News Highlights: Top Company News of the Day
September 26 2017 - 3:15PM
Dow Jones News
Equifax CEO Smith to Exit Following Big Data Breach
Equifax Chief Executive Richard Smith is leaving the
credit-reporting company after a massive data breach under his
watch exposed the information of about 143 million Americans.
Uber Shareholder Sues Company, Ex-CEO Over Alleged Fraud
A lawsuit from the Irving Firemen's Relief & Retirement Fund
in Texas claims Uber and former CEO Travis Kalanick knowingly
misled investors while raising capital by failing to reveal the
company had potentially broken laws.
Bank of America Venture Trims 10% of Staff as Part of Digital Push
Bank of America Corp.'s merchant-services joint-venture has laid
off about 10% of its staffers as a part of a restructuring,
according to a person familiar with the matter.
Kohl's Names New CEO
Kohl's said Chief Merchandising and Customer Officer Michelle
Gass will be its next chief executive, as the department-store
chain moves forward a succession plan to replace its longtime
leader.
Dyson Says It Is Developing Electric Car
Dyson, the British technology company known for its high-end
vacuum cleaners and ubiquitous hand dryers, said Tuesday that it
was developing an electric car to hit roads by 2020 or 2021.
Toyota to Start Making Hybrid Engines in U.S.
Toyota Motor Corp. said it will start production of its first
American-made electric-gas hybrid engines, the latest in a series
of investments by foreign auto makers to expand operations in the
U.S.
Boeing Recruits Insurers to Fill Financing Gap
Boeing Co. has found a new source of financing for jetliner
orders that are expected to approach $200 billion a year by the end
of the decade: insurance companies.
Axovant Says Alzheimer's Drug Failed in Trials
Axovant Sciences said that its experimental Alzheimer's drug
failed to meet the goals of a pivotal trial, the latest setback for
efforts to find new treatments for the memory-robbing disease.
Nestlé Cedes Ground to Loeb but Won't Budge on L'Oreal
Nestlé set a new profit-margin target and said it would
accelerate share buybacks amid pressure from activist investor Dan
Loeb, but remained firm on retaining its stake in cosmetics giant
L'Oréal.
Alibaba Takes Control of Logistics Business as It Seeks Global Expansion
The Chinese e-commerce giant has become the majority owner of
affiliate Cainiao and plans to invest around $15 billion over five
years to build its logistics network.
(END) Dow Jones Newswires
September 26, 2017 15:00 ET (19:00 GMT)
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