News Highlights: Top Company News of the Day
13 December 2018 - 3:15PM
Dow Jones News
GM CEO Is Under Fire From Trump, Lawmakers Over Restructuring
General Motors Chief Executive Mary Barra faces bipartisan anger
in Washington over the company's plans to cut 14,800 jobs and close
four plants despite robust profits and a strong economy.
Tailored Brands Trims Outlook
Tailored Brands Inc. lowered its outlook for the year after
sales at its Men's Wearhouse business softened last month.
Cryptocurrency Startup Settles Fraud Accusations
One of the first startups sued by U.S. regulators over its
initial coin offering will pay $2.3 million after being accused of
scamming investors through claims such as building a cryptocurrency
bank.
Lowe's Adds $10 Billion to Stock Buyback Program
Lowe's plans to increase its share buyback program by $10
billion, as the home-improvement retailer looks to turn investor
sentiment and prove to Wall Street its business and growth plans
are on solid footing.
U.K. Electricity-Network Operator National Grid Names CFO
U.K. natural-gas and electricity-network operator National Grid
appointed interim Chief Financial Officer Andy Agg as permanent
finance chief.
CBS News Settles Harassment Suit From Three Colleagues of Charlie Rose
CBS News settled a lawsuit, for undisclosed terms, brought by
three women who alleged they were harassed by former on-air
personality Charlie Rose.
New York's Russian Samovar Restaurant Files for Bankruptcy
Russian Samovar Inc., a New York restaurant once co-owned by
ballet legend Mikhail Baryshnikov and featured in the "Sex and the
City" television series, has filed for bankruptcy, citing a
$199,000 lease dispute.
P&G Buys Walker to Expand Offerings to African-Americans
Procter & Gamble agreed to acquire Walker & Co. as the
consumer-products giant looks to serve more African-Americans with
health and beauty products.
Tencent Music Rises in Trading Debut
Investors sounded notes of optimism about Tencent Music
Entertainment Group, one of the biggest IPOs in the U.S. in recent
years, pushing its shares 7.7% higher in the company's trading
debut.
Bausch Health Agrees to Buy Synergy Pharmaceuticals for $200 Million
Synergy Pharmaceuticals filed for bankruptcy with a plan to sell
its assets to Bausch Health Companies for about $200 million in
cash.
(END) Dow Jones Newswires
December 12, 2018 23:00 ET (04:00 GMT)
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