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News Highlights: Top Company News of the Day

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07/16/2020 | 05:15pm EDT
Netflix Names Ted Sarandos Co-CEO 

Netflix continued to be a beneficiary of the shelter-in-place world with the streaming giant beating its forecast for new subscribers as it named programming chief Ted Sarandos co-chief executive.

Airline Job Cuts Heat Up Aid Discussions 

Looming layoffs at airlines have unions and some lawmakers pushing for more government aid to the industry before an Oct. 1 cutoff.

Russian Hack Alert Shows Scale of Health Care's Cybersecurity Challenge 

Thursday's alert from the National Cyber Security Centre in the U.K., backed by U.S. and Canadian agencies, was unusually direct in its attribution, blaming a hacking group linked to Russian security services. The Kremlin has refuted the allegations.

FBI Probes Twitter Hack Amid Broader Security Concerns 

The Federal Bureau of Investigation is examining the attack on the social-media platform, amid concerns that the vulnerability of Twitter's systems could pose broader risks to international security.

U.K. Audits Get Worse, Falling Shorter of Regulator's Standards 

Audits of company finances in the U.K. got worse in quality, continuing to miss standards set by the Financial Reporting Council, which recently mandated broad changes in the industry aimed at improving oversight and accountability.

Vox Media Lays Off 6% of Workforce 

The publisher of New York magazine, the Verge and SB Nation said the action affecting about 70 people reflects the economic fallout from the coronavirus pandemic.

How Germany's SEC Dismissed a Decade of Warnings About Wirecard 

Germany's top financial supervisor received detailed warnings about deceptive financial practices at Wirecard starting in 2008 but repeatedly declined to investigate the allegations, turning instead against the accusers.

Ernst & Young Says It Isn't Responsible for Luckin Coffee's Accounting Misconduct 

The auditor to Luckin Coffee said it bears no responsibility for the Chinese coffee chain's 2019 financial statements and what it called the company's fraudulent misconduct.

Bank of America Sees Reasons for Optimism in a Coronavirus Economy 

The large lender's profit tumbled in the second quarter after the bank set aside billions of dollars to prepare for soured loans, but executives say they see early signs of a rebound.

Abbott Laboratories Gets Boost From U.S. Covid-19 Testing 

The medical company recorded a surge in revenue in its U.S. diagnostics business during the second quarter.


Stocks mentioned in the article
ChangeLast1st jan.
ABBOTT LABORATORIES 0.96% 104.44 Delayed Quote.20.24%
BANK OF AMERICA CORPORATION 2.55% 24.09 Delayed Quote.-31.60%
LUCKIN COFFEE INC. 1.04% 2.905 Delayed Quote.-92.70%
NETFLIX, INC. 1.61% 490.65 Delayed Quote.51.64%
WIRECARD AG -1.85% 0.7852 Delayed Quote.-99.27%
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