News Highlights: Top Company News of the Day
21 October 2017 - 6:30AM
Dow Jones News
New GE Chief Slashes Forecasts, Plans to Exit $20 Billion in Businesses
GE's quarterly earnings fell as it incurred hefty restructuring
charges during CEO John Flannery's first official quarter at the
helm, and the new CEO pledged to exit more than $20 billion of the
company's businesses.
Wells Fargo Fires 4, as Woes Spread to Investment Banking
Wells Fargo has fired four foreign-exchange bankers amid an
investigation into that business by both the bank and
regulators.
Procter & Gamble Puzzled by Weak Consumer Spending
Procter & Gamble recorded sluggish growth during the first
quarter as it battles a challenging market for consumer-goods
makers.
EU Antitrust Authorities Raid BMW's Headquarters
European Union authorities have raided BMW's offices over
concerns that several German car makers violated the bloc's cartel
rules through agreements that might have suppressed technology
costs.
Wisconsin's Foxconn Deal Highlights How States Dangle Cash as a Lure
Wisconsin's $3 billion bid this summer to land Foxconn
Technology Group's first major U.S. factory looked smaller than
that of a neighboring state's, but included an increasingly popular
feature that likely made the difference: cash.
Third Point Takes Stake in Dover, Calls for Split
Activist investor Daniel Loeb's Third Point has taken a stake in
industrial conglomerate Dover, calling on the company to separate
its energy business and improve results.
Activist Investor to Push Nestlé For Further Changes
Activist investor Daniel Loeb praised Nestlé's recent moves to
raise shareholder value but indicated he will continue to push the
packaged foods giant to make further changes.
Japan's SoftBank Plans Second Giant Tech Fund
SoftBank Group Corp., which runs what is already the world's
biggest technology investment fund, is planning to create a second
fund that could be even larger, according to people close to the
Japanese telecommunications and investment giant.
AmEx Chief's Mission: Get Millennials, Keep the Rich
Incoming American Express CEO Stephen Squeri is looking to
regain the cachet of the AmEx brand, both for millennials who don't
view it the same way as their parents and for established customers
who have been wooed by banks offering better services and more
perks.
First Data to Buy BluePay for $760 Million
First Data said it has reached a deal to buy payments-processing
firm BluePay Holdings.
(END) Dow Jones Newswires
October 20, 2017 15:15 ET (19:15 GMT)
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