HSBC's Second-Largest Shareholder Is Now From China 
 

One of China's biggest insurers has become the second-largest shareholder of HSBC Holdings, but it won't influence how the U.K.-based bank is run, HSBC's departing Chief Executive Stuart Gulliver said.

 
Roche's Immunotherapy Drug Extended Patients' Lives 
 

Roche Holding said its immunotherapy drug Tecentriq slowed the progression of lung cancer and helped patients live longer in a late-stage study, bolstering the Swiss drugmaker's defense against a wave of cut-price competition to its top-selling medicines.

 
Engine Trouble Grounds Some Air New Zealand Flights 
 

Air New Zealand experienced two separate issues with engines on Boeing 787-9 aircraft this week that forced the planes to turn back to Auckland.

 
Ford to Move Electric Car Production to Mexico 
 

Ford plans to produce a future electric car in Mexico rather than make it in the U.S., reversing plans announced in January to make its Flat Rock, Mich., assembly plant near Detroit its main electric-vehicle production site.

 
Ernst & Young Promotes Kelly Grier to Run Its U.S. Business 
 

Ernst & Young LLP named Kelly Grier as its new chairman and managing partner Wednesday, making her the first woman to lead the giant accounting and professional-services firm in the U.S.

 
Citigroup Faces $20 Billion Hit From Tax Overhaul 
 

Citigroup finance chief John Gerspach said the bank is likely to take a hit of about $20 billion to profits under the tax plans recently passed by Congress.

 
VW Manager Sentenced to 7 Years in Emissions Fraud 
 

A Volkswagen manager was sentenced to seven years imprisonment and will pay a $400,000 fine for participating in the German auto giant's emissions fraud.

 
Iger Likely to Stay On as Disney CEO Past 2019 if Fox Deal Is Reached 
 

Walt Disney Co.'s possible purchase of the entertainment assets of 21st Century Fox could mean more time for Robert Iger as chief executive of Disney.

 
Goldman, Barclays Bust Into Jamie Dimon's Game 
 

Goldman Sachs Group and Barclays will lend $20 billion to back CVS Health's takeover of Aetna, putting them into an exclusive club of big banks able to write checks of that size.

 
Smartphone Parts Boost Broadcom's Earnings 
 

Broadcom Ltd. reported higher-than-expected earnings in the most recent quarter as the chip maker looks to convince Qualcomm Inc.'s shareholders to back its $105 billion takeover bid.

(END) Dow Jones Newswires

December 07, 2017 05:15 ET (10:15 GMT)