News Highlights: Top Company News of the Day
16 December 2017 - 1:30AM
Dow Jones News
CSX Loses $6 Billion in Value After CEO Takes Medical Leave
CSX shares fell 12%, erasing nearly $6 billion in market value,
after CEO Hunter Harrison was placed on medical leave, highlighting
the risk the railroad's board took when it agreed to hire the
73-year-old railroad veteran despite the emergence of unspecified
medical problems earlier in the year.
With Fox Deal, Disney Adds Hulu to Its Digital Kingdom
Walt Disney's plan to buy a large portion of 21st Century Fox's
assets would double its 30% stake in Hulu-and for the first time a
single company would control the streaming service.
Airbus Upheaval Triggers Search for New CEO
Airbus is hunting for a new chief executive to navigate it
through a spell of heavy turbulence, with Europe's largest plane
maker facing investigations over alleged corruption and
far-reaching departures among its senior ranks.
H&M Shares Plunge as Pivot to Digital Falls Short
Shares in Hennes & Mauritz's dropped more than 15% after the
Swedish fashion retailer reported weaker-than-expected
fourth-quarter sales as it continues to grapple with the shift
toward online shopping.
Deutsche Bank Had Flagged Manafort-Related Transactions
Deutsche Bank earlier this year flagged around $30 million in
potentially suspicious transactions as part of an internal
investigation into its role as a conduit for money involving Paul
Manafort or people and entities connected to him, according to a
person briefed on the matter.
Property Data Firm Xceligent Files for Chapter 7 Protection
The board of Xceligent Inc., one of the largest commercial
real-estate data firms in the U.S., has filed for chapter 7
liquidation following a year-long legal battle with rival CoStar
Group Inc. over alleged data theft.
Harvard Agrees to Spin Out Real-Estate Team to Bain
Harvard University's endowment reached an agreement to spin out
its direct real estate investment team into a new business for
Boston private-equity firm Bain Capital.
Private-Equity Firm Silver Lake Plays Rare Role: Predator
By Wall Street custom, private-equity firms rarely "go hostile"
on a company they seek to acquire. That's what makes Silver Lake
Management's decision to back Broadcom's $105 billion hostile
takeover bid for rival chip maker Qualcomm all the more
remarkable.
Steinhoff's Interim Chief Resigns Amid Accounting Probe
Embattled retail giant Steinhoff International Holdings NV said
its executive chairman, who was supposed to pick up the pieces
after the company's chief executive resigned last week amid
accounting irregularities, has stepped down.
China's HNA Starts Bond Buyback to Ease Investor Worries
HNA said it bought back some of its bonds following recent price
declines, another attempt to calm investors' concerns about its
liquidity and financing pressures.
(END) Dow Jones Newswires
December 15, 2017 09:15 ET (14:15 GMT)
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