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News Highlights: Top Company News of the Day

09/22/2020 | 09:16am EST
China's Luckin Coffee Is Fined for Inflating Results 

China's top commerce regulator fined Luckin Coffee Inc. and dozens of companies that helped the coffee chain inflate its sales and expenses, wrapping up a monthslong investigation into the once-highflying company.

Blackstone Ready to Lend After Raising Record Property Debt Fund 

The investment firm closed this month on the largest real-estate debt fund ever, giving it plenty of cash to lend to property investors looking to go shopping during the pandemic.

Clarion Capital Banks More Than Sevenfold Gain on AML RightSource Sale 

Clarion Capital Partners sold portfolio company AML RightSource, a provider of consulting services to fight financial crime, to Gridiron Capital for $426.5 million.

Government Contracts Help Vertex Aerospace Navigate Economic Storm 

American Industrial Partners' bet on Vertex Aerospace has weathered the turbulence that has hit the aerospace industry, thanks in part to the support of its biggest customer, the U.S. government.

Chinese Leaders Split Over Releasing Blacklist of U.S. Companies 

Beijing has sped up development of a list that could be used to punish American technology firms, but some Chinese officials are mindful of moving too aggressively and say a decision should wait until after the U.S. election.

Activist Trian Fund Management Takes Stake in Comcast 

Trian Fund Management has taken a stake in Comcast in a bet that the cable giant's shares are undervalued. Comcast is one of the biggest companies ever targeted by an activist.

Senate Democrats Oppose Bonus for Purdue Pharma CEO 

Democratic senators are challenging the OxyContin maker's request to pay its chief executive a bonus that could total millions of dollars while the company is in bankruptcy, saying such an award would be offensive to the families harmed by the opioid crisis.

Volkswagen in Talks to Sell Bugatti Brand to Croatian Upstart 

VW, whose brands range from Audi to Porsche and Skoda to Lamborghini, is discussing the possible divestment with Croatia's Rimac Automobili.

Tiffany, LVMH Trial Set for Early January 

Tiffany sued LVMH earlier this month after the French luxury-goods company said it couldn't proceed with its $16.2 billion takeover of the U.S. jeweler.

Microsoft Buys Doom Owner in $7.5 Billion Videogaming Deal 

Microsoft said it would buy the parent company of videogame publisher Bethesda Softworks for $7.5 billion in cash.


Stocks mentioned in the article
ChangeLast1st jan.
AUDI AG -0.61% 1630 End-of-day quote.0.00%
COMCAST CORPORATION 0.51% 49.13 Delayed Quote.-6.24%
LUCKIN COFFEE INC. 1.47% 9.64 End-of-day quote.13.41%
LVMH MOËT HENNESSY - LOUIS VUITTON SE 0.10% 508.1 Real-time Quote.-0.65%
MICROSOFT CORPORATION 0.28% 224.97 Delayed Quote.0.86%
PORSCHE AUTOMOBIL HOLDING SE 3.12% 61.44 Delayed Quote.5.60%
THE BLACKSTONE GROUP INC. 0.72% 65.69 Delayed Quote.1.36%
VERTEX CORPORATION 3.08% 1906 End-of-day quote.6.01%
VOLKSWAGEN AG 5.00% 170.1 Delayed Quote.6.31%
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