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News Highlights: Top Company News of the Day

11/11/2020 | 11:16am EST
Kodak Says Ex-Executives Sold Stock Options They Didn't Own 

Eastman Kodak said five former executives were able to collect millions of dollars by selling stock options they didn't own, an admission set to add to scrutiny the company faces over the circumstances surrounding a halted U.S. loan.

Revlon Nets Additional Bondholder Support for Restructuring 

The cosmetics maker additional bondholders are supporting its debt-restructuring offer but delayed a decision on whether there is enough participation to close the proposed deal and avoid bankruptcy

Apple's Biggest Chip Gamble Yet 

With its star having dimmed in Apple's firmament, the Mac might seem safe for the company to shake up. But there is still some risk to messing with a 36-year-old business.

Agricultural Giant Louis Dreyfus to Sell Major Stake to Abu Dhabi State Firm 

Billionaire heiress Margarita Louis-Dreyfus agreed to sell a 45% indirect stake in Louis Dreyfus, the agricultural merchant that has borne her family's name for almost two centuries, to a holding company in the United Arab Emirates.

GE Disbands Corporate Audit Program 

General Electric is disbanding its Corporate Audit Staff program, a rigorous multiyear rotation through various divisions that the conglomerate has long used to groom future leaders.

U.K. Proposes New Powers to Curb Foreign Takeovers of Strategic Companies 

Britain proposed new legislation to bolster its powers to block foreign takeovers, becomes the latest European country to follow the U.S. in trying to shield companies deemed important to national security.

Masayoshi Son Again Pulled Softbank From the Brink. This Time He Had Help. 

The world's largest and most unpredictable technology investor was coached out of the crisis by hedge fund Elliott Management, a major shareholder, and is sitting on a $60 billion cash pile. Now it's Elliott's turn to worry.

TikTok Asks Court to Extend U.S. Government's Divestiture Deadline 

TikTok's Chinese parent company asked a U.S. appeals court for more time to work out a potential divestiture of the popular video-sharing app, citing a lack of communication from the Trump administration as a Thursday deadline looms.

A Big Chinese Bank Is Selling Bonds That Can Be Bought With Cash or Bitcoin 

China Construction Bank is planning to raise up to $3 billion from a sale of bonds that individuals and institutions can trade in and out of using U.S. dollars or bitcoin.

Lyft's Business Picks Up From Pandemic Lows 

The pandemic continued to weigh on the ride-hailing company, though its active riders and revenue improved from the preceding quarter as lockdowns eased in some key cities.

(END) Dow Jones Newswires

11-11-20 1115ET

Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO -2.04% 29228.87 Real-time Quote.29.20%
CHINA CONSTRUCTION BANK CORPORATION 0.97% 6.26 End-of-day quote.6.28%
EASTMAN CHEMICAL COMPANY 0.09% 104.87 Delayed Quote.4.49%
EASTMAN KODAK COMPANY 8.60% 8.84 Delayed Quote.8.60%
GENERAL ELECTRIC COMPANY 0.88% 11.43 Delayed Quote.5.83%
REVLON, INC. -1.34% 10.28 Delayed Quote.-13.47%
SOFTBANK CORP. 0.63% 1363.5 End-of-day quote.5.45%
SOFTBANK GROUP CORP. 3.00% 8758 End-of-day quote.8.69%
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