
A Costa Rica-based online sportsbook 5Dimes, which illegally took bets from Americans for years, reached a nonprosecution agreement with federal prosecutors as it tries to move into the legal sports-betting market.
CDC Extends Cruising Ban to Oct. 31
The Centers for Disease Control and Prevention extended its ban on cruise sailings in the U.S. by a month, to Oct. 31, matching industry plans to restart a business that has been largely suspended by the coronavirus pandemic.