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News Highlights: Top Company News of the Day

11/19/2020 | 03:16am EST
Coca-Cola Improperly Shifted Profits Abroad, Tax Court Rules 

The beverage giant placed too much of its profit in its foreign operations instead of its higher-taxed domestic parent company, a U.S. Tax Court judge ruled.

Owner of Bath & Body Works, Victoria's Secret Gets Pandemic Lift 

L Brands, which owns both chains, said it swung to a profit and its overall sales rose 14% in the quarter ended Oct. 31.

Garrett Motion Judge Sets Up Estimation For Honeywell Asbestos Claims 

Garrett Motion filed for court protection in September amid a pandemic-driven sales decline and an escalating legal dispute with Honeywell over an arrangement under which Garrett Motion reimbursed the cost of settling asbestos injuries related to Honeywell products.

Nvidia Benefits From Sustained Remote Work, Videogaming Demand 

Graphics-chip maker's results were propelled by a pandemic-era boom in home computing and videogaming and the increasing use of its chips in big data centers.

Pike Street Closes Inaugural Fund Targeting Industrial Technology 

The firm closed on $237 million for its debut vehicle, exceeding its original

Ahold Delhaize Buys Majority of Delivery Company FreshDirect 

The owner of supermarkets including Giant and Stop & Shop said it would acquire a majority stake in grocery delivery company FreshDirect, expanding its U.S. presence as online ordering has boomed during the coronavirus pandemic.

Norwegian Air Shuttle Files for Bankruptcy Protection 

The trans-Atlantic carrier pioneered the Europe-U.S. budget market, racking up debt-then the pandemic struck.

Maersk Line Expects Trade Rebound in 2021 

Danish shipping and logistics giant A.P. Moeller-Maersk expects that the global container market could expand by up to 5% in 2021 in a rebound from the pandemic-driven hit to trade in the first half of this year.

FDA Clears First Covid-19 Test Performed Fully at Home 

The U.S. Food and Drug Administration authorized the first diagnostic coronavirus test that people can take by themselves and get results without the help of a lab, a step long awaited by public-health experts.

Apple Slashes App Store Fees for Smaller Developers 

Apple is cutting to 15% from 30% the commission it charges smaller developers that sell software through its App Store-a partial concession in its battle with critics over how it wields power in its digital ecosystem.

(END) Dow Jones Newswires

11-19-20 0315ET

Stocks mentioned in the article
ChangeLast1st jan.
A.P. MØLLER - MÆRSK A/S -3.18% 13225 Delayed Quote.0.48%
AHOLD DELHAIZE N.V. -0.25% 24.04 Real-time Quote.4.28%
APPLE INC. 0.17% 143.16 Delayed Quote.4.81%
GARRETT MOTION INC. 1.46% 6.26 Delayed Quote.39.28%
HONEYWELL INTERNATIONAL INC. -0.40% 201.06 Delayed Quote.-5.09%
L BRANDS, INC. -2.12% 43 Delayed Quote.18.12%
NORWEGIAN AIR SHUTTLE ASA -1.29% 61.1 Real-time Quote.-28.80%
NVIDIA CORPORATION -1.60% 537.41 Delayed Quote.4.58%
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