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News Highlights: Top Company News of the Day

11/02/2020 | 09:17pm EST
Twitter's Jack Dorsey Survives Scrutiny From Activist Investor 

Jack Dorsey's job as CEO of Twitter appears safe. Twitter said in a securities filing on Monday that a board committee formed this spring recommended that the current management structure remain in place.

Mondelez's Sales in Emerging Markets Bounce Back 

The snacks-and-candy maker reported a nearly 5% rise in global sales, aided by a rebound in some emerging markets after coronavirus lockdowns had crimped sales earlier in the year.

Walmart Scraps Plan to Have Robots Scan Shelves 

The retail giant is ending its push to have machines developed by Bossa Nova Robotics rove stores to keep track of inventory, after discovering during the coronavirus pandemic that humans can help get similar results.

Chinese Regulators Summon Ant Leaders Ahead of Record IPO 

China's central bank and other financial regulators met with Jack Ma and the top executives of Ant Group as the fintech giant prepares for a record-breaking IPO this week.

Citigroup Names New Consumer Banking Head 

The bank's incoming CEO, Jane Fraser, is tapping one of her top lieutenants, Anand Selva, to replace her as head of the consumer bank. Citigroup's longtime chief risk officer will step down at the end of the year.

J.C. Penney Settles With Holdout Lenders, Easing Chapter 11 Sale 

The retailer cleared the way to sell itself out of bankruptcy to lenders and landlords, settling with a group of holdout creditors led by Aurelius Capital Management that wanted a bigger slice of the pie from the restructuring.

Friendly's Restaurant Owner Files for Bankruptcy Amid Pandemic 

The operator of the restaurant chain, buckling under pressure from the coronavirus pandemic, said it has filed for chapter 11 bankruptcy with a deal in hand to be acquired and to keep most of its locations open.

Clorox Books Record Sales Jump 

The household-supplies producer saw sales rise 27%, the fastest growth in at least two decades, driven by Americans' continuing scramble for coronavirus-killing cleaning products.

Private-Equity Deals Head for Busy Year-End 

A combination of an overstuffed pipeline of deals put on hold because of the Covid-19 pandemic, low interest rates for borrowing and concerns about potential tax increases if Democrats prevail in the coming election stand to drive more deal activity for buyout firms.

Software Firm Coupa to Buy Supply-Chain Tech Provider Llamasoft 

Coupa Software is buying supply-chain planning company Llamasoft for roughly $1.5 billion, as the pandemic brings greater attention to technology that helps businesses make operations from raw materials sourcing to distribution more resilient.

(END) Dow Jones Newswires

11-02-20 2115ET

Stocks mentioned in the article
ChangeLast1st jan.
CITIGROUP INC. 1.77% 60.59 Delayed Quote.-3.67%
SQUARE, INC. 6.14% 216.375 Delayed Quote.-6.97%
THE CLOROX COMPANY -0.42% 221.1 Delayed Quote.10.03%
WALMART INC. 1.32% 145.465 Delayed Quote.-0.22%
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