News Highlights: Top Company News of the Day

Date : 06/19/2017 @ 5:16PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

GM Laying Off About 1,000 Workers Amid Downturn in Passenger-Car Sales 

General Motors will eliminate a shift at a sedan plant in Kansas City, Kan., laying off about 1,000 people as the nation's largest auto maker continues to shed thousands of factory jobs amid a sharp downturn in demand for passenger cars.

UPS to Add Delivery Surcharges for Black Friday, Christmas Orders 

United Parcel Service for the first time will tack a surcharge onto most online orders shipping around the Black Friday shopping weekend and the week before Christmas.

Vice Media Secures $450 Million Investment From TPG 

Vice Media has secured a $450 million investment from private-equity firm TPG, as the youth-focused digital media company looks to step up its spending on scripted programming and plans a direct-to-consumer service.

Hedge-Fund Manager John Paulson Joins Valeant Board 

Hedge-fund billionaire John Paulson has joined the board of Valeant Pharmaceuticals, a sign that the investor remains bullish on the drugmaker's prospects despite accruing steep losses on investments in the firm.

Who's Behind Morgan Stanley's Bond Trading Turnaround? A Stock Guy 

Under Ted Pick, Morgan Stanley's bond-trading division has booked four straight quarters of fixed-income revenue above $1 billion. But Mr. Pick is striking a cautious note as other turnarounds have shown promise only to crumble.

Sen. Warren Calls for Removal of 12 Wells Fargo Directors 

Sen. Elizabeth Warren (D, Mass.) is urging the Federal Reserve to remove a dozen Wells Fargo board directors who served during the bank's sales-practices scandal, according to a letter reviewed by The Wall Street Journal.

Citigroup's Plan to Revive Its Lagging Stock 

It is time for Michael Corbat to change the narrative at Citigroup. Investors and even top executives at the bank say it is time for Mr. Corbat to shift to offense by boosting growth in areas like credit cards, Wall Street stock trading and retail banking.

Activist Land & Buildings Takes 4.3% Stake in Hudson's Bay 

Investor Land & Buildings is pushing Saks' parent Hudson's Bay to consider strategic alternatives, including possibly taking the company private or redeveloping its vast real-estate holdings.

Fox to Launch New Six-Second Ad Format for Digital Content and TV 

Fox Networks Group is preparing a new six-second ad format for digital platforms and eventually traditional TV, mirroring an ad format recently adopted by Google's YouTube.

EQT to Buy Rice for $6.7 Billion 

EQT Corp. agreed to buy Rice Energy Inc. for $6.7 billion in the latest proposed tie-up between energy producers suffering from low oil and gas prices.


(END) Dow Jones Newswires

June 19, 2017 17:01 ET (21:01 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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