News Highlights: Top Company News of the Day - Wednesday at 7 AM ET

The Two Big Insurers Still Betting on Fossil Fuels 
 

Most companies have cut back on oil, gas and coal investments after big climate-related losses. But State Farm and Berkshire Hathaway's insurance companies increased theirs.

 
Rightmove Rejects Third REA Bid 
 

Rightmove rejected the latest bid from News Corp.-controlled REA Group valued at $8.1 billion, saying the offer still materially undervalues the company and its future prospects.

 
Beijing Threatens to Block Calvin Klein Owner's Access to China 
 

The possible inclusion of PVH on an "unreliable entities list" comes as the U.S. challenges Chinese firms.

 
Commerzbank CEO to Step Down; Finance Chief Bettina Orlopp Named Successor 
 

The changes come as the German bank continues a battle with UniCredit over its future.

 
Rio Tinto Aims to Increase Aluminum Margin, Return on Capital 
 

The world's second-biggest mining company by market value aims to improve the margins in its aluminum business by lowering costs, increasing its footprint in recycled aluminum, and switching to lower-cost renewable power.

 
GE Vernova CEO Appraises Nuclear Power Prospects, Offshore Wind Business 
 

The nuclear power industry is set to add 'gigawatts upon gigawatts' of capacity heading into the 2030s, while offshore wind needs to sort out its business model, according to GE Vernova CEO Scott Strazik.

 
Skael Co-Founder Faces U.S. Fraud Charges 
 

Co-founder of now-defunct business-automation startup raised $30 million in funding by claiming its revenue was far higher than it actually was, the SEC alleges.

 
Meta's Developer Conference Kicks Off Today. What to Expect. 
 

CEO Mark Zuckerberg's keynote starts at 1 p.m. ET Wednesday.

 
Premier Investments Delays Smiggle Demerger as Annual Profit Drops 
 

Australian retail group Premier Investments reported a near 5% fall in annual profit and said it is delaying the demerger of its Smiggle stationery chain while it discusses a separate deal with department-store operator Myer.

 
Justice Department Sues Visa, Alleges Illegal Monopoly in Debit-Card Payments 
 

The largest card network in the U.S. blocked rivals through payments and higher fees levied on merchants, the government said.

(END) Dow Jones Newswires

September 25, 2024 07:15 ET (11:15 GMT)

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