News Highlights: Top Company News of the Day
July 25 2017 - 5:30AM
Dow Jones News
SoftBank Seeks Multibillion-Dollar Stake in Uber
SoftBank is pushing to take a commanding stake in the
ride-hailing market, angling for a piece of Uber after spreading
its bets across a trio of Asian startups.
Michael Kors to Buy Jimmy Choo for $1.2 Billion
Luxury-fashion company Michael Kors has reached a deal to buy
Jimmy Choo for $1.17 billion, giving it a new avenue for growth as
its core handbag market slows.
Barnes & Noble Is Urged to Sell Itself
Barnes & Nobel is being pushed to sell itself by Sandell
Asset Management, which says the beleaguered bookseller could
benefit from fresh investment.
Sony Restructures Television Unit
Sony Pictures Entertainment has restructured its television
production unit in the wake of two top executives departing last
month to oversee's push into creating original content.
Who Owns HNA? We Still Don't Know
China's acquisitive HNA Group has disclosed more than ever about
its owners. That won't stop the questions.
U.K. Opens Corruption Probe in Rio Tinto in Guinea
The U.K.'s Serious Fraud Office said Monday it opened an
investigation into suspected corrupt activities by mining giant Rio
Tinto in Guinea.
Daimler Gets a Foothold in China's Self-Driving Car Market
Mercedes-Benz parent Daimler is investing in a Chinese
self-driving startup, in another instance of a Western auto maker
seeking out a Chinese partner to get a foothold in a challenging
market.
Freight-Booking Startup Raises $62 Million
Digital freight-booking startup Convoy raised $62 million in a
funding round led by Silicon Valley startup accelerator Y
Combinator, money the company said it plans to use to expand
nationally.
J.C. Penney Picks Former Darden, Wal-Mart Executive for CFO Role
J.C. Penney Co. named Jeffrey Davis its new finance chief
Monday, an external hire with experience in the retail and
restaurant industries.
AbbVie Ordered to Pay $150 Million in AndroGel Lawsuit
A federal-court jury in Chicago ordered drugmaker AbbVie to pay
$150 million in punitive damages to an Oregon man after finding the
company liable for fraudulent misrepresentations about the safety
of the testosterone-replacement therapy AndroGel, according to
court records.
(END) Dow Jones Newswires
July 25, 2017 05:15 ET (09:15 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.