News Highlights: Top Company News of the Day
June 28 2017 - 11:31AM
Dow Jones News
How Buffett's Bank of America Bet Changes With the Fed Stress Test
Warren Buffett's Berkshire Hathaway may become the biggest
shareholder in Bank of America, if the country's second-largest
bank gets the expected stress-test result Wednesday.
Stephan Feldgoise, a Top Goldman Merger Banker, to Retire
Stephan Feldgoise, co-head of Goldman's M&A group in the
Americas, is retiring from the firm at age 46, according to people
familiar with the matter. He will remain an advisory director.
Yogurt Declines Continue to Hurt General Mills
General Mills' new chief executive said he would invest in
reviving sales as the struggling yogurt business continues to weigh
on the company.
Monsanto Boosted by Soybean Seeds and Traits Business
Monsanto's soybean seed and traits business posted a 29%
increase in third-quarter sales, which helped propel the seed giant
to better-than-expected results for the period.
Alibaba Pumps Another $1 Billion Into Lazada
The Chinese internet giant is plowing an additional $1 billion
into Southeast Asian e-commerce firm Lazada Group, raising its
stake to 83% from 51%.
U.S. Hedge Funds Agree to $885 Million Rescue Deal With U.K.'s Co-op Bank
Britain's Co-operative Bank said bondholders, including some
U.S. funds that saved the bank from failure in 2013, will inject
$319.3 million in new equity and raise around another $565.8
million for the bank through a debt swap.
Samsung to Invest Millions in South Carolina Factory
Samsung Electronics will invest $380 million to expand its U.S.
home-appliance manufacturing operations at a site in Newberry,
S.C., generating more than 950 local jobs by 2020.
Toshiba Sues Western Digital in Bid to Keep Sale of Chip Unit Alive
Toshiba is racing to bring in $20 billion from the sale of its
stake in Toshiba Memory.
J.P. Morgan Finds the Newest Banking Fad: Dark Corners
J.P. Morgan Chase and General Electric are announcing Wednesday
that the industrial giant will help install new energy management
and digital technologies for about 4,500 branches at the nation's
largest bank.
Puerto Rico's Federal Supervisors Veto $9 Billion Utility Debt Deal
A $9 billion restructuring deal covering Puerto Rico's public
power monopoly failed to win approval from the island's federal
oversight officials, raising the likelihood of default at one of
the largest U.S. utilities.
(END) Dow Jones Newswires
June 28, 2017 11:16 ET (15:16 GMT)
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