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News Highlights : Top Company News of the Day

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12/07/2018 | 11:16am EST
Altria Takes Stake in Canadian Cannabis Company 
 

Altria, the parent of tobacco company Philip Morris USA, said it is taking a 45% stake in Canadian cannabis company Cronos.

 
As Huawei Pushback Grows, Samsung Will Appoint New 5G Network Chief 
 

Samsung Electronics is replacing the head of its unit that provides next-generation 5G equipment, according to people familiar with the matter, a shake-up atop a key business looking to rapidly grow sales as global pushback builds against market leader Huawei Technologies.

 
China Sports Retailer Anta Nears $5.2 Billion Deal for Amer 
 

China's leading homegrown sports retailer, Anta, is looking to buy Finland's Amer-maker of Atomic and Arc'teryx winter gear and Wilson tennis rackets-to better compete against Nike and Adidas in its fast-growing home market.

 
U.S. Companies Feel Pinch as Tariff Costs Mount 
 

American companies that import products are paying record amounts in customs duties as more tariffs imposed by the Trump administration take effect.

 
Genomics Startup Human Longevity's Valuation Falls 80% 
 

A fundraising round this week values Human Longevity, which raced to a billion-dollar-plus valuation on the hopes it could apply advances in genomics to improve medicine, at around $310 million.

 
Canada Faces Pressure to Ban Huawei Equipment 
 

Canada's detention of a senior executive at Huawei Technologies comes at a time when Ottawa is under intense pressure to prohibit the use of the Chinese company's gear in its telecommunications networks.

 
Huawei Arrest Sparks Retaliation Fears 
 

American and European executives in China are bracing for potential blowback from Chinese authorities after the arrest of Huawei finance chief Meng Wanzhou, according to lawyers and business groups.

 
Amazon's Cloud Hasn't Obscured Microsoft 
 

Amazon may seem to have a comfortable lead in the cloud. It isn't taking any chances, though-particularly considering its crosstown competition from Microsoft, which has a few key strengths in the cloud-computing sector.

 
Tesla Replaces General Counsel With Seasoned Trial Lawyer 
 

The Silicon Valley electric-car maker plans to replace Todd Maron, a confidant of Elon Musk, with Washington, D.C., trial lawyer Dane Butswinkas.

 
Toy Sorry: Holidays May Give Hasbro, Mattel a Lump of Coal 
 

The demise of Toys "R" Us is making this holiday season a lot tougher for traditional toy makers Hasbro and Mattel, dashing early optimism.

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