News Highlights: Top Company News of the Day
20 November 2018 - 1:30PM
Dow Jones News
Arrest of Renault CEO Shakes France
The arrest of Carlos Ghosn by Japanese authorities shook up
Renault and its biggest shareholder, the French state, as it threw
into question the auto maker's position in its alliance with Nissan
and Mitsubishi.
Ghosn Arrested as Nissan Plans Ouster for False Pay Filings
Nissan Chairman Carlos Ghosn was arrested in Tokyo, and Nissan
said it intended to oust him after uncovering 'significant acts' of
financial misconduct, including underreporting his income in
securities filings.
Société Générale Touts Compliance Improvements When Striking Settlements
French bank Société Générale pointed to its cooperation with
authorities and enhancements to its corporate compliance programs
as reasons the bank received settlements over allegations it
violated sanctions law.
Management Still Stumped by Victoria's Secret
L Brands reported declining sales and a new boss for lingerie
brand Victoria's Secret and needs to figure out what now appeals to
women.
Cimarex Energy to Buy Resolute Energy
Cimarex Energy has agreed to buy Resolute Energy for $35 a
share, or about $811 million in cash and stock, in a union of
Denver oil and gas companies.
Taylor Swift Tries to Help Fellow Artists With Universal Music Deal
The biggest free agent in music signed a long-term deal with the
world's biggest record company, in the process using her clout to
try to score some points for other artists signed to the same
label.
L Brands Slashes Dividend, Picks Chief for Victoria's Secret Lingerie
L Brands said it had hired a Tory Burch executive to take over
its Victoria's Secret lingerie business after the chain posted
another quarter of declining same-store sales.
Mercuria Is Favorite to Buy Bankrupt Aegean Marine
Swiss commodities trader Mercuria Energy is moving to buy
bankrupt Aegean Marine Petroleum, believing tough new fuel
emissions rules will lead to the bigger financial returns needed to
turn around the distressed business.
Former College Basketball Player Sues Adidas Over Payments
Fallout from a federal probe of alleged corruption in college
basketball entered a new chapter as a former University of
Louisville player sued Adidas, alleging the sports-clothing maker
violated racketeering laws by paying families of high-profile
recruits.
Société Générale to Pay $1.3 Billion to Resolve Violations
French bank Société Générale agreed to pay $1.3 billion in fines
and penalties related to U.S. federal and state allegations that it
processed billions of dollars in transactions connected to Iran,
Sudan, Cuba and Libya over the course of a decade.
(END) Dow Jones Newswires
November 19, 2018 21:15 ET (02:15 GMT)
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