News Highlights: Top Company News of the Day

11/24/2020 | 05:16am
BlackRock to Buy Equity-Index Provider Aperio for $1 Billion 
 

BlackRock is acquiring Aperio Group LLC, a firm that helps build custom portfolios for wealthy individuals, in a push by the world's largest money manager to add more personalization to its offerings.

 
York Capital Management to Largely Wind Down Hedge-Fund Operations 
 

Billionaire hedge-fund manager Jamie Dinan plans to shut down York's European hedge funds and to turn its flagship U.S. hedge fund into one running mainly internal money.

 
McCormick Nears Deal to Buy Hot-Sauce Maker Cholula 
 

The seasonings company is in talks with L Catterton, the private-equity firm that owns Cholula, for a deal that would value the hot-sauce brand at $800 million.

 
Apple Security Chief Offered iPads to Police as a Bribe for Gun Permits, Prosecutors Allege 
 

Apple's head of security has been indicted on bribery charges for a scheme in which prosecutors allege he offered iPads to secure gun permits for his company's employees.

 
GM Stops Backing White House in Emissions Fight With California 
 

General Motors will no longer back the administration in its legal battle to strip California's authority to set its own fuel-efficiency regulations, saying GM's goals for green cars are aligned with the state and the new Biden administration.

 
Guitar Center Files for Chapter 11 Bankruptcy to Outlast Pandemic 
 

Guitar Center Inc. has filed for bankruptcy, planning to cut about $800 million in debt to ensure the nation's largest seller of musical instruments can withstand the economic turmoil caused by the coronavirus pandemic.

 
Google Plans Fiber-Optic Network to Connect Via Saudi Arabia, Israel for First Time 
 

Google's latest globe-crossing internet construction effort will connect through the countries while opening a new corridor for global internet traffic, according to people familiar with the plans.

 
GM to Recall 5.9 Million Vehicles With Takata Air-Bag Inflaters 
 

General Motors has agreed to replace potentially faulty Takata air-bag inflaters in millions of its pickups and SUVs, a fix ordered by federal safety regulators that could cost the auto maker more than $1 billion.

 
DuPont's Up-and-Down History Shaped Biden's Views on Business 
 

"Uncle Dupie" was a leading employer and philanthropist in Delaware, but declining profits and global competition put it in the crosshairs of shareholder activist Nelson Peltz.

 
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.

(END) Dow Jones Newswires

11-24-20 0515ET

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