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News Highlights: Top Company News of the Day

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01/09/2020 | 11:16am EST
J.C. Penney, Kohl's Post Lower Holiday Sales 

A strong U.S. economy and robust consumer spending weren't enough to boost holiday sales at J.C. Penney, Kohl's and Victoria's Secret parent L Brands, which all reported lower sales in November and December.

Head of British Airways' Parent Company to Step Down 

Willie Walsh is stepping down after 15 years as chief executive, leaving one of the world's largest airline groups without its architect as it faces a series of challenges.

Verizon to Drop Cable Bundles and Ease Changes to TV Packages 

Verizon Communications is eliminating traditional cable bundles, making it easier for households to switch video packages in the hopes they won't cut the cord entirely.

Facebook to Keep Targeted Political Ads but Will Give Users More Control 

In a break with other tech companies, Facebook said it wouldn't limit how political ads are targeted to potential voters, but would instead give users tools to see fewer of those ads on its platforms.

Grubhub's Unexpected New Menu Options 

The food-delivery site is considering a sale or buying a rival, potentially undermining the CEO's recent defense of its profitable business model.

Blackstone Agrees to Sell European Property Joint Venture for EUR1.3 Billion 

Together with its joint-venture partner Round Hill Capital, Blackstone agreed to sell a residential property portfolio to Swedish real-estate firm Heimstaden Bostad AB for EUR1.3 billion ($1.44 billion), a Round Hill spokesman said.

Adding CBD to Food, Drink Was a Hot Trend, Until FDA Chimed In 

Big food-and-drink companies are slowing work on products containing cannabidiol after regulators sounded a note of caution, making space for smaller players to capture more of the budding market.

China's Answer to Starbucks Is Too Frothy 

China's home-brewed coffee champion, Luckin Coffee, is on a lucky streak. Investors may want to cut back on the froth.

Kaiser Permanente Bets on Smartwatches to Lower Costs 

Kaiser Permanente is expanding a program in which patients recovering from a cardiac event wear smartwatches to track whether they are exercising and taking their medication.

To Save Avon, New Owner Comes Calling on Social Media 

Brazilian cosmetics company Natura has set out to rescue Avon Products after years of unsuccessful turnaround attempts at the 134-year-old direct seller. The goal: turn Avon's nearly five million representatives into online influencers who sell on social media, through mobile apps and even in their own shops.

Stocks mentioned in the article
ChangeLast1st jan.
AVON PRODUCTS, INC. -0.89% 5.6 Delayed Quote.-0.71%
BOSTAD A/S 5.88% 2.16 Delayed Quote.0.93%
FACEBOOK -0.92% 215.465 Delayed Quote.5.96%
LUCKIN COFFEE INC. -2.29% 41.3864 Delayed Quote.7.60%
STARBUCKS CORPORATION -1.76% 88.53 Delayed Quote.2.53%
THE BLACKSTONE GROUP INC. -0.41% 62.46 Delayed Quote.10.78%
VERIZON COMMUNICATIONS -0.15% 58.1339 Delayed Quote.-5.68%
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