News Highlights: Top Company News of the Day

10/28/2020 | 12:16am
Microsoft's Earnings Continue to Ride Pandemic-Fueled Demand for Cloud 
 

The software company said total sales rose 12% to $37.2 billion, generating a net profit of $13.9 billion in the first quarter of its fiscal year.

 
Bayer, BASF Weedkillers Cleared by EPA for Another Five Years 
 

The agency said its reapproval of dicamba herbicides, which have been blamed for damaging millions of acres of crops in recent years, would provide clarity to farmers who say they need the spray to combat hard-to-kill weeds.

 
Revlon Warns of Possible Bankruptcy Reorganization if Bond Swap Flops 
 

The beauty-products maker warned bondholders about the substantial risk of a bankruptcy restructuring if they don't participate in a proposed debt exchange.

 
Visa's Planned Purchase of Plaid Faces Antitrust Scrutiny at the Justice Department 
 

The DOJ, making preparations for potential litigation, could soon decide whether it will sue to block Visa's purchase of the fintech firm.

 
Equitable Reaches Deal With Venerable to Reinsure $12 Billion in Annuities 
 

Equitable has entered an agreement with Venerable for the privately held company to reinsure 114,000 variable-annuity policies sold between 2006 and 2008.

 
Eli Lilly Earnings, Halted Covid-19 Drug Trial Disappoint Investors 
 

The drugmaker reported lower-than-expected quarterly earnings due to pricing pressure on top products. It said it would proceed with plans to introduce a new coronavirus antibody treatment despite a recent setback.

 
Purdue Creditors Committee Criticizes U.S. Deal With Sackler Family 
 

The federal government's proposed settlement with the Sackler family members who own OxyContin maker Purdue Pharma ran into opposition from company creditors worried that less money will be left over for them.

 
Heineken to Acquire Cider Brand Strongbow From Asahi Group 
 

Heineken will buy cider brand Strongbow from Asahi Group in Australia, after the Japanese firm put up those assets for sale to meet regulatory requirements.

 
SoCal Edison Says It May Have Caused Orange County Wildfire 
 

The Silverado Fire has consumed more than 11,000 acres of tinder-dry brush in the foothills above Irvine and other cities south of Los Angeles.

 
Beam Suntory to Pay $19 Million to Settle Bribery Probe 
 

Beam Suntory Inc. has agreed to pay $19 million to resolve a criminal probe into bribes the maker of spirits allegedly paid to sell a line of its products in India, the U.S. Justice Department said.

(END) Dow Jones Newswires

10-28-20 0115ET

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