News Highlights: Top Company News of the Day

11/23/2020 | 11:16am
Google Plans Fiber-Optic Network to Connect Via Saudi Arabia and Israel for First Time 
 

Project would connect the historical enemies, avoid Egypt and open a new corridor for internet traffic.

 
Snap Counters TikTok With Spotlight Feature 
 

The new service, known as Spotlight, pushes the owner of Snapchat into the fraught but potentially lucrative business of viral content.

 
Regal Cinemas Owner Lands Financial Lifeline, Averting Bankruptcy 
 

The owner of Regal Entertainment Group secured a financial lifeline after creditors supplied the struggling movie theater owner with a rescue loan and other debt relief.

 
Merck to Buy OncoImmune for $425 Million Amid Race for Covid-19 Treatments 
 

The drugmaker is buying biopharmaceutical company OncoImmune, which has reported positive results from a late-stage study of a coronavirus therapeutic candidate, for $425 million in cash.

 
AstraZeneca-Oxford Vaccine Up to 90% Effective in Trials 
 

The success of the vaccine being developed by the University of Oxford and AstraZeneca bodes well for the near-term availability of a third treatment for Covid-19, joining those from Moderna as well as Pfizer and BioNTech.

 
Danone Fights to Fix a Souring Growth Recipe 
 

Despite a focus on trendy health foods, Danone has lost investor support this year. Winning it back will be hard work as business becomes more competitive.

 
CoStar to Buy Homesnap for $250 Million 
 

CoStar Group, one of the world's largest providers of commercial real-estate information and analytics, has taken its first major step into the residential data business by agreeing to pay $250 million for Homesnap.

 
Facebook Ads Could Be Reaching Saturation Point 
 

Facebook has driven monster revenue growth quarter after quarter by driving up ad impressions and tinkering with prices to compensate. But that strategy may only work for so long before its users become overserved.

 
FDA Authorizes Regeneron's Covid-19 Antibody Cocktail Drug 
 

Regeneron's Covid-19 antibody drug is the second cleared this month to treat patients who aren't hospitalized but are at high risk of developing severe disease.

 
Bain Capital Raises $800 Million for Second Impact Investing Fund 
 

Bain Capital has raised $800 million in fresh capital to back businesses that the firm bets will benefit not only fund investors but also society at large.

(END) Dow Jones Newswires

11-23-20 1115ET

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