News Highlights: Top Company News of the Day
China's Luckin Coffee Is Fined for Inflating Results
China's top commerce regulator fined Luckin Coffee Inc. and
dozens of companies that helped the coffee chain inflate its sales
and expenses, wrapping up a monthslong investigation into the
LVMH Is Readying Its Red Pen for Tiffany's Books
Tiffany can't put a foot wrong between now and the January trial
that will decide the fate of the luxury industry's biggest ever
TikTok's Zero Hour: Haggling With Trump, Doubts in China and a Deal in Limbo
After months of maneuvering over the future of TikTok, it took
last-minute phone calls to persuade President Trump to sign off in
principle on the outlines of an agreement to keep the app operating
in the U.S. Even that outcome-an M&A deal like no other-remains
Blackstone Ready to Lend After Raising Record Property Debt Fund
The investment firm closed this month on the largest real-estate
debt fund ever, giving it plenty of cash to lend to property
investors looking to go shopping during the pandemic.
Clarion Capital Banks More Than Sevenfold Gain on AML RightSource Sale
Clarion Capital Partners sold portfolio company AML RightSource,
a provider of consulting services to fight financial crime, to
Gridiron Capital for $426.5 million.
Government Contracts Help Vertex Aerospace Navigate Economic Storm
American Industrial Partners' bet on Vertex Aerospace has
weathered the turbulence that has hit the aerospace industry,
thanks in part to the support of its biggest customer, the U.S.
Chinese Leaders Split Over Releasing Blacklist of U.S. Companies
Beijing has sped up development of a list that could be used to
punish American technology firms, but some Chinese officials are
mindful of moving too aggressively and say a decision should wait
until after the U.S. election.
Activist Trian Fund Management Takes Stake in Comcast
Trian Fund Management has taken a stake in Comcast in a bet that
the cable giant's shares are undervalued. Comcast is one of the
biggest companies ever targeted by an activist.
Senate Democrats Oppose Bonus for Purdue Pharma CEO
Democratic senators are challenging the OxyContin maker's
request to pay its chief executive a bonus that could total
millions of dollars while the company is in bankruptcy, saying such
an award would be offensive to the families harmed by the opioid
Volkswagen in Talks to Sell Bugatti Brand to Croatian Upstart
VW, whose brands range from Audi to Porsche and Skoda to
Lamborghini, is discussing the possible divestment with Croatia's
(END) Dow Jones Newswires
September 22, 2020 11:00 ET (15:00 GMT)
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