News Highlights: Top Company News of the Day
21 May 2019 - 5:30AM
Dow Jones News
PG&E Finger-Pointing Is Counterproductive
The bankrupt utility was found culpable for 2018 wildfires, but
sharing blame is the only way to get ahead of the next big
blaze.
Tesla Stock Hits One-Year Low
Tesla's stock dropped 5%, highlighting the electric car maker's
challenges including its balance sheet and Model 3 vehicle
demand.
T-Mobile, Sprint Get Merger Backing From FCC Chairman
FCC Chairman Ajit Pai said he would back the more than $26
billion combination of cellphone carriers T-Mobile US and Sprint
after the companies agreed to a package of concessions.
Ford to Cut 7,000 Jobs in Bid to Catch Up to Rivals
Ford Motor said it is cutting 7,000 salaried employees, or about
10% of its white-collar workforce, part of Chief Executive Jim
Hackett's broader plan to reverse declining profits and catch up to
competitors in the fast-changing car business.
Deutsche Bank Shares Hit All-Time Low
Deutsche Bank's shares traded at an all-time low as officials
braced themselves for a barrage of criticism from shareholders at
the bank's annual meeting Thursday in Frankfurt.
Toshiba Memory to Buy Out Shares From Apple, Dell
Apple, Dell and two other U.S. technology companies are set to
give up their preferred shares in the Japanese chip maker for more
than $4 billion under a refinancing plan.
Dish Network to Buy EchoStar's Broadcast Satellite Business
Dish Network reached a deal to buy EchoStar's broadcast
satellite-service business for about $800 million in stock, as the
company brings in-house operations it split off more than a decade
ago.
Google Bans Huawei Phones From Some Android Services
Huawei has begun to feel the effects of U.S. moves to curb its
access to U.S. technology as Google cut access to some Android
services on Huawei smartphones.
Morgan Stanley Buys Stake in French Asset Manager Tikehau Capital
A unit of the U.S. investment bank, alongside existing
shareholders, will invest at least EUR300 million ($334.9 million)
of fresh equity into the Paris-based asset manager.
Ryanair Warns Boeing 737 MAX Grounding Will Hurt Profit
Ryanair, Europe's biggest budget airline and the region's
largest customer for Boeing Co.'s 737 MAX jets, warned profit would
be dented this year by the plane's global grounding.
(END) Dow Jones Newswires
May 20, 2019 15:15 ET (19:15 GMT)
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