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News Highlights: Top Company News of the Day

10/22/2020 | 05:16am EST
Hygiene Products Power Sales at Consumer Goods Giants 
 

Unilever, Rentokil Initial and Reckitt Benckiser all reported higher third-quarter sales this week, as a second wave of the coronavirus pandemic boosted demand for disinfectants and other hygiene products.

 
IAG Posts EUR1.3B billion Loss 
 

British Airways-owner AIG reported a loss of EUR1.3 billion for the third quarter and cut its fourth-quarter capacity to 30%, blaming the continued travel uncertainty.

 
Google, Justice Department Each Face Challenges in Court Fight 
 

The U.S. government needs to show how Google's alleged conduct is harmful even as it gives away its services, experts say. Google likely will need to explain why it has paid billions to ensure its search engine is the default on mobile phones.

 
Tesla Extended Profit Streak With Record Quarterly Sales 
 

The electric-car maker revived a pre-pandemic target to build at least 500,000 vehicles this year.

 
Bankruptcy Judge Delays Garrett Motion Sale Process 
 

A bankruptcy judge delayed a ruling on the auto supplier's request to move ahead with a proposed sale to KPS Capital Partners, saying the offer isn't clearly superior to a rival bid and urging more time to negotiate.

 
Chipotle Books Record Sales From Online Orders 
 

Chipotle Mexican Grill reported its largest-ever quarterly sales as online orders helped offset lost restaurant traffic during the coronavirus pandemic, though the shift created costs that are weighing on profit.

 
Whirlpool Strains to Meet Appliance Demand 
 

Whirlpool said supply-chain disruptions are preventing it from making all the kitchen mixers, refrigerators and washing machines Americans are ordering as they wait out the coronavirus pandemic at home.

 
Quibi Is Shutting Down Barely Six Months After Going Live 
 

Founder Jeffrey Katzenberg and Chief Executive Meg Whitman decided to shut down the company in an effort to return as much capital to investors as possible instead of trying to prolong the life of the company and risk losing more money.

 
Purdue Pharma Reaches $8.34 Billion Settlement Over Opioid Probes 
 

The settlement, which includes guilty pleas, helps clear the way for the bankrupt OxyContin maker to pay cities and states that accuse it of fueling the opioid crisis.

 
Former Google CEO Fires Back at Antitrust Suit 
 

Eric Schmidt says the government's lawsuit against the search giant was misguided: "There's a difference between dominance and excellence."

(END) Dow Jones Newswires

10-22-20 0515ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.11% 1823.76 Delayed Quote.36.16%
CHIPOTLE MEXICAN GRILL INC. 1.98% 1334.62 Delayed Quote.59.43%
GARRETT MOTION INC. -4.26% 4.5 End-of-day quote.-51.35%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. -0.26% 169.55 Delayed Quote.-60.35%
KPS AG -0.39% 5.1 Delayed Quote.-29.46%
RECKITT BENCKISER GROUP PLC 2.13% 6436 Delayed Quote.5.01%
RENTOKIL INITIAL PLC -0.82% 495.1 Delayed Quote.9.29%
TESLA, INC. 0.95% 599.04 Delayed Quote.615.99%
UNILEVER N.V. 1.11% 50.82 Delayed Quote.-0.80%
WHIRLPOOL -1.51% 184.07 Delayed Quote.24.77%
WHIRLPOOL S.A. 5.23% 8.25 End-of-day quote.-19.51%
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