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News Highlights: Top Company News of the Day

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09/14/2020 | 06:15pm EDT
Facebook Buys REI's New Headquarters as Pandemic Prompts Sale 

Purchase of custom-made new headquarters near Seattle is the latest sign that big technology companies are driving commercial real estate markets during the coronavirus pandemic.

Covid-19 Test Maker Examines False-Positive Results in Nursing Homes 

Becton Dickinson is looking into multiple reports of false-positive Covid-19 results from its Veritor test machines supplied to nursing homes at the behest of the federal government.

Fiat Chrysler to Cut Dividend Ahead of Merger With PSA Group 

Fiat Chrysler Automobiles and PSA Group changed the terms of their merger to preserve cash as the two car makers shore up their financial positions following the negative effects of the coronavirus pandemic.

Revlon Faces Debt Crunch After Bond Exchange Fails 

The cosmetics company has failed to complete a distressed-bond exchange that would have extended a debt maturity and given it more time to get a handle on hundreds of millions in debt due in the coming months.

Berkshire Hathaway's BNSF Railway Names Kathryn Farmer as CEO 

Mrs. Farmer is set to become the first woman CEO of a major railway operator in North America after being named as Carl Ice's successor.

Regulators to Reprimand Citigroup for Failing to Improve Risk Systems 

The expected rebuke from the Office of the Comptroller of the Currency and the Federal Reserve accelerated planning for Chief Executive Michael Corbat's retirement.

GNC Scraps Auction, Going Ahead With Sale to China's Harbin 

The vitamin retailer is moving ahead with a sale to China's Harbin Pharmaceutical after no other offers emerged, even as the deal drew scrutiny from Sen. Marco Rubio.

Verizon to Buy TracFone in Deal Valued at Nearly $7 Billion 

Verizon has agreed to acquire prepaid wireless reseller TracFone from América Móvil in a deal worth nearly $7 billion in cash and stock, bringing the country's largest reseller of cellphone services under the wing of the country's biggest wireless provider.

Kodak Loan Draws Review From Watchdog 

A planned $765 million U.S. loan for Eastman Kodak to produce drug ingredients is under review by the inspector general of the agency that helped put together the deal.

Oracle Deal With TikTok to Undergo U.S. Security Review 

The Treasury Department said it would review an agreement for Oracle and others to revamp TikTok's U.S. operations with the aim of avoiding a ban of the popular video-sharing app because of its Chinese ownership.


Stocks mentioned in the article
ChangeLast1st jan.
BECTON, DICKINSON AND COMPANY -1.41% 229.11 Delayed Quote.-14.52%
CITIGROUP INC. -0.83% 40.79 Delayed Quote.-47.85%
EASTMAN CHEMICAL COMPANY -2.88% 79.76 Delayed Quote.1.27%
EASTMAN KODAK COMPANY -7.42% 6.8508 Delayed Quote.59.35%
FACEBOOK INC -6.41% 262.1101 Delayed Quote.36.82%
FIAT CHRYSLER AUTOMOBILES N.V. -0.21% 10.542 Delayed Quote.-19.93%
GNC HOLDINGS, INC. 0.17% 0.0596 Delayed Quote.0.00%
HARBIN PHARMACEUTICAL GROUP CO., LTD. -1.50% 3.28 End-of-day quote.-13.46%
REVLON, INC. -9.72% 4.1601 Delayed Quote.-78.38%
VERIZON COMMUNICATIONS INC. 0.12% 56.82 Delayed Quote.-7.56%
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