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News Highlights: Top Company News of the Day

10/23/2020 | 07:16am EST
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.

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's Cloud Thickens 

The chip maker's data-center sales slow just as it faces key questions about manufacturing outlook.

FTC Staff Support Lawsuit Against Facebook 

Federal Trade Commission staff members are recommending that the agency bring an antitrust case against Facebook, according to people familiar with the matter, but commissioners haven't reached a decision.

French Court Asks Microsoft for Safeguards Against U.S. Surveillance of Health Data 

A French court has ruled that Microsoft can continue hosting a government-run project aggregating citizens' anonymous health data, but must guarantee no data will be sent to the U.S. or be shared with American intelligence.

Covid-19 Drug Remdesivir Fully Approved by FDA 

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

Gap's Story Looks Too Good to Be True 

The retailer's plans for its portfolio of brands are promising but ambitious.

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.

Pension Backers Focus Fresh Attention on Apollo Founder's Ties to Jeffrey Epstein 

Several pension backers of Apollo Global Management have expressed concern after a recent news report about financial ties between Leon Black, the firm's co-founder, and the late Jeffrey Epstein, who killed himself while awaiting trial on sex-trafficking charges.

Barclays Swings to Profit but Sees Persistent Headwinds 

Chief Executive Jes Staley sounded a cautiously optimistic note about the U.K. bank's prospects of rebounding from the coronavirus pandemic after it posted a profit in the third quarter.

(END) Dow Jones Newswires

10-23-20 0715ET

Stocks mentioned in the article
ChangeLast1st jan.
APOLLO GLOBAL MANAGEMENT, INC. 2.66% 45.58 Delayed Quote.-6.94%
BARCLAYS PLC 7.13% 150.2 Delayed Quote.-21.96%
FACEBOOK INC 3.16% 276.92 Delayed Quote.30.78%
GILEAD SCIENCES, INC. 0.60% 60.25 Delayed Quote.-7.83%
LYFT, INC. 0.36% 39.49 Delayed Quote.-8.53%
MICROSOFT CORPORATION 1.78% 213.86 Delayed Quote.33.41%
WALMART INC. 0.28% 151.36 Delayed Quote.27.00%
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