News Highlights: Top Company News of the Day
August 23 2017 - 9:15AM
Dow Jones News
Wal-Mart and Google Partner to Challenge Amazon
Google and Wal-Mart Stores are joining forces in a partnership
that includes enabling voice-ordered purchases from the retail
giant on Google's virtual assistant, challenging rival Amazon.com's
grip on the next wave of e-commerce.
WPP Shares Plunge as It Fires a Warning Signal on Ad Sales
WPP shares fell more than 12% after the world's largest
advertising company reported a steeper-than-expected slowdown in ad
buying by consumer-goods companies, especially in North
America.
Cargill Invests in Startup That Grows Meat Tissue
Cargill, one of the world's largest producers of beef and
poultry, has taken a stake in a startup developing technology to
grow meat from self-reproducing animal cells.
Saudi Aramco IPO Sparks Rush to Privatize in Middle East
Saudi Arabia's move to list its state-run oil giant, combined
with years of lower oil prices, has inspired neighboring
oil-producing countries to tap public markets as a new source of
revenue.
Royal Bank of Canada Revenue Slips
Royal Bank of Canada's quarterly profit topped expectations amid
growth in its wealth-management business, even as unfavorable
market conditions caused revenue to slide. The bank raised its
dividend by 5%.
HP Earnings: What to Watch
HP has increased PC prices globally. It isn't clear if those
price increases will impact demand and profit margin in the fiscal
third quarter.
Providence Acquires Majority Stake in DoubleVerify
Providence Equity Partners is taking a majority stake in digital
measurement firm DoubleVerify, betting on tools that can suss out
fraud and verify the quality of digital media for online
advertisers.
LG Electronics to Build Factory for Electric-Car Parts in Michigan
The South Korean company will spend about $25 million to build a
plant in a Detroit suburb.
Uber Board Still Considering HPE's Whitman as CEO Contender
Uber Technologies' board is again considering Hewlett Packard
Enterprise Chief Executive Meg Whitman as a possible candidate for
the ride-hailing giant's CEO job despite her public statement
pulling out of contention, people familiar with the matter
said.
Mutual Funds Mark Down Uber Investments by Up to 15%
Four mutual-fund companies have marked down their investments in
Uber by as much as 15%, the first such price cuts that suggest
these investors are souring on the ride-hailing giant following a
scandal-ridden year.
(END) Dow Jones Newswires
August 23, 2017 09:00 ET (13:00 GMT)
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