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News Highlights: Top Company News of the Day

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08/20/2019 | 03:16am EDT
BHP Pledges Record Payout as Profit Surges 

BHP Group said its annual net profit more than doubled because of strong iron-ore prices and large charges the year before that weren't repeated.

States to Move Forward With Antitrust Probe of Big Tech Firms 

A group of state attorneys general is preparing to move forward with a joint antitrust investigation of big technology companies, according to people familiar with the situation, adding another layer of scrutiny to an industry already under a federal spotlight.

Baidu, China's Private-Sector Bellwether, Reports 62% Profit Drop 

China's economic downturn helped drive search-engine giant Baidu to its weakest quarterly revenue growth in more than two years and a 62% profit drop, with the company warning its bread-and-butter advertising business will remain under pressure.

McKinsey Dodges Lawsuit Targeting Its Bankruptcy Disclosures 

A federal judge dismissed a racketeering lawsuit brought against McKinsey & Co. by turnaround industry veteran Jay Alix, who claimed the consulting firm profited by failing to disclose conflicts of interest in bankruptcy cases.

Tesla to Rent Solar Panels to Homeowners 

Tesla is trying to inject new energy into its solar business by offering to rent panels in six states. Customers can cancel at anytime.

Viacom, CBS Executives to Earn Big From Merger 

Bob Bakish, who will become president and CEO of ViacomCBS, has signed a contract worth about $31 million a year. Joe Ianniello, who will be chairman and CEO of CBS at the combined company, will get earn about $70 million when the deal closes.

Mexican Telecom Company Maxcom Files for Bankruptcy in U.S. 

Maxcom Telecomunicaciones, the Mexico City-based company that builds last-mile connections to businesses and consumers, filed for bankruptcy in the U.S. with a deal in hand for a debt swap with bondholders.

Two Drugmakers Closing In on Opioid Settlements 

Drugmakers Endo International and Allergan are in talks to avoid going to a landmark trial set to begin in October over the opioid crisis, according to people familiar with the matter.

Twitter, Facebook Act Against Disinformation on Hong Kong Protests 

Twitter took down more than 900 accounts that it said were part of a Chinese government campaign to discredit protesters in Hong Kong by spreading misinformation.

Beauty Stocks Look Pretty After Upbeat Estée Lauder Earnings 

Investors are still betting on cosmetic companies despite the retail sector's tariff woes.

Stocks mentioned in the article
ChangeLast1st jan.
ALLERGAN PLC -0.06% 166 Delayed Quote.24.20%
BAIDU -0.59% 108.4 Delayed Quote.-31.65%
ENDO INTERNATIONAL PLC -5.85% 3.86 Delayed Quote.-47.12%
FACEBOOK 0.03% 188.14 Delayed Quote.43.52%
TESLA INC. -0.53% 243.49 Delayed Quote.-26.84%
VIACOM 0.04% 25.76 Delayed Quote.0.23%
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