News Highlights: Top Company News of the Day

11/20/2020 | 05:16am
WHO Recommends Against Use of Gilead Covid-19 Drug Remdesivir 
 

The World Health Organization said there isn't evidence that the antiviral drug reduces deaths or recovery times for patients suffering from the coronavirus.

 
Roblox Files to Go Public Amid Surge in Videogame Spending 
 

Videogame company Roblox has filed to go public at a time when the pandemic has supercharged demand for online gaming.

 
Regal Cinemas Owner in Talks for Rescue Package to Weather Theater Shutdowns 
 

Regal Entertainment Group owner Cineworld Group is in talks with investors for financial lifelines after months of empty theaters in the U.S. and U.K. during the coronavirus pandemic, according to people familiar with the matter.

 
Scooter Startup Lime Projects Year of Positive Ebitda as Riders Return 
 

Lime's CEO says the electric scooter rental company sees a resurgence in users after a steep drop in the spring. Its improvement could be a hopeful sign for the sector.

 
Oil Giant Aramco's Strong Stock Is a Mirage 
 

The best-performing big oil stock this year is one roundly rejected by global investors: Saudi Aramco. Most of the credit belongs with its shareholders rather than its management.

 
Tyson Suspends Managers After Lawsuit Claims They Bet on Covid-19 Infections 
 

Tyson Foods said it suspended managers at an Iowa pork plant following allegations that some wagered on the number of workers who would become infected with Covid-19, as the pandemic roiled the meat industry last spring.

 
Reliance's Retail Unit Completes $6.38 Billion Fund Raising 
 

Reliance Industries' retail unit has raised $6.38 billion by selling 10.09% stake to over half-a-dozen foreign investors including TPG Inc. and KKR, making it one of the largest such fundraising exercises in India within two months.

 
Sinclair Networks to Rebrand as Bally's in Sports Betting Partnership 
 

Sinclair Broadcast Group is teaming up with Bally's to use the casino operator's brand on its regional sports networks and integrate gambling content to fill the airtime during and between games.

 
BuzzFeed to Acquire HuffPost in Stock Deal With Verizon Media 
 

BuzzFeed is acquiring Verizon Media's HuffPo, the companies said, uniting two large digital media players in a sector looking to jump-start growth.

 
GM Ups Bet on EVs as Investors Swoon for Electric Cars 
 

The auto maker is raising its bet on electric cars by more than a third, as it hustles to convince a skeptical Wall Street that it too can be successful in the nascent market.

(END) Dow Jones Newswires

11-20-20 0515ET

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