News Highlights: Top Company News of the Day
August 17 2021 - 11:15PM
Dow Jones News
Alibaba's U.S. Listing Falls to Lowest Since 2019
The shares of several tech companies declined after authorities
in Beijing released a new round of proposed regulations.
BHP's New Look Is Only a Shade Greener
The world's largest miner is leaving petroleum behind, but
serving the carbon-intensive steel industry remains its key
business.
Ex-Purdue Pharma Director David Sackler Defends Family's Bankruptcy Settlement
Mr. Sackler testified during the second week of a New York
bankruptcy trial on a proposed multibillion-dollar settlement,
saying he's saddened that OxyContin has been misused and that his
family's settlement offers the funding needed for opioid
abatement.
PG&E Blacks Out Some Customers to Reduce California Wildfire Risks
The pre-emptive power shut-offs, the company's first this
wildfire season, are a response to high winds that are poised to
hit the state.
Sanchez Energy Bondholders Say Fidelity Tripled Its Money on Postbankruptcy Loan
A bondholder lawsuit filed Friday targets financing deals that
Fidelity and Apollo Global Management Inc. reached with Sanchez
after it exited chapter 11 last year, saying the lenders have
seized too much control over the reorganized business and have
enjoyed "massive" returns at the expense of unsecured
creditors.
Fracking Contractor Basic Energy to Be Broken Up in Bankruptcy
Fracking contractor Basic Energy Services Inc. filed for
bankruptcy Tuesday for the second time in five years, planning to
sell itself in parts and setting up a $47.5 million conflict with
its controlling shareholder, Ascribe Capital.
Top TriMark Lenders Must Face Challenge to Rescue Loan
A New York judge declined to clear Oaktree Capital Management
and Ares Management Corp. of allegations a $427.5 million rescue
financing package for restaurant supplier TriMark USA trampled the
rights of other lenders.
Ford Wants More Buyers to Order Online and Wait, Rather Than Pick Off the Lot
The auto maker plans to permanently reduce the number of
vehicles carried on dealership lots, hoping to do more sales from
buyers who custom order.
PepsiCo Aims to Replenish More Water Than It Uses
PepsiCo laid out a new plan to save water as companies grapple
with water scarcity driven by rising demand and climate change.
Ziff Davis Is Returning to Public Markets With a Mandate to Make Deals
When j2 Global splits in two, the new parent company will be
named after the century-old magazine publisher and will have $1
billion for buying up other companies.
(END) Dow Jones Newswires
August 17, 2021 23:15 ET (03:15 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.