News Highlights: Top Company News of the Day
20 September 2017 - 9:15PM
Dow Jones News
Maersk to Sell Tankers Business for $1.17 Billion
A.P. Moeller-Maersk said it would sell it tankers unit to its
controlling shareholder for $1.17 billion, the latest move by the
Danish conglomerate to break up its sprawling operations.
Thyssenkrupp, Tata Seal Long-Awaited European Steel Deal
Thyssenkrupp of Germany and Tata Steel of India agreed to
combine their European steel activities in a move that would create
the region's second-largest steel producer.
Zara Parent Company Inditex Sees 9% 1H Net Profit Rise on Year
Inditex SA said Wednesday that the autumn and winter sales
season got off to a more robust start than expected, although the
operator of the Zara chain reported a bigger-than-expected decline
in profitability triggered in part by currency fluctuations.
Toshiba Decides on Bain-Apple Group in Chip-Business Sale
Toshiba decided to sell its chip business to a Bain Capital-led
group-which includes Apple and Dell Technologies-for more than $18
billion, although there is still opposition to the deal.
Toys 'R' Us to Tap Bankruptcy Loan Ahead of Holiday Season
Toys "R" Us won court approval Tuesday to start using a
bankruptcy loan from lenders led by J.P. Morgan Chase & Co.,
something the company's attorneys argued was vital to the troubled
toy retailer's survival.
Heavy Debt Crushed Owners of Toys 'R' Us
Competition may have brought down Toys "R" Us. But the debt that
three Wall Street firms took on to acquire the company-and the way
the ownership group was constructed-left them without a fighting
chance.
Microsoft Raises Dividend, Names Hugh Johnston to Board
Corp. raised its dividend by 7.6% and named 30-year PepsiCo Inc.
veteran Hugh Johnston to its board.
FedEx Takes Earnings Hit Following Cyberattack
FedEx said a cyberattack earlier this year dented earnings in
its first quarter by roughly a third, prompting the package
delivery giant to cut its profit forecast for the rest of the
fiscal year.
BHP Billiton Top Executives Get No Pay Rise Despite Profit
A recovery in the fortunes of global miners has encouraged
increased payouts to shareholders, but BHP Billiton Ltd. is
following other mining companies in stating that salaries of its
top bosses wouldn't rise this fiscal.
Call It 'Fintech' and Watch the Valuation Soar
China's ZhongAn insurance company wants to be seen as tech play,
rather than a boring old insurer.
(END) Dow Jones Newswires
September 20, 2017 07:00 ET (11:00 GMT)
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