News Highlights: Top Company News of the Day
February 21 2017 - 5:30AM
Dow Jones News
HSBC Expands Buyback Plan as Net Loss Widens
HSBC warned that a changed U.S. stance on global trade could
harm its business as net loss widened sharply to $4.23 billion.
Stock fell more than 4% in early London trading.
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.
BHP Billiton Returns to Profit, Raises Dividend
The mining giant posted a net profit of $3.20 billion in its
fiscal first half, reflecting higher commodity prices, continued
cost-cutting and the absence of large write-downs.
Anglo American Soars Back to Profit
Anglo American swung back to profitability last year amid the
rebound in commodity prices, after the miner enforced one of the
most sweeping structural changes a global corporation has seen in
years.
Telefónica Sells Telxius Stake in Debt-Reduction Drive
Telefónica has agreed to sell up to 40% of its Telxius
infrastructure unit to KKR & Co. as the Spanish
telecommunications giant seeks funds to whittle down its debt.
Pension Fund Sticks With Hedge Funds as Others Flee
After a year in which tens of billions of dollars fled global
hedge funds as investors flagged disappointing returns and high
fees, the industry is in need of friends. It still has one in
Canada's largest pension fund.
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.
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.
BHP: Watch Flip Side of Mining Giant's Copper Surge
BHP's concentration on copper paid off in 2016, but the easy
part is over.
Dalian Wanda's Dick Clark TV Deal Hits Hurdle
The $1 billion purchase of Dick Clark Productions by China's
Dalian Wanda has stalled amid Beijing's clampdown on capital
leaving the country.
(END) Dow Jones Newswires
February 21, 2017 05:15 ET (10:15 GMT)
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