News Highlights: Top Company News of the Day

Macquarie Group's Profit Falls 
 

Macquarie Group's first-half net profit fell by 32% as Australia's biggest investment bank and asset manager absorbed higher credit and other impairment charges tied to the impact of the coronavirus pandemic.

 
Peloton, Pizza and Videogames Grow in Stay-at-Home World 
 

Consumers holed up during the pandemic redirected their travel and entertainment dollars toward pizza, videogames, home-exercise equipment and luxury goods, according to several corporate updates Thursday.

 
T-Mobile Picks Up Pace of Its Cost-Cutting Program 
 

The wireless carrier ended the Sept. 30 quarter with 689,000 more postpaid phone subscribers, adding to its share of a valuable market for customers billed for monthly service after it is provided.

 
AIG's Net Income Fell in Third Quarter 
 

The insurance conglomerate posted a decline in third-quarter net income tied partly to a divested business, but its operating profit increased despite higher storm costs as well as losses related to the pandemic.

 
Uber Posts Third-Quarter Loss as Pandemic Continues to Hurt Rides 
 

Food delivery continues to be a bright spot for the ride-hailing operator, but it hasn't offset an overall revenue decline.

 
Saudi Arabia's Sovereign Wealth Fund  to Buy Stake in Reliance Retail 
 

Saudi Arabia's sovereign-wealth fund Public Investment Fund has agreed to invest about $1.3 billion in the retail venture of Indian conglomerate Reliance Industries Ltd.

 
Apollo Chosen to Lead $4 Billion Loan for Hertz Fleet Revival 
 

Apollo Global Management Inc. is leading a $4 billion wager on Americans' rising propensity to travel by car, agreeing to finance a planned refurbishing of Hertz Global Holdings Inc.'s aging vehicle fleet as the U.S. rental-car business rebounds.

 
Facebook Pulls 'Stop the Steal' Group Organizing Protests of Vote Counting 
 

The tech giant decided to take down a fast-growing pro-Trump group that was attracting 25,000 people an hour, saying it sought to delegitimize the election process and in some instances called for violence.

 
Qualcomm Is Finally Cleaning Up 
 

The new 5G iPhones are a clear boon for Qualcomm. And luckily for the chip maker, it now has more to its story.

 
U.K.'s SFO Investigating Plane Maker Bombardier Over Possible Bribery 
 

The Serious Fraud Office is investigating the plane maker over what the agency described as suspected bribery and corruption related to deals with Indonesia's flag carrier.

(END) Dow Jones Newswires

11-05-20 1915ET