News Highlights: Top Company News of the Day

11/25/2020 | 05:16am
EU Official Raises Vetting Concerns Over BlackRock Contract 
 

An EU watchdog said the bloc's executive branch failed to properly consider potential conflicts of interest when it chose BlackRock to advise the EU on future banking regulations.

 
Penguin Random House Parent Near Deal to Buy Simon & Schuster From ViacomCBS 
 

ViacomCBS is close to a deal to sell book publisher Simon & Schuster to German media giant Bertelsmann for more than $2 billion, according to people familiar with the matter.

 
PC Sales Help HP, Dell Offset Weak Office Spending 
 

Remote working fueled strong demand for Dell and HP personal computers in the latest quarter, cushioning the impact from lower office-equipment spending.

 
JD Health Launches $3.5 Billion IPO in Hong Kong 
 

JD Health International, an online health-care business controlled by Chinese online retailing giant JD.com, has begun taking orders for a $3.5 billion initial public offering in Hong Kong.

 
Purdue Pharma Pleads Guilty to Felonies Over OxyContin Sales 
 

The guilty plea follows the approval last week by a U.S. bankruptcy court judge of an $8.34 billion settlement between Purdue Pharma and the Justice Department.

 
JPMorgan Chase Unit to Pay $250 Million Penalty Over Poor Internal Controls 
 

A top banking regulator fined a JPMorgan Chase unit $250 million over deficiencies in internal controls and internal audit practices.

 
Gap Reports Flat Quarterly Sales as Holiday Shopping Gets Under Way 
 

Gap's quarterly sales rebounded from spring shutdowns but increased marketing weighed on profits. Executives cautioned that rising Covid-19 infections could slow visits to stores during the holiday season.

 
Sealed Air Names New Finance Chief as Incumbent's Contract Nears End 
 

Sealed Air has hired a replacement for its chief financial officer, who had come out of retirement to take on the role after the packaging company fired his predecessor in relation to an investigation by U.S. securities regulators.

 
J.Crew Changes CEOs for Third Time in Three Years 
 

The apparel seller replaced its chief executive after less than a year in the role and just a few months after it emerged from bankruptcy protection with new hedge-fund owners.

 
Glitches Hit Trading Platforms Run by Bank of America, TD Ameritrade, Vanguard 
 

The popular platforms suffered glitches that rendered them inaccessible or slow to use, frustrating investors on a landmark day for the U.S. stock market.

(END) Dow Jones Newswires

11-25-20 0515ET

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