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News Highlights: Top Company News of the Day

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07/24/2020 | 04:16pm EDT
Bridgewater Associates Lays Off Several Dozen Employees 
 

The world's largest hedge fund made layoffs in its research department, client-services team and among recruiters, an unusually large cut amid a difficult period for Bridgewater's business.

 
McDonald's to Require Face Masks in U.S. Restaurants 
 

McDonald's says it will require all U.S. customers to wear masks in its stores beginning next month, joining Walmart and other companies that decided that face coverings are needed to help prevent the spread of the coronavirus.

 
Pandemic Continues to Hit Multiple Sectors: Earnings at a Glance 
 

Companies in a range of industries reported results detailing hardship the Covid-19 pandemic has inflicted across the economy.

 
NRG Energy to Acquire Direct Energy for $3.6 Billion 
 

The wholesale and retail power company will add more than three million customers throughout the U.S. and Canada with the acquisition, which will widen its geographic footprint.

 
Verizon Revenue Drops as Pandemic Slows Phone Shopping 
 

The largest U.S. cellphone carrier continued to add customers during the coronavirus pandemic, though quarterly revenue declined in its core wireless business and its online advertising unit.

 
Schlumberger Cuts 21,000 Jobs Amid Historic Oil Downturn 
 

The world's largest oil-field services company is cutting about 21,000 jobs as oil producers slash spending in response to a historic drop in prices amid the coronavirus pandemic.

 
Goldman Settles 1MDB Dispute With Malaysia for $3.9 Billion 
 

The Wall Street bank will pay $2.5 billion to the government of Malaysia for its role in the alleged theft of billions of dollars from a government investment fund, and guarantee the recovery of $1.4 billion in assets allegedly stolen from the fund.

 
China Pushes Energy Reform With Pipeline Deals 
 

China is moving to wean its economy off coal and boost use of cleaner natural gas, with two of the country's energy giants set to pump nearly $56 billion of assets into a new national pipeline firm.

 
Honeywell Hit Hard by Aviation Slump Despite N95 Mask Gains 
 

Honeywell's quarterly sales fell 19% as Covid-19 damage to its big aerospace business offset rising demand for the conglomerate's N95 face masks and other protective gear.

 
American Express Reports $1.6 Billion in Provisions for Credit Losses 
 

The credit-card company reported a large drop in second-quarter profit as it logged provisions of $1.6 billion to cover potential credit losses. The company said the Covid-19 pandemic significantly affected quarterly results.

 
 


Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN EXPRESS COMPANY 0.19% 91.24 Delayed Quote.-26.71%
HONEYWELL INTERNATIONAL INC. 0.21% 164.95 Delayed Quote.-6.81%
LONDON BRENT OIL 0.53% 37.86 Delayed Quote.-43.09%
MCDONALD'S CORPORATION -0.91% 213 Delayed Quote.7.79%
NRG ENERGY, INC 1.54% 31.62 Delayed Quote.-20.45%
SCHLUMBERGER LIMITED 3.39% 14.94 Delayed Quote.-62.84%
VERIZON COMMUNICATIONS INC. 0.41% 56.99 Delayed Quote.-7.18%
WALMART INC. -0.84% 138.75 Delayed Quote.16.75%
WTI -1.29% 35.72 Delayed Quote.-41.06%
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