HSBC's Profit Falls but Lower Provisions Boost Recovery Hopes
London-based bank HSBC's net profit fell in the third quarter as the coronavirus ravaged the global economy and political tensions between the U.S. and China intensified over Hong Kong.
BP Boosted by Upstream Recovery
BP reported a profit of $86 million for the third quarter, defying consensus forecasts, as the oil giant benefited from the absence of significant writeoffs, recovering prices and upstream demand.
NIH Halts Study Exploring Treating Covid-19 With Lilly Antibody, Remdesivir
Federal health researchers have halted testing a combination of Eli Lilly's Covid-19 antibody drug and remdesivir in hospitalized Covid-19 patients, after an independent committee found a lack of a benefit.
Ant to Raise More Than $34 Billion in Record IPO
The Chinese financial-technology giant will list its shares in what is set to be the world's biggest-ever initial public offering, a deal that bypasses U.S. stock exchanges.
Blackstone Raises $8 Billion for Second Long-Life Fund
Blackstone collected the pool during the early days of the coronavirus pandemic, which slowed fundraising across the industry. Calpers, however, provided a $1 billion boost to the fund in March.
Sheldon Adelson's Las Vegas Sands Considers Sale of Casinos in Namesake City
The sale price for its Venetian and Palazzo casinos and Sands Expo and Convention Center could be more than $6 billion, according to a person familiar with the deliberations.
J.C. Penney Lenders Trade Barbs Over Chapter 11 Split
A lawyer for J.C. Penney's top lenders accused a rival creditor group of "economic terrorism" during a court hearing on the escalating battle between hedge funds seeking bigger shares of the beleaguered department-store chain.
Veritas Capital Closes Maiden Credit Fund
Private-equity firm Veritas Capital closed its maiden credit fund last week, collecting $400 million to invest in companies at the intersection of technology and government, according to people familiar with the matter.
Hospital Merger Seeks to Create Regional Giant in the West
Utah's largest hospital system, Intermountain Healthcare, will expand into the Midwest with a proposed merger to create a regional hospital giant, in the latest pairing amid a spate of consolidation in the sector. Intermountain Healthcare and Sanford Health would operate 69 hospitals across six states.
Mexican-Restaurant Chain Rubio's Files for Chapter 11
Rubio's Restaurants, a chain of more than 150 Mexican eateries known for fish tacos, has filed for bankruptcy protection citing restrictions imposed due to the coronavirus pandemic.
(END) Dow Jones Newswires
10-27-20 0515ET
