News Highlights: Top Company News of the Day
October 20 2017 - 9:30AM
Dow Jones News
New GE Chief Slashes Forecasts, Plans to Exit $20 Billion in Businesses
GE's quarterly earnings fell as it incurred hefty restructuring
charges during CEO John Flannery's first official quarter at the
helm, and the new CEO pledged to exit more than $20 billion of the
company's businesses.
Procter & Gamble's Profit Rises
Procter & Gamble said its first-quarter profit rose 5% as it
battles in a challenging market for consumer-goods makers.
Daimler Earnings Hit as Diesel Scandal Lingers
Daimler reported a sharp fall in quarterly profit, as its
flagship premium car brand Mercedes-Benz was hammered by
airbag-related recalls and the cost of fixing emissions controls on
diesel vehicles.
Ericsson Posts Another Loss but Faint Signal of Recovery Emerges
Telecom giant Ericsson reported another quarter of falling sales
and widening losses as it struggles to compete with new Chinese
players, but investors saw signs that a monthslong turnaround
effort was starting to bear fruit.
Japan's SoftBank Plans A Second Giant Technology Fund
SoftBank Group Corp., which runs what is already the world's
biggest technology investment fund, is planning to create a second
fund that could be even larger, according to people close to the
Japanese telecommunications and investment giant.
Kobe Steel Finds More Products Shipped With Quality Issues
The quality scandal at Kobe Steel deepened after the company
said one of its copper plants was under investigation for breaching
Japan's industrial standards.
First Data to Buy BluePay for $760 Million
First Data said it has reached a deal to buy payments-processing
firm BluePay Holdings.
Metro Posts Modest Sales Rise
Metro said that sales in the fourth quarter rose 0.5% on a
like-for-like basis due to positive acquisition effects and the
company's strong online business.
How the Stalled Aramco IPO Could Hamper Hong Kong's Dreams
An Aramco listing in Hong Kong would stoke the city's ambitions
to become the place where Chinese capital meets international
companies.
AmEx Chief's Mission: Get Millennials, Keep the Rich
Incoming American Express CEO Stephen Squeri is looking regain
the cachet of the AmEx brand, both for millennials who don't view
it the same way as their parents and for established customers who
have been wooed by banks offering better services and more
perks.
(END) Dow Jones Newswires
October 20, 2017 09:15 ET (13:15 GMT)
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