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News Highlights: Top Company News of the Day

10/20/2020 | 01:16pm EST
Uber Weighs California Overhaul if Ballot Measure on Workers Fails 
 

CEO Dara Khosrowshahi said only that the ride-hailing operator is "looking at all our options" if voters in the state defeat an effort by Uber and other companies to secure exemption from a law classifying drivers as employees.

 
DOJ Files Google Antitrust Lawsuit 
 

The lawsuit accuses the search giant of anticompetitive conduct and marks the most aggressive U.S. legal challenge to a company's dominance in the tech sector in more than two decades.

 
Goldman to Pay $2.8 Billion, Admit Wrongdoing to Settle 1MDB Charges 
 

Goldman Sachs Group will pay the U.S. government about $2.8 billion and admit wrongdoing in a Malaysian bribery scandal, settling charges stemming from its work with a corrupt government investment fund.

 
Intel's Deal With SK Hynix Shows Limited Space Left for Chip Makers 
 

Intel's $9 billion deal to sell most of its memory-chip business to the South Korean company accelerates the industry consolidation around a ubiquitous technology component.

 
P&G and Reckitt Clean Up on Pandemic-Driven Hygiene 
 

Procter & Gamble reported its biggest global sales increase in 15 years as the world's consumers spent more to keep their homes and themselves clean during the coronavirus pandemic. Reckitt reported its sharpest quarterly sales growth on record, driven by its hygiene unit.

 
Albertsons 2Q Profit Exceeds Analysts' Expectations 
 

Albertsons reported stronger sales for its latest quarter but demand was a bit slower when compared with earlier this year, when consumers loaded up on food to eat at home during the Covid-19 pandemic.

 
Lockheed Martin Sets Modest Sales Expectations 
 

The world's largest defense company said it expects sales to rise about 3% next year as it provided a first look at the impact of slowing military budget growth.

 
U.S. Banking Regulator Backs New Liquidity Requirements 
 

The board of the Federal Deposit Insurance Corp. voted 3-1 to adopt a final rule to set a so-called net stable funding ratio, obliging large banks to hold enough funding to meet their needs for up to a year.

 
Travelers More Than Doubles Quarterly Income 
 

Property-casualty insurance company Travelers Cos.'s reported an increase in profit and net written premiums for the quarter that ended last month and reported just under $400 million in pretax catastrophe losses.

 
UBS Profit Doubles on Trading Surge 
 

The Swiss lender said a surge in client trading and deal making is freeing up cash for dividends and share buybacks despite the coronavirus pandemic.

(END) Dow Jones Newswires

10-20-20 1315ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.11% 1823.76 Delayed Quote.36.16%
LOCKHEED MARTIN CORPORATION 1.27% 366.61 Delayed Quote.-7.02%
RECKITT BENCKISER GROUP PLC 2.13% 6436 Delayed Quote.5.01%
SK HYNIX, INC. 3.14% 115000 End-of-day quote.22.21%
THE GOLDMAN SACHS GROUP, INC. 1.75% 239.58 Delayed Quote.2.41%
UBER TECHNOLOGIES, INC. 4.46% 54.86 Delayed Quote.84.47%
UBS GROUP AG -0.43% 12.88 Delayed Quote.5.36%
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