News Highlights: Top Company News of the Day
April 22 2020 - 7:15AM
Dow Jones News
For Roche, Demand for Coronavirus Products Offsets Disruption Elsewhere
Demand for coronavirus testing and a potential treatment for
patients with severe Covid-19 buoyed Roche in the first quarter,
even as the pandemic hit health-care provision in other disease
areas.
Amazon's French Shutdown Extended
Amazon.com will keep its French warehouses closed through
Saturday pending a court decision on its appeal of a previous
verdict restricting its activities in the country amid the
coronavirus pandemic.
Facebook Takes $5.7 Billion Stake in India's Jio Platforms
Facebook said it would pay $5.7 billion for just under 10% of
Indian telecom operator Jio Platforms, a massive expansion of the
social media giant's commitment to a promising market where it has
faced difficulties.
Negative Oil Prices Pose Headache for Futures Giant CME
Negative oil prices threaten to tarnish the image of West Texas
Intermediate, the U.S. crude benchmark, and hurt the company that
has long relied on it as a key source of revenue: exchange giant
CME Group.
Netflix Adds 16 Million New Subscribers
Netflix beat its forecast for subscriber growth in the first
quarter as consumers in many countries stayed at home due to the
coronavirus pandemic and hunted for ways to entertain
themselves.
Ericsson Backs Financial Targets
Ericsson cautioned its second half would take a modest hit from
the coronavirus pandemic but reaffirmed its financial targets
through 2022, despite the current economic uncertainty.
UniCredit to Book Additional Writedowns
UniCredit said it will book an additional EUR900 million in loan
loss provisions in the first quarter to reflect the economic impact
from the coronavirus pandemic.
Expedia Nears Deal to Sell Stake to Silver Lake and Apollo
Expedia Group is in advanced talks to sell a stake to
private-equity firms Silver Lake and Apollo Global Management after
widespread travel bans caused by the coronavirus pandemic ravaged
the online-booking company's business.
Shell Delays $1 Billion North Sea Development
Royal Dutch Shell has postponed its Jackdaw natural-gas field
development in the North Sea, as energy companies slash spending in
response to plummeting prices.
Richard Branson Fights to Save Travel, Tourism Empire
His Virgin Group is at epicenter of the meltdown in those
industries. Virgin Australia has filed for bankruptcy.
(END) Dow Jones Newswires
April 22, 2020 07:00 ET (11:00 GMT)
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