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News Highlights: Top Company News of the Day

10/23/2020 | 03:16am EST
Bayer's Request for Roundup Appeal Rejected by California Court 

The California Supreme Court declined to hear an appeal by Bayer seeking to reverse a jury verdict that the company's Roundup herbicide caused a groundskeeper's cancer, leaving the company with few remaining options to avoid paying a $20.4 million judgment.

Barclays Profit Tops Estimates 

Barclays posted above-consensus profits for the third quarter and set aside another GBP608 million provisions to cover the cost of coronavirus-related losses, less than forecast.

Daimler Lifts Profit Guidance 

Daimler raised its outlook for group earnings after the car maker profited from improving markets and cost-saving measures in the third quarter, and said it expects the momentum to continue.

Gucci Struggles as Pandemic Keeps Tourists Home 

Gucci reported a 12% drop in third-quarter sales as the Italian fashion house was hit hard by the absence of tourist shoppers from Asia during the pandemic.

Covid-19 Drug Remdesivir Fully Approved by FDA 

The U.S. Food and Drug Administration has granted a full final approval to Gilead Sciences Inc.'s remdesivir, making it the first Covid-19 treatment deemed safe and effective by the regulator, the company said Thursday.

Walmart Sues U.S., Aiming to Head Off Opioid Penalties 

Walmart sued the federal government in an attempt to strike a pre-emptive blow against what it said is an impending opioid-related civil lawsuit from the Justice Department.

Goldman Sachs Malaysia Subsidiary Pleads Guilty in 1MDB Case 

A unit of Goldman Sachs pleaded guilty to conspiring to violate U.S. antibribery laws, the first step in an expected resolution of a long-running investigation into its role in a Malaysian corruption scandal.

Uber and Lyft Must Classify Drivers as Employees, Appeals Court Says 

The ride-hailing companies must comply with an order that requires them to reclassify their drivers as employees, a California appeals court said, siding with a lower-court ruling that threatened to upend the business models.

Intel Hit as Consumers Flock to Lower-Cost Laptops, Datacenter Chips 

Chip giant Intel Corp. raised its full-year outlook even as earnings suffered as consumers gravitated to cheaper laptops and demand for datacenters softened.

California Loses Last-Ditch Effort to Force Exide to Deal With Toxic Legacy 

California taxpayers were left responsible for a contaminated plant outside Los Angeles after a judge turned down an emergency bid by state environmental regulators to block Exide Technologies from exiting bankruptcy.

(END) Dow Jones Newswires

10-23-20 0315ET

Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -0.91% 145.8 Delayed Quote.-18.20%
BAYER AG 0.12% 47.82 Delayed Quote.-34.32%
DAIMLER AG -0.17% 57.4 Delayed Quote.16.45%
GILEAD SCIENCES, INC. 0.02% 61.13 Delayed Quote.-5.92%
INTEL CORPORATION 0.69% 49.9 Delayed Quote.-17.19%
LYFT, INC. 9.57% 43.4 Delayed Quote.0.88%
THE GOLDMAN SACHS GROUP, INC. 2.40% 237.65 Delayed Quote.0.94%
WALMART INC. -1.39% 150.52 Delayed Quote.26.66%
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