News Highlights: Top Company News of the Day

10/07/2020 | 11:16pm
Samsung Forecasts Highest Operating Profits in Two Years 

Samsung Electronics said it expects around 12.3 trillion won ($10.6 billion) in operating profits for the third quarter, rising on the same period a year earlier and driven by stronger smartphone and consumer electronics sales.

Facebook to Suspend U.S. Political Ads on Election Day 

The social-media company takes its latest step to combat potential confusion and abuse related to the vote.

Supreme Court Weighs Copyright Fight Between Google and Oracle 

The high court's justices seemed to look for a resolution to the multibillion-dollar battle that would retain legal protections for software code without throwing the tech industry into disarray.

Regulators Fine Citigroup $400 Million Over 'Serious Ongoing Deficiencies' 

In a consent order agreed to by the New York bank's board, the Federal Reserve faulted Citigroup for falling short in "various areas of risk management and internal controls."

Lyft Orders Up a Side Dish 

Lyft's partnership with Grubhub could turn out to be a sweet treat for the ride-sharing company's investors at a low cost.

Amazon Accused of Abusing Its Power in Rise as E-Commerce Gatekeeper 

A House antitrust panel this week zeroed in on and how the online retailer wields its market power in e-commerce to further strengthen its position.

Chicken-Industry Officials Indicted in Price-Fixing Probe 

Six current and former chicken-industry executives face price-fixing charges, marking an expansion of the U.S. government's antitrust prosecutions in the $65 billion poultry industry.

Eli Lilly Asks FDA to Authorize Covid-19 Antibody Drug 

The company is seeking emergency-use authorization of a treatment derived from a blood sample of one of the earliest U.S. survivors of Covid-19.

24 Hour Fitness Enters Restructuring Support Agreement 

24 Hour Fitness Worldwide Inc. on Wednesday said it entered into a restructuring support agreement with holders of about 73% of its secured debt and about 65% of its senior unsecured notes.

New TikTok Twist: Investment Firm Pursues Longshot Bid 

A low-profile investment firm is trying to entice the head of TikTok's parent company with a long-shot alternative bid, as the popular video-sharing app remains caught in a standoff between the U.S. and China.

(END) Dow Jones Newswires

10-07-20 2315ET

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