News Highlights: Top Company News of the Day
March 29 2017 - 9:15PM
Dow Jones News
Legg Mason to Cut 3% of Corporate Staff
Legg Mason is laying off 3% of its corporate staff because of
"disruption" in the money management industry.
Lululemon Promises Bolder Clothes to Revive Sales
Lululemon Athletica Inc. issued a weak outlook for the current
quarter, blaming spring clothing that wasn't colorful enough to
entice shoppers to its website or stores.
Merrill Lynch Restructures Leadership
Bank of America Corp.'s brokerage arm is thinning some of its
executive ranks and shuffling others in an effort to get brokers
collecting more assets and producing more revenue, according to a
memorandum viewed by The Wall Street Journal.
SunEdison Files Plan to Repay Billions in Debt
SunEdison filed a debt-repayment plan after nearly a year in
chapter 11, propelled by major settlements with its two former
TerraForm subsidiaries worth more than $800 million.
Synovus Financial in Talks to Buy Cabela's Financial Arm
Cabela's is in talks to sell its banking operations to Synovus
Financial Corp.
Amazon to Shut Down Unprofitable Quidsi Division
Quidsi, manager of Diapers.com and Soap.com, spent 7 years with
Amazon after rising to prominence shipping diapers and other
household staples largely for free.
LSE Given Competitive Edge After Merger With Deutsche Börse Blocked
London Stock Exchange Group PLC's bet on the growth of passive
investing stands to give it an edge over Deutsche Börse AG as the
two go it alone after European regulators blocked their plan to
create Europe's largest exchange operator.
FCC Steps Back from Program Subsidizing Broadband for the Poor
The FCC said it would cede oversight of companies providing
subsidized broadband service to low-income Americans under the
Lifeline program, arguing the responsibility belongs to the
states.
Ford to Record $295 Million Charge on Recalls
Ford said a $295 million charge for recalls covering vehicles
with fire risks and faulty door latches would contribute to a lower
first-quarter profit, the second time in less than a year that
safety concerns have dented its bottom line.
U.K. Airlines Face Bumpy Post-Brexit Path
British carriers face the prospect of having to cease serving
some markets should Britain and the EU fail to negotiate an accord
to preserve the kind of market access provided by the European
air-traffic agreement.
(END) Dow Jones Newswires
March 29, 2017 21:00 ET (01:00 GMT)
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