News Highlights: Top Company News of the Day
February 20 2017 - 11:15PM
Dow Jones News
Ant Financial to Invest $200 Million in Kakao Pay
The financial arm of Chinese internet giant Alibaba Group
Holding will invest $200 million in the payments unit of South
Korean messaging company Kakao Corp. to grow its global payments
network.
Simon & Schuster Cancels Publication of Milo Yiannopoulos Book
CBS Corp.'s Simon & Schuster publishing arm said Monday it
has canceled the upcoming publication of a book by Milo
Yiannopoulos, after a video surfaced in which the controversial
conservative journalist appeared to condone sex between men and
young boys.
Toys "R" Us Lays Off 10%-15% of Corporate Employees
Toys "R" Us Inc. recently laid off between 10% and 15% of its
corporate employees, the latest retailer to cut jobs as shopping
rapidly shifts from physical stores to online ones.
WhatsApp Adds Snapchat-Like Story Feature Called Status
WhatsApp's 1.2 billion users will soon find a new feature that
looks like it came straight from Snapchat. The Status tool will let
people share photos, videos and animated GIFs with friends, all of
which will disappear after 24 hours.
Saudi Arabia Favors New York for Aramco IPO
Saudi Arabia is leaning toward listing its giant, state-run oil
company in New York, London or Toronto and has soured on the
prospect of floating the firm on an Asian stock exchange, people
familiar with the matter said.
Brazil's Vale Seeks Single Class of Stock
Brazilian mining giant Vale SA announced a plan to create a
single class of stock without a controlling shareholder, likely
reducing the potential for government interference in what
management characterized as a watershed for the company.
Samsung Heir, Seeking to Modernize Opaque Culture, Instead Faces Scandal
Lee Jae-yong took the South Korean conglomerate's reins vowing
to reshape it along Silicon Valley lines. Now a corruption probe
has dragged him in, raising the biggest doubts yet about whether he
has ushered the corporate giant into a new era.
Kraft-Unilever Deal Is Off, but Warren Buffett's Anomalies Live On
Behind Kraft's aborted bid for Unilever lies a tale of market
anomalies that have lasted decades, helped make Warren Buffett's
fortune and may-perhaps-have ended in a mini-bubble last year.
Kraft's Interest in Unilever Comes Right Out of 3G's Playbook
Behind Kraft's short-lived bid for rival packaged-food giant
Unilever is a basic conundrum: The company is running out of ways
to improve profitability through its own cost cuts.
Failed $143 Billion Deal Raises Pressure on Unilever, Kraft
Deal talks between Kraft Heinz and Unilever are dead, but both
consumer-goods giants now find themselves under heightened pressure
to make bold moves to accelerate growth.
(END) Dow Jones Newswires
February 20, 2017 23:00 ET (04:00 GMT)
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