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News Highlights: Top Company News of the Day

11/24/2020 | 03:16pm EST
Purdue Pharma Pleads Guilty to Felonies Over OxyContin Sales 

The guilty plea follows the approval last week by a U.S. bankruptcy court judge of an $8.34 billion settlement between Purdue Pharma and the Justice Department.

GE Plans More Job Cuts in Aviation Division 

General Electric warned employees that more job cuts are coming to the conglomerate's jet-engine business because of the pandemic's impact on commercial air travel even with the promise of a vaccine on the horizon.

French Hotel Giant Targets U.S. With New Lifestyle Operator 

European hotel company Accor is set to merge its boutique properties with a U.K. company to create what it says will be the world's largest operator of lifestyle hotels, betting on the segment as it seeks growth in North America.

Credit Suisse Takes $450 Million Hit on Stake in U.S. Hedge-Fund Firm 

Credit Suisse is taking a near half-billion-dollar charge on a stake in a hedge-fund business it bought during Wall Street's frenzy for alternative investments a decade ago.

Best Buy Continues Virus-Driven Gains but Warns They Will Taper Off 

The retailer's sales rose 21% in the third quarter from a year earlier, as it continued benefiting from online sales and items that support homebound customers during the pandemic.

Europe's Biggest Utility Company to Ramp Up Spending on Wind, Solar Power 

Enel plans to spend around $83 billion expanding its presence in wind and solar power in the coming decade, seeking to cement its position as the world's largest renewable energy producer outside China and capitalize on the shift to green energy.

Dick's Sporting Goods CEO Ed Stack to Step Down 

The retail executive built the company into a national chain during his decades at the helm and led it into a contentious national debate over gun violence. He will remain chairman and chief merchant.

AstraZeneca Gears Up to Vaccinate the World 

Among the front-runners racing to deliver a Covid-19 shot, AstraZeneca has the least vaccine experience. But it has promised the world the most doses-more than three billion.

McCormick Buys Hot-Sauce Maker Cholula 

The seasonings company pays $800 million to private equity firm L Catterton as it tries to capitalize on record demand for spicy condiments.

Xiaomi's Gain at Huawei's Expense Might Not Last 

The global smartphone market has recovered from the earlier dip caused by the pandemic, but Huawei's travails are the key factor behind Xiaomi's bumper performance in the latest quarter.

(END) Dow Jones Newswires

11-24-20 1515ET

Stocks mentioned in the article
ChangeLast1st jan.
ACCOR -4.77% 29.57 Real-time Quote.4.90%
ASTRAZENECA PLC 1.66% 7777 Delayed Quote.4.45%
BEST BUY CO., INC -0.25% 114.07 Delayed Quote.14.74%
CREDIT SUISSE GROUP AG -0.45% 12.18 Delayed Quote.7.32%
DICK'S SPORTING GOODS, INC. -1.71% 66.565 Delayed Quote.20.58%
ENEL S.P.A. -1.35% 8.345 Delayed Quote.2.21%
GENERAL ELECTRIC COMPANY 0.32% 11.0934 Delayed Quote.2.50%
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