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News Highlights: Top Company News of the Day

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10/16/2019 | 01:16pm EST
UAW, GM Reach Tentative Labor Deal 

The United Auto Workers struck a tentative labor deal with General Motors, a critical step in ending a monthlong strike that has brought more than 30 GM factories in the U.S. to a standstill.

Amazon's Deliveroo Investment Attracts Formal U.K. Probe 

Britain's antitrust watchdog has launched a formal probe into Amazon.com's investment into Deliveroo, a British food-delivery startup.

Walmart and Mattel Lease 'Floors' in a Virtual Toy Store Run on Interactive Video 

Mattel and Walmart are trying out interactive video to market and sell toys through new virtual store called KidHQ.

Bank of America Profit Falls on Charge 

A one-time charge dented Bank of America's third-quarter profit, but the bank posted gains in its consumer, wealth and commercial businesses.

Broadcom Ordered by EU to Halt Allegedly Anticompetitive Practices 

The European Union ordered semiconductor maker Broadcom to stop requiring contract terms with customers that the bloc alleges are anticompetitive, even as a probe into the practices continues-the first time regulators have used such an injunction in 18 years.

Regional Lenders Lean on Fees to Fuel Revenue Growth 

U.S. Bancorp and PNC Financial Services Group, two of the country's biggest regional lenders, posted profit and revenue that were higher than expected, as higher fee income offset slower revenue growth from lending.

WeWork Founder Mixed Spiritual Group With Business 

WeWork founder Adam Neumann's relationship with the Kabbalah Centre, a spiritual organization that promotes a brand of Jewish mysticism, helped build the company from its early days.

Huawei Extends Hot Streak in the Face of U.S. Blacklisting 

Huawei's revenue rose 24% during the first nine months of the year, despite a U.S. export blacklisting against the world's largest maker of telecommunication equipment.

Highland Capital Management Files for Bankruptcy 

Highland Capital Management filed for bankruptcy protection to fend off investors suing it over a hedge fund that closed during the financial crisis.

German Car Makers' Better Half 

Third-quarter results from Germany's vehicle manufacturers could lift the tone after a first half marked by profit warnings and alarming macroeconomic data. But investors shouldn't be fooled into thinking better times are ahead.

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION -0.76% 32.69 Delayed Quote.33.69%
BROADCOM INC. -1.90% 311.67 Delayed Quote.22.57%
GENERAL MOTORS COMPANY -3.02% 35.28 Delayed Quote.5.47%
MATTEL -1.03% 11.57 Delayed Quote.15.82%
PNC FINANCIAL SERVICES GROUP 0.04% 151.78 Delayed Quote.29.83%
THE BANCORP, INC. -0.92% 10.8 Delayed Quote.35.68%
WALMART INC. -0.63% 119.13 Delayed Quote.28.71%
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