News Highlights: Top Company News of the Day
March 23 2017 - 9:15AM
Dow Jones News
Daimler Faces Diesel-Engine Fraud Investigation
German prosecutors launched an investigation into allegations
that an undisclosed number of Daimler sfaff may have committed
fraud linked to sales of the company's diesel-powered cars.
Can This Man Save Macy's?
The new CEO of Macy's discusses his plans for the iconic
department store to stay atop a shrinking market.
South Korean Shipbuilder Offered $2.6 Billion Bailout
Daewoo Shipbuilding & Marine Engineering has been hurt by
massive losses at its offshore projects.
Lotte Chairman Explains Why He's Putting an Antimissile Battery on his Golf Course
Since South Korea's government identified a Lotte-owned golf
course as a site for a U.S.-built missile-defense system, the
country's fifth-largest conglomerate has become a test case of
China's ability to wage economic warfare against its neighbors to
further its objectives.
Tencent Hires Baidu's Big-Data Director, Betting on Artificial Intelligence
In a sign of its ambition to compete more in artificial
intelligence, Tencent Holdings Ltd. says it has hired Zhang Tong, a
Stanford-trained researcher who formerly led Baidu's Big Data Lab,
to oversee its fledgling AI program.
Oak Hill to Buy Checkers Drive-In Restaurants in $525 Million Deal
Checkers Drive-In Restaurants has agreed to be sold to
private-equity firm Oak Hill Capital Partners in a $525 million
deal.
Microsoft Licenses Patents to Toyota In Bid For Bigger Car-Tech Role
Microsoft agreed to license a batch of patents to Toyota as part
of the software giant's effort to leverage its vast
intellectual-property portfolio to become a key provider of
connected-car technology.
Tronc Top Investors Face Off in Bitter Feud
Ousted Tronc director Patrick Soon-Shiong added to his stake in
the Los Angeles Times publisher, setting up for showdown with its
biggest shareholder and chairman Michael Ferro.
Hartford Financial Ends $15 Billion Fund Fight
The Hartford Financial Services Group Inc. is withdrawing a
request to replace dozens of funds available to its
variable-annuity customers, ending a nearly $15 billion tussle with
a fund firm that stood to lose assets.
Bebe Stores Hire Advisers as Retail Shakeout Continues
Bebe Stores hired financial advisers to help it explore
strategic alternatives, but people close to the matter don't
foresee a chapter 11 filing in the near future.
(END) Dow Jones Newswires
March 23, 2017 09:00 ET (13:00 GMT)
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