News Highlights: Top Company News of the Day

10/22/2020 | 07:16am
Goldman Fined $350 Million by Hong Kong Regulator Over 1MDB Scandal 

A Hong Kong regulator fined a local unit of Goldman Sachs Group $350 million for the investment bank's role in a multibillion-dollar scandal involving Malaysian investment fund 1MDB.

Covid-19 Vaccine Makers to Face Challenges When Recognizing Revenue 

Stockpiling, complex federal contracts and uncertainty around future demand could make accounting for Covid-19 vaccine sales tricky for drugmakers.

Google, Justice Department Each Face Challenges in Court Fight 

The U.S. government needs to show how Google's alleged conduct is harmful even as it gives away its services, experts say. Google likely will need to explain why it has paid billions to ensure its search engine is the default on mobile phones.

TikTok Deal Makers Await Judge's Ruling on U.S. Ban 

The fate of TikTok's U.S. operations could turn on whether a federal judge blocks the app's shutdown or bolsters the Trump administration's demand for a sale by ruling against the Chinese-owned business.

How Pfizer Partner BioNTech Became a Leader in Global Coronavirus Vaccine Race 

German biotech BioNTech SE worked on cancer treatments, and was developing an influenza vaccine with Pfizer Inc., when its founder, Ugur Sahin, led the company's pivot to the coronavirus in January.

UPS to Offer Employees a Way to Save for Emergencies 

The program gives UPS employees the option to divert a portion of their paychecks into rainy-day funds within their 401(k) plans.

Hygiene Products Power Sales at Consumer Goods Giants 

Unilever, Rentokil Initial and Reckitt Benckiser all reported higher third-quarter sales this week, as a second wave of the coronavirus pandemic boosted demand for disinfectants and other hygiene products.

IAG Posts EUR1.3B billion Loss 

British Airways-owner AIG reported a loss of EUR1.3 billion for the third quarter and cut its fourth-quarter capacity to 30%, blaming the continued travel uncertainty.

E-Commerce Marketing Tech Firm Rokt Raises $80 Million 

Rokt Pte Ltd., an eight-year-old e-commerce marketing software provider, has raised $80 million in Series D funding. The round, which was led by investment firm TDM Growth Partners, Rokt's largest backer, raises the company's valuation by 42% to more than $450 million, the company said.

Tesla Extended Profit Streak With Record Quarterly Sales 

The electric-car maker revived a pre-pandemic target to build at least 500,000 vehicles this year.

(END) Dow Jones Newswires

10-22-20 0715ET

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