News Highlights: Top Company News of the Day
May 22 2017 - 3:15PM
Dow Jones News
Ford Replaces CEO Amid Pressure on Profit, Share Price
Ford is replacing CEO Mark Fields with Jim Hackett, who heads
its innovation unit. The company has been considering leadership
changes amid dissatisfaction with the stock price and a drive to
clarify strategy.
Arconic, Elliott Reach Deal to End Proxy Contest
Arconic struck a deal to give hedge fund Elliott Management
seats on its board of directors, a settlement that ends a bruising
five-month battle days before the vote.
Huntsman Strikes Merger Deal With Clariant
Huntsman Corp. and Switzerland's Clariant AG struck a deal to
merge, creating a chemicals giant worth about $14 billion as
companies in the industry seek ways to cut costs and boost
revenue.
Citi Settles With DOJ Over Money Laundering
Citigroup has agreed to pay less than $100 million to settle a
yearslong money laundering investigation, the bank and government
agencies announced Monday.
CBS Extends CEO Leslie Moonves's Contract Through 2021
CBS said it reached a two-year contract extension with Chief
Executive Leslie Moonves, who is now expected to stay with the
media company through June 30, 2021
Amid Slide in DVD Sales, Redbox to Rent Some Movies Sooner
Redbox got a boost in its efforts to compete with digital
outlets Monday as Hollywood's largest studio agreed to make its
movie discs available earlier in the company's movie-rental
kiosks.
Remember 'Avatar'? Disney Hopes So With Big Bet on Theme Park
Disney is betting the most successful movie ever will help
continue a hot streak for its theme park business. But there are
concerns about whether tourists will be drawn to a place inspired
by an eight-year-old film.
Boeing Sees Potential Widebody Jet Sale to Saudi Airline
Boeing Co. said Sunday it had agreed to the potential sale of 16
widebody jets to a Saudi Arabian airline and a range of equipment
for the country's armed forces.
Maxus Energy Wins Court Approval of Chapter 11 Plan
Maxus Energy Corp. won confirmation Monday of a chapter 11
liquidation plan that spells out how its assets will be used to
address New Jersey's contaminated Passaic River.
Solar-Energy Giant Was Manipulating Sales Data, Say Former Managers
Former managers at one of the largest U.S. solar-energy
companies say they manipulated a key sales metric around the time
of the company's 2015 initial public offering.
(END) Dow Jones Newswires
May 22, 2017 15:00 ET (19:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.