News Highlights: Top Company News of the Day
13 October 2017 - 2:30PM
Dow Jones News
Samsung Expects Another Quarter of Record Profits
Samsung Electronics, continuing to see roaring demand for its
components, is forecasting third-quarter profits will be the
company's highest ever.
HP Forecasts a Good 2018 for Profit
HP Inc. expects 2018 to be another good year, with profit
projections beating Wall Street expectations, and it's pledging to
continue to return most of its cash to shareholders.
Amazon Suspends Entertainment Chief Roy Price
Amazon.com suspended the head of its entertainment studio, Roy
Price, in the wake of allegations of mismanagement and sexual
harassment and criticism of his close business relationship with
Harvey Weinstein.
Chevron Loses Taste for Oil in Great Australian Bight
The U.S. company has abandoned plans for deep-water exploration
wells in the 1,000-mile stretch of ocean off southern Australia,
citing low oil prices.
MGM Officially Disputes Part of Police Timeline in Vegas Shooting
The owner of the Mandalay Bay Resort and Casino claims the
wounding of a security guard by Stephen Paddock occurred moments
before shootings began, a much shorter time frame than the six
minutes attributed by law enforcement.
Hostess Latest Food Maker to Plan Leadership Change
Hostess Brands Inc. joined the ranks of food companies changing
leaders as Bill Toler said he plans to retire in March, just over a
year after taking the Twinkie-maker public again.
Westinghouse Seeks to Tap Bankruptcy Loan to Shore Up Global Nuclear Business
Parts of Westinghouse Electric's global nuclear business are in
urgent need of financial aid and the company is asking to tap its
bankruptcy financing to shore them up.
Judge Issues Temporary Restraining Order in Energy Future-Vistra Tax Fight
A bankruptcy judge issued a temporary restraining order barring
Vistra Energy from filing a tax return that runs afoul of an
agreement reached as it exited from bankruptcy last year.
Star Fidelity Manager Fired Over Sexual Harassment Allegations
Gavin Baker, a star stock picker at Fidelity Investments, was
fired last month after being accused of sexually harassing a junior
female employee. Mr. Baker "strenuously" denies the allegations,
according to his spokesman.
Cost Cuts, Credit-Card Lending Buoy Bank Earnings
Growth in credit-card lending and a tight rein on costs boosted
third-quarter profits at J.P. Morgan Chase and Citigroup offsetting
downbeat trading results and a still-challenging interest-rate
environment.
(END) Dow Jones Newswires
October 12, 2017 23:15 ET (03:15 GMT)
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