News Highlights: Top Company News of the Day
Verizon Revenue Drops as Pandemic Slows Phone Shopping
The largest U.S. cellphone carrier continued to add customers
during the pandemic, though quarterly revenue declined in its core
wireless business and its online advertising unit.
Schlumberger Cuts 21,000 Jobs Amid Historic Oil Downturn
Schlumberger, the world's largest oil-field services company, is
cutting about 21,000 jobs as oil producers make steep spending
reductions in response to a historic drop in prices amid the
Malaysia and Goldman Sachs Reach $3.9 Billion Settlement Over 1MDB Dispute
Goldman Sachs has reached a $3.9 billion settlement with
Malaysia over a long-running dispute related to deals it ran for a
state investment fund.
China Pushes Energy Reform With Pipeline Deals
China is moving to wean its economy off coal and boost use of
cleaner natural gas, with two of the country's energy giants set to
pump nearly $56 billion of assets into a new national pipeline
Honeywell's Safety-Equipment Sales Rise, but Aerospace Demand Falls
Rising demand for personal protective equipment amid the
Covid-19 pandemic weren't enough to offset declines in Honeywell's
American Express Reports Over $1 Billion in Provisions for Credit Losses
American Express reported a large drop in profit from a year
earlier as it logged provisions of $1.6 billion to cover potential
losses. The company said the Covid-19 pandemic significantly
affected results in the quarter.
Airbus Looks to End Trade Dispute With U.S. by Forgoing Some Government Support
Airbus has agreed with the Spanish and French governments to
change some financial-support agreements in an attempt to bring an
end to a yearslong trade dispute with the U.S.
A&E Has Lost Half Its Viewers Since Dropping 'Live PD'
Ratings for A&E Network have plummeted since it canceled the
hit police reality show "Live PD" on June 10, a sign of how much
the network relies on law-enforcement programming.
China Oil Majors Agree to Sell Assets in Deals Worth $55 Billion Amid Energy Sector
Two of China's energy giants have agreed to sell some of their
assets in cash and share deals worth around $55 billion to a newly
created state juggernaut that China hopes will reform and unify its
national energy-transmission network.
UK Telecom Operators Seek Cost Relief From British Govt for Ban on Huawei
U.K. telecommunication operators are engaged with the British
government as they seek to recover part of the extra costs
resulting from the government's ban on 5G equipment made by China's
Huawei, Vodafone's Chief Executive Nick Read said.
(END) Dow Jones Newswires
July 24, 2020 09:15 ET (13:15 GMT)
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