News Highlights: Top Company News of the Day
July 24 2020 - 11:30AM
Dow Jones News
Verizon Revenue Drops as Pandemic Slows Phone Shopping
The largest U.S. cellphone carrier continued to add customers
during the coronavirus 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
coronavirus pandemic.
Goldman Settles 1MDB Dispute With Malaysia for $3.9 Billion
The Wall Street bank reached a $3.9 billion settlement with
Malaysia in connection with a multibillion-dollar scandal that has
plagued the firm and rocked the country's politics.
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
firm.
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
aerospace segment.
American Express Reports $1.6 Billion in Provisions for Credit Losses
The credit-card company reported a large drop in second-quarter
profit as it logged provisions of $1.6 billion to cover potential
credit losses. The company said the Covid-19 pandemic significantly
affected quarterly results.
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
Reforms
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 11:15 ET (15:15 GMT)
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