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News Highlights: Top Company News of the Day

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09/15/2020 | 04:16am EDT
TikTok Strives to Settle Privacy Lawsuit as Oracle Deal Nears 

Lawyers for TikTok are pushing to settle a lawsuit in Illinois alleging the video-sharing app improperly collects data from its users, many of them underage, as its Chinese parent company closes in on a deal with Oracle.

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.

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.

Coronavirus Legal Fight Between Insurers and Businesses Goes Global 

A U.K. court will decide whether business-interruption policies are clearly worded, Australian insurers want to know whether a 100-year-old law that no longer exists excludes the pandemic, and a French court found in favor of a restaurant owner who sued for cover over government-ordered lockdowns.

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.

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.

Silver Lake-Led Group Invests $650 Million in Klarna 

The investment from a group led by private-equity firm Silver Lake represents a bet on a financial-technology company that has benefited from the ramped-up shift to e-commerce, and brings Klarna's valuation above $10 billion.

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.


Stocks mentioned in the article
ChangeLast1st jan.
BECTON, DICKINSON AND COMPANY -1.26% 229.54 Delayed Quote.-14.52%
CITIGROUP INC. -0.87% 40.718 Delayed Quote.-47.85%
FACEBOOK INC -6.19% 263.34 Delayed Quote.36.82%
FIAT CHRYSLER AUTOMOBILES N.V. -0.21% 10.542 Delayed Quote.-19.93%
REVLON, INC. -6.21% 4.335 Delayed Quote.-78.38%
SILVER 1.19% 23.549 Delayed Quote.31.53%
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