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News Highlights: Top Company News of the Day

10/23/2020 | 11:16am EST
American Express Reports Higher Consumer Retail Spending 

The credit-card company said consumer retail spending improved in the third quarter, but spending on travel and entertainment remained substantially lower.

Huawei Shows Signs of Strain From U.S. Pressure on Chips 

China's Huawei is facing revenue pressure as the U.S. squeezes its chip supplies and an increasing number of countries shun its 5G gear.

Canadian Retailer Le Chateau to Liquidate Assets, Wind Down Operations 

Battered by the impacts of the coronavirus pandemic, the specialty retailer said it filed for bankruptcy protection with plans to liquidate its assets and wind down its operations.

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.

Capital One Opens Wallet on Credit Performance 

Capital One gave investors one of the most detailed pictures to date of what is happening to consumer debt. That should give investors some comfort about banks, though not as much about the consumer economy.

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.

(END) Dow Jones Newswires

10-23-20 1115ET

Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN EXPRESS COMPANY 3.70% 120.39 Delayed Quote.-6.75%
CAPITAL ONE FINANCIAL CORPORATION 4.67% 91.36 Delayed Quote.-18.78%
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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