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DJ News Highlights: Top Company News of the Day

· 02/05/2021 05:00
Ford's Results Hindered by Lower Truck OutputPeloton Taps Brakes to Fix Delivery WoesPunch Bowl Secures Ch. 11 Loan After Rival Investor Backs DownNews Corp Posts Most Profitable Quarter Since 2013Credit Suisse Was Alerted to Banker's Misconduct Years Before ChargesTikTok Rival's Stock More Than Doubles in Hong Kong DebutAlibaba Sells $5 Billion of BondsKia Approaches Partners to Build Apple Car in GeorgiaJ&J Seeks FDA Authorization for One-Shot VaccineBNP Paribas Posts Smaller-Than-Expected Drop in Profit

France largest bank BNP Paribas reported a drop in quarterly profit, hurt by record low interest rates and the fallout of the pandemic, but said it expected revenue to bounce back this year as the global economy gradually recovers.

The move sets the stage for a potential third vaccine to become available in the U.S. within weeks.

The South Korean auto maker's proposal would involve a multibillion-dollar investment, according to people familiar with the matter. If successful, it would thrust the iPhone maker into the car business after several years of secretive work.

Alibaba Group sold $5 billion of bonds, showing investors remain eager to back the Chinese e-commerce giant despite its recent run-ins with authorities.

Shares in Kuaishou nearly tripled from their IPO price in early trading, implying a market value of more than $160 billion, versus nearly $61 billion when the share sale was priced.

The Swiss bank overlooked red flags for years while a rogue private banker stole from billionaire clients, according to a report by a law firm for Switzerland's financial regulator.

The New York-based media company said net quarterly profit nearly tripled.

Bankrupt "eatertainment" chain Punch Bowl Social Inc. won approval for up to $11.2 million in financing from CrowdOut Capital LLC after a competing lender dropped an objection that a bankruptcy judge called "salacious."

Sales and subscriptions more than doubled in the latest quarter despite long shipping delays that the company has promised to address as would-be customers vent their anger online.

The Detroit auto maker said through 2025 it will spend $22 billion on electric vehicles and another $7 billion to develop autonomous vehicles.

(END) Dow Jones Newswires

February 05, 2021 05:00 ET (10:00 GMT)

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