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News Highlights: Top Company News of the Day

10/21/2020 | 01:16am EST
Apollo Board Panel to Review Leon Black Ties With Jeffrey Epstein 

The law firm Dechert has been selected to examine the business dealings between the private-equity firm's CEO and the disgraced financier.

Netflix Subscriber Growth Slows Amid Heightened Competition 

Netflix added 2.2 million subscribers in the quarter on a net basis, short of its forecast in July of 2.5 million new subscriptions for the period.

Cathay Pacific to Cut 8,500 Jobs, Close Cathay Dragon Brand 

Cathay Pacific Airways will cut 8,500 jobs and shutter a subsidiary in a $284 million restructuring to offset the stark decline in air travel caused by the Covid-19 pandemic.

Disney Denounces California's Theme-Park Reopening Plans 

Disney said the strict guidance would significantly complicate the company's efforts to reopen Disneyland and criticized the government for applying inconsistent standards for different businesses in the state.

Justice Department Presses to Curtail Purdue Pharma Bankruptcy Probe 

The Justice Department is urging a bankruptcy judge to limit a creditor probe of OxyContin maker Purdue Pharma into the billions of dollars in profits collected by the Sackler family members who own the company.

Snapchat Nears 250 Million Daily Users as Advertisers Lift Spending 

Snap Chief Executive Evan Spiegel said he was pleased with the company's growth and will continue long-term investments on things including augmented reality for its app.

Pioneer Natural Resources to Buy Parsley Energy for $4.5 Billion 

The deal is the latest in a series of combinations in the U.S. shale-oil patch, which has been hard hit by the pandemic.

DOJ Files Google Antitrust Lawsuit 

The Justice Department lawsuit marks the most aggressive U.S. legal challenge to a company's dominance in the tech sector in more than two decades, with the potential to shake up Silicon Valley and beyond.

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

Goldman Sachs Group will pay about $2.8 billion and admit wrongdoing to end a bribery probe that stretched from Southeast Asia to Hollywood and reinforced a reputation for scandal that the Wall Street firm has spent years trying to shed.

Zoom's CFO Looks to OnZoom to Grow Revenue Opportunities 

Kelly Steckelberg is banking on the new events platform to boost the company's reach and revenues. Zoom has also recently introduced Zoom Phone and Zoom Rooms.

(END) Dow Jones Newswires

10-21-20 0115ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -1.83% 1754.4 Delayed Quote.30.99%
APOLLO GLOBAL MANAGEMENT, INC. -0.57% 43.62 Delayed Quote.-8.57%
CATHAY PACIFIC AIRWAYS LIMITED 0.41% 7.4 End-of-day quote.-35.76%
LONDON BRENT OIL 1.07% 48.24 Delayed Quote.-27.73%
NETFLIX, INC. -0.13% 490.7 Delayed Quote.51.65%
PARSLEY ENERGY, INC. -8.87% 12.53 Delayed Quote.-33.74%
PIONEER NATURAL RESOURCES COMPANY -8.62% 100.58 Delayed Quote.-33.55%
SNAP INC. -3.50% 44.42 Delayed Quote.172.01%
THE GOLDMAN SACHS GROUP, INC. -2.05% 230.58 Delayed Quote.2.38%
WTI 0.98% 45.635 Delayed Quote.-26.73%
ZOOM VIDEO COMMUNICATIONS, INC. 1.43% 478.36 Delayed Quote.603.06%
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