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News Highlights: Top Company News of the Day

06/11/2020 | 11:16am EDT
PG&E Launches Hunt for $20 Billion for Bankruptcy Exit 

PG&E Corp. is asking a bankruptcy judge for an order allowing it to go to market to sell $20 billion worth of new debt and equity as it awaits approval of its plan to exit chapter 11.

Regeneron Begins Testing Coronavirus Antibody Cocktail 

The company plans to evaluate whether a combination of two antibodies can treat Covid-19 patients and possibly prevent infections. If the drug proves to work safely, it could be available for emergency use as early as the fall.

Amazon to Face EU Antitrust Charges Over Treatment of Third-Party Sellers 

The EU plans to file formal antitrust charges against Amazon.com, according to people familiar with the matter, the latest step in a nearly two-year probe into the company's alleged mistreatment of sellers that use its platform.

The Tesla of Trucking Has a Long Road Ahead 

Investors in electric-truck startup Nikola need to make sense of a valuation equivalent to seven times revenues that aren't expected until 2024.

Unilever, Maker of Hellmann's and Dove, Tries to Restructure-Again 

The consumer-goods giant said it would consolidate its dual British and Dutch corporate structure into a single company based in the U.K., a move it hopes will allow it to more nimbly navigate the challenges posed by the Covid-19 pandemic.

Google Makes Android a No-Show 

Working from home is taking on a whole new meaning for tech giants accustomed to drawing a crowd, and Google became the latest one to make do without the fanfare of a live event as it released the beta version of Android 11.

GM Wants to Leave Australia, but Breaking Up Is Hard to Do 

The decision to scrap much of its Australia operation highlights the difficulties the Detroit auto maker faces as it tries to leave unprofitable markets.

Zoom Catches Heat for Shutting Down China-Focused Rights Group's Account 

Zoom Video Communications drew fresh questions over its relationship with Beijing when it shut down a U.S. human-rights organization's account shortly after its videoconference on the 1989 Tiananmen Square massacre.

Ocado Raises GBP1B to Fund Growth 

Ocado has raised more than GBP1 billion in fresh funds to capitalize on opportunities arising from the significant growth in online grocery shopping.

Centrica to Cut 5,000 Jobs in Restructuring 

British Gas owner Centrica plans to cut 5,000 jobs in a restructuring that will remove three management layers and force the departures of the heads of its consumer and business divisions.


Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -0.08% 36.99 Delayed Quote.0.00%
CENTRICA PLC -2.56% 48.04 Delayed Quote.3.09%
DUAL CO., LTD. -0.53% 4715 End-of-day quote.39.70%
ZOOM VIDEO COMMUNICATIONS, INC. -0.60% 359.23 Delayed Quote.6.50%
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