News Highlights: Top Company News of the Day
11 September 2019 - 07:30PM
Dow Jones News
Hong Kong Exchange Launches Bid For LSE
Hong Kong Exchanges & Clearing has approached the London
Stock Exchange with a GBP29.6 billion cash and share offer and
plans to seek a recommendation from its board.
Charles Schwab Plans Layoffs as Falling Interest Rates Hurt Profit
Charles Schwab is cutting about 600 jobs, as it deals with the
impact of lower interest rates.
Apple Undercuts Rivals With Streaming Price
Apple revealed a trio of upgraded iPhones, including a
lower-priced model, and detailed its plans to enter the
increasingly competitive video-streaming market with an offering
that is cheaper than rivals.
GE to Give Up Majority Control of Baker Hughes
General Electric is giving up majority control of Baker Hughes,
selling shares in the oil-field services firm that will raise about
$3 billion cash but trigger a more-than-$7-billion accounting
charge.
GameStop Grapples With Falling Sales as Competition Looms
The videogame retailer's sales fell 14% as consumers
increasingly download games instead of buying packaged
software.
China's Anbang to Sell Hotels for More Than $5.8 Billion
China's Anbang agreed to sell luxury hotels for more than $5.8
billion even as a California individual had secretly created a
series of fake deeds to transfer ownership for up to a half-dozen
of the properties.
Reliance Nippon Life Asset to Launch $190 Million Fund This Month
India's Reliance Nippon Life Asset Management plans to launch a
$190 million fund of venture capital funds around the end of
September, said an executive of the firm's new majority owner,
Nippon Life Insurance Co.
JPMorgan CEO Dimon Raises Specter of Zero Rates
The biggest bank in the U.S. is starting to prepare for how to
make money if interest rates in the U.S. drop to zero.
Executives Say $1 Billion for AI Research Isn't Enough
The announcement of a nearly $1 billion federal commitment
toward artificial-intelligence research drew a mixed response from
business leaders who said the U.S. needs to do more to maintain a
competitive edge in AI.
Mallinckrodt Shares Rise After It Agrees to Sell BioVectra
Mallinckrodt agreed to sell its contract drug-manufacturing
subsidiary to private-equity firm H.I.G. Capital in a deal worth up
to $250 million, sending its stock price up 85%.
(END) Dow Jones Newswires
September 11, 2019 05:15 ET (09:15 GMT)
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