News Highlights: Top Company News of the Day
August 02 2021 - 3:22AM
Dow Jones News
HSBC's Profit Rises as Pandemic Provisions Recede
The global lender earned $3.4 billion in the quarter ended June,
much higher than the $192 million it reported for the same period
last year, after it reduced provisions for bad loans caused by the
economic fallout from the coronavirus pandemic.
Square Agrees to Acquire Afterpay for $29 Billion
The Australian installment-payment company, which positions its
service as a cheaper and more responsible alternative to a credit
card, will be integrated into Square's Seller and Cash App business
units.
Succession Drama Grips Scholastic: CEO's Sudden Death, an Office Romance and a Surprise Will
Richard Robinson stunned his family by bequeathing his
controlling stake in the "Harry Potter" publisher to senior
executive Iole Lucchese.
AXA Net Profit Rises on Better Property and Casualty Claims
AXA said that net profit and revenue increased in the first half
thanks to growth in all business lines, particularly improved
property and casualty claims and a strong underwriting result at
AXA XL, the company's property and casualty and specialty risk
division.
Heineken Swings to Profit; Backs 2021 View
Heineken reported a swing to net profit for the first half and
backed its full-year expectations, but said the rise in commodity
costs are expected to start affecting the business in the second
half of the year.
Chile Workers at World's Biggest Copper Mine Vote to Strike
The move potentially risks supply disruptions of a key metal as
the world's economy continues to recover from the impact of the
coronavirus pandemic.
Samsung Takes Intel's Chip-Seller Crown, but Bigger Battle Looms
Intel, knocked off its perch as the biggest-revenue chip maker
by Samsung, is looking to take on its South Korean rival in one of
the business world's costliest endeavors: contract manufacturing of
the most-advanced chips.
Oil Search Intends to Recommend New Santos Takeover Proposal
Oil Search Ltd. said it intends to recommend a new takeover
proposal from Santos Ltd. to create an energy company with a market
value of more than $16 billion.
Keppel Makes $1.6 Billion Offer for Singapore Press Holdings
Keppel Corp. has offered to acquire Singapore Press Holdings
Ltd. for $1.62 billion, a move by the conglomerate to build its
property portfolio.
'Jungle Cruise' Debut Is Latest Example of Covid-19, Co-Release Challenges
After several weeks of encouraging premieres, Hollywood's return
to the box office has struggled with middling performances topping
the charts.
(END) Dow Jones Newswires
August 02, 2021 03:15 ET (07:15 GMT)
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