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News Highlights: Top Company News of the Day

11/11/2020 | 03:16pm EST
TikTok Presses for Delay in Sale Deadline 

A petition filed by ByteDance says the U.S. government's decision to force a TikTok deal was "arbitrary and capricious" and denied the company due process under the law.

Facebook, Google Extend Bans on Political Ads 

Facebook and Google plan to continue banning political ads on their platforms for the next several weeks to prevent confusion about election results.

Alibaba Sets 'Singles Day' Sales Record 

Chinese technology company, under a cloud of regulatory pressure, raked in $75.1 billion in sales during China's biggest annual online sales bonanza.

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 

New legislation would bolster the British government's powers to block foreign takeovers, the latest 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.

(END) Dow Jones Newswires

11-11-20 1515ET

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 0.20% 243.46 Delayed Quote.4.61%
ALPHABET INC. -0.19% 1727.62 Delayed Quote.-1.43%
EASTMAN CHEMICAL COMPANY -1.60% 104.78 Delayed Quote.4.49%
EASTMAN KODAK COMPANY -2.28% 8.14 Delayed Quote.0.00%
FACEBOOK INC 2.33% 251.36 Delayed Quote.-7.98%
GENERAL ELECTRIC COMPANY -2.83% 11.33 Delayed Quote.4.91%
REVLON, INC. -3.70% 10.42 Delayed Quote.-12.29%
SOFTBANK CORP. -0.44% 1355 End-of-day quote.4.80%
SOFTBANK GROUP CORP. -0.18% 8503 End-of-day quote.5.52%
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