News Highlights: Top Company News of the Day
February 22 2021 - 6:30PM
Dow Jones News
WeWork Co-Founder Adam Neumann Nears Settlement With SoftBank
According to terms being discussed, SoftBank would spend roughly
$1.5 billion to buy the shares of early WeWork investors and
employees. Former CEO Adam Neumann would get $500 million.
Petrobras Shares Drop in Wake of Bolsonaro's Plan to Name New CEO
The Brazilian president's move to install new leadership at the
state-owned oil giant sparked a crisis of confidence in his
administration's commitment to free-market policies.
Steak 'N Shake Avoids Bankruptcy, Then Sues Top Lender Fortress
Steak 'n Shake sued lender Fortress Investment Group after the
burger chain paid off debt coming due to avoid bankruptcy, accusing
Fortress of misusing confidential information to mount a takeover
bid.
Vegan Restaurant Chain By Chloe Taps Bankruptcy Lenders to Take Control
The owner of vegan restaurant chain By Chloe has named its
lenders as the lead bidders to acquire its assets out of
bankruptcy, with hopes to get the proposed sale approved by next
week.
Spotify to Expand Its Global Footprint, Adding 85 Markets
The streaming company will be available in 36 additional
languages as the new markets represent access to more than one
billion people.
GameStop Shares Jump
The market action comes after Reddit user Keith Gill disclosed
late Friday that he bought more of the retailer's stock.
Goodyear to Buy Rival Cooper Tire for $2.8 Billion
The cash-and-stock deal would create a company with more than 50
factories.
Boeing Backs Grounding Some 777 Jets
Airlines were told to stop flying Boeing's wide-body 777
equipped with a type of engine that broke apart during a recent
flight, as the FAA said it would order inspections of those jets.
United is the only airline in the U.S. that uses that engine
type.
M&T Bank to Buy People's United for $7.6 billion
M&T Bank agreed to buy People's United Financial for $7.6
billion in an all-stock deal, the latest in a string of
regional-bank tie-ups.
Texas Blackout Boosts Australian Bank by Up to $215 Million
The deep freeze that plunged millions of Texans into darkness
last week produced a windfall of up to $215 million for Macquarie,
an Australian investment bank that is active in U.S. power and gas
markets.
(END) Dow Jones Newswires
February 22, 2021 19:15 ET (00:15 GMT)
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