News Highlights: Top Company News of the Day
February 24 2017 - 5:15PM
Dow Jones News
J.C. Penney to Close More Than 100 Stores
J.C. Penney said it would shutter two distribution centers and
up to 140 stores as the big-box retailer contends with falling foot
traffic. The company also reported its first annual profit since
2010.
Vale CEO to Step Down in May
Brazilian mining giant Vale said its chief executive plans to
step down when his term ends in May, amid reports of pressure to
replace him with a political appointee.
Trump to Meet With Insurance Executives on Repeal of Affordable Care Act
President Donald Trump is planning to hold a round-table meeting
with health-insurance executives at the White House on Monday,
according to people close to the planning, as the administration
looks to encourage insurers to sign onto Republicans' health-care
overhaul efforts.
Vanguard's Offer to Shareholders: Cede Power to Save Money
Indexing pioneer Vanguard Group wants its funds' shareholders to
relinquish some of their powers in exchange for potentially lower
costs.
Deutsche Borse, LSE to Further Address Antitrust Concerns
Deutsche Börse AG and London Stock Exchange Group PLC are poised
to tweak their previously offered commitments to address antitrust
concerns from regulators over plans to create Europe's largest
exchange operator.
Goldman Executive Who Helped Court 1MDB Leaves Firm
A senior Goldman Sachs Group official who was involved in the
bank's dealings with a Malaysian state investment fund that is the
subject of a sprawling global corruption probe has left the
firm.
Hilton to Buy Back $1 Billion in Shares, Pay Dividend
Hilton Worldwide Holdings announced a $1 billion share buyback
program and launched a dividend as the hotel company charts its
path forward after a major reorganization of its business.
British Airways Parent Jump-Starts Plans for Budget Trans-Atlantic Flights
British Airways parent IAG said flights from Barcelona would
start in June, a day after Norwegian Air Shuttle expanded its
service with fares from $65. IAG also reported a 29% rise in profit
and announced a share buyback.
GM, Tech Industry at Loggerheads Over Self-Driving Cars
General Motors is backing legislation in numerous states that
tech companies say is designed to put them at a disadvantage in the
nascent market for autonomous vehicles. GM denies the claim.
Former SunEdison Executives File Whistleblower Lawsuits
Two former executives at SunEdison, the solar-power company that
filed for bankruptcy protection last year, filed whistleblower
lawsuits claiming they were fired after sounding the alarm about
the company's precarious finances.
(END) Dow Jones Newswires
February 24, 2017 17:00 ET (22:00 GMT)
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