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News Highlights: Top Company News of the Day

10/13/2020 | 05:16am EST
Johnson & Johnson Pauses Covid-19 Vaccine Trials Due to Sick Subject 

The company said an independent committee is reviewing the subject's illness, and it will review the medical information before deciding whether to restart the studies.

Blackstone-Backed Lender Is Set for IPO 

Finance of America Equity Capital, a Blackstone Group-backed consumer-lending platform, is set to go public with a $1.9 billion valuation in a merger with blank-check company Replay Acquisition.

Southwest Airlines to Challenge Rivals at O'Hare and in Houston 

The carrier is pushing into two of the largest U.S. airports, signaling its plan to grab market share from United and American, bigger rivals hobbled by the coronavirus pandemic.

Wisconsin Says Foxconn Doesn't Qualify for Subsidies 

Wisconsin officials have denied a request by Foxconn Technology Group for the first payments in what had been envisioned as $3 billion in state subsidies for a major technology complex.

Maersk Lifts Outlook as Demand Recovers 

Maersk raised its full-year guidance after noting a faster-than-expected rebound in shipping volumes and freight rates, but cautioned it will take a $100 million charge in the third quarter to cover the cost of 2,000 job losses.

Disney Elevates Streaming Unit in Reorganization 

The changes aim to give priority to Disney's streaming video businesses, creating new units that will produce content for digital and traditional platforms, in a shift echoing similar moves by other entertainment giants.

Cosco Shipping to Raise About $940 Mln via Sale of CIMC Stake 

Cosco Shipping Development will raise $939.8 million by selling its stake in China International Marine Containers (Group) to a state-owned investment management company.

PC Demand During Pandemic Fuels Strongest U.S. Market Growth in a Decade 

Remote work, study and home entertainment in the midst of the pandemic boosted personal-computer sales in the third quarter.

Facebook Bans Content Denying the Holocaust on Its Platforms 

Facebook said it would begin removing Holocaust denials or distortions from its social media platforms following years of complaints from civil rights groups that the company tolerated hate speech.

(END) Dow Jones Newswires

10-13-20 0515ET

Stocks mentioned in the article
ChangeLast1st jan.
A.P. MØLLER - MÆRSK A/S 3.72% 12405 Delayed Quote.29.11%
COSCO SHIPPING DEVELOPMENT CO., LTD. -1.64% 1.2 End-of-day quote.30.43%
COSCO SHIPPING HOLDINGS CO., LTD. 0.13% 7.97 End-of-day quote.152.22%
FACEBOOK INC 3.16% 276.92 Delayed Quote.34.92%
FOXCONN TECHNOLOGY CO., LTD. -1.53% 51.6 End-of-day quote.-22.05%
REPLAY ACQUISITION CORP. -0.30% 10.12 Delayed Quote.0.00%
SOUTHWEST AIRLINES 3.08% 48.25 Delayed Quote.-10.62%
THE BLACKSTONE GROUP INC. 1.22% 59.83 Delayed Quote.6.95%
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