News Highlights: Top Company News of the Day
February 23 2017 - 11:30PM
Dow Jones News
Alphabet's Waymo Sues Uber Over Self-Driving Car Secrets
Google parent Alphabet's heated rivalry with Uber over
self-driving cars has spilled into the courthouse, after the
internet giant sued the ride-hailing company for allegedly stealing
trade secrets to jump-start its own autonomous vehicle program.
Baidu Profit Falls Sharply on Lower Marketing Revenue
A Chinese regulatory crackdown on online search and advertising
drove a sharp drop in Baidu Inc.'s quarterly profit and a second
consecutive revenue decline.
Time Warner to Sell TV Station Amid AT&T Merger
Time Warner Inc. agreed to sell its Atlanta television station
to Meredith Corp. for $70 million, removing a significant factor
that could have prompted the Federal Communications Commission to
review Time Warner's $85 billion sale to AT&T Inc.
Capital One Discloses Probe Into Anti-Money Laundering Program
Capital One Financial disclosed Thursday that it is under
investigation by the New York District Attorney's Office, the
Justice Department and the Financial Crimes Enforcement Network
over "certain former check casher clients" of its commercial
banking business and over its anti-money-laundering program.
Merrill Lynch Cuts Maximum Advisory Fee for Smaller Clients
Merrill Lynch is cutting account fees by about 20% for some
customers who pay for advice, as the brokerage industry continues
to put more emphasis on charging investors level fees versus
commissions.
Nordstrom Sales Rise on Discount Stores Strength
Nordstrom Inc. posted higher earnings and revenue in the latest
quarter, helped by sales at the department store operator's
off-price retailers.
Coca-Cola Needs to Be More Than Just Coke, its Next Chief Says
James Quincey, Coke's current chief operating officer who will
take the reins in May, said the company must speed up the
development of products beyond soda.
HP Enterprise Posts Steep Revenue Drop, Lowers Outlook
Hewlett Packard Enterprise suffered its steepest drop in
quarterly revenue since it split from the PC and printer business,
and lowered its outlook for the year, suggesting further weakness
in corporate tech spending.
SingTel Furthers Ad-Tech Ambitions With Turn Acquisition
Singapore-based telecom provider SingTel is pushing further into
the advertising technology business with the acquisition of
ad-buying firm Turn, in what may be a mixed signal for the
turbulent ad tech market.
Hanjin Creditors Fighting Over Who Can Sell Shipping Containers
Stacks of sky-blue shipping containers, one of the last assets
of bankrupt Hanjin Shipping Co., litter ports on both coasts. Now a
fight is brewing in U.S. Bankruptcy Court over who can sell
them.
(END) Dow Jones Newswires
February 23, 2017 23:15 ET (04:15 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.