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News Highlights: Top Company News of the Day

11/05/2020 | 11:16pm EST
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.

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.

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.

Foursquare CEO David Shim Steps Down 

Gary Little, a member of Foursquare Labs' board, will become chief executive after David Shim's Jan. 1 departure.

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.

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.

Facebook Imposes Limits on Election Content, Bans 'Stop the Steal' 

The social-media company has announced new measures to restrict the spread of false and possibly dangerous material.

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.

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.

(END) Dow Jones Newswires

11-05-20 2315ET

Stocks mentioned in the article
ChangeLast1st jan.
APOLLO GLOBAL MANAGEMENT, INC. -0.54% 47.95 Delayed Quote.-2.10%
FACEBOOK INC 2.33% 251.36 Delayed Quote.-7.98%
HERTZ GLOBAL HOLDINGS, INC. 0.00%End-of-day quote.0.00%
QUALCOMM INCORPORATED -2.34% 157.09 Delayed Quote.5.59%
RELIANCE INDUSTRIES LTD -1.18% 1937.45 Delayed Quote.-2.41%
T-MOBILE US 2.08% 127.28 Delayed Quote.-5.61%
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