News Highlights: Top Company News of the Day
October 20 2017 - 5:30PM
Dow Jones News
Wells Fargo Fires 4, as Woes Spread to Investment Banking
Wells Fargo has fired four foreign-exchange bankers amid an
investigation into that business by both the bank and
regulators.
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.
Merck to Shed Some U.S. Sales Reps to Cut Costs
Merck & Co. said it is laying off nearly 7% of its U.S.
workforce in a reorganization the company says will cut costs and
shift focus to products with growth potential.
Whole Foods Data Breach Affected About 100 Taprooms, Restaurants
Whole Foods Market said Friday that a data breach involving
credit-card charges made at the grocer's taprooms and full-service
restaurants affected about 100 venues in its stores over a
six-month period.
Wisconsin's Foxconn Deal Highlights How States Dangle Cash as a Lure
Wisconsin's $3 billion bid this summer to land Foxconn
Technology Group's first major U.S. factory looked smaller than
that of a neighboring state's, but included an increasingly popular
feature that likely made the difference: cash.
Procter & Gamble Puzzled by Weak Consumer Spending
Procter & Gamble recorded sluggish growth during the first
quarter as it battles a challenging market for consumer-goods
makers.
EU Antitrust Authorities Raid BMW's Headquarters
European Union authorities have raided BMW's offices over
concerns that several German car makers violated the bloc's cartel
rules through agreements that might have suppressed technology
costs.
Third Point Takes Stake in Dover, Calls for Split
Activist investor Daniel Loeb's Third Point has taken a stake in
industrial conglomerate Dover, calling on the company to separate
its energy business and improve results.
Activist Investor to Push Nestlé For Further Changes
Activist investor Daniel Loeb praised Nestlé's recent moves to
raise shareholder value but indicated he will continue to push the
packaged foods giant to make further changes.
Sears Pension Gaps Pressure Government Safety Nets in Canada, U.S.
Sears Canada's decision to liquidate its assets has laid a $79.3
million pension liability at the door of the Ontario provincial
government, people familiar with the matter said.
(END) Dow Jones Newswires
October 20, 2017 17:15 ET (21:15 GMT)
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