News Highlights: Top Company News of the Day
October 23 2017 - 11:15AM
Dow Jones News
Cisco to Buy BroadSoft
Cisco Systems will pay $1.7 billion to acquire BroadSoft, a
maker of cloud-based communications software, as the networking
giant steers further away from its legacy hardware and into sales
of software and services.
T-Mobile Skirts Merger Issue as Customer Base Grows
T-Mobile US added 817,000 of its most valuable postpaid phone
accounts in the third quarter but mostly avoided addressing its
merger discussions with rival Sprint, forcing investors to wait a
while longer for word on the company's future.
EU Antitrust Authorities Raid Daimler, Volkswagen Offices
European antitrust authorities carried out further inspections
of German car makers' premises, including the offices of Volkswagen
and Daimler, over concerns about an illegal cartel.
GE Compensation Moves Expected to Focus on Performance
Executive compensation is one of the many things John Flannery
plans to shake up he tightens the belt at General Electric. But his
options may be limited.
Hartford to Pay $1.45 Billion for a Unit of Aetna
Hartford Financial Services Group Inc. has agreed to pay $1.45
billion to health insurer Aetna Inc. for a unit that provides
life-, disability-income and other insurance products to employers'
benefits programs in the U.S.
Arconic Names Former GE Executive as CEO
Arconic named former General Electric executive Chip Blankenship
as its new leader, roughly six months after its prior CEO stepped
down after sending an unauthorized letter to an activist
investor.
Tesla's China Reach May Exceed Its Grasp
Tesla is growing popular in China, selling 12,000 high-end
electric cars this year. But its plan for a Shanghai factory
capable of turning out an estimated 150,000 vehicles annually
raises the question, Is it popular enough?
Ill-Timed Uber Investment Roils a Giant Saudi Fund
Saudi Arabia's state-owned Public Investment Fund is poised to
become one of the world's biggest investors. But the PIF, as it is
known, is off to a rocky start: After struggling to calculate its
own value, it is mired in conflict over disappointing investments,
including in Uber.
Potlatch to Combine With Deltic Timber in Stock Swap
Lumber companies Potlatch and Deltic Timber agreed to combine in
an all-stock deal in which Deltic shareholders would receive 1.8
Potlatch common shares for each Deltic share they own.
Kaspersky to Allow Review of Its Cybersecurity Software
Kaspersky Lab, the Moscow-based cybersecurity firm, pledged to
turn over the source code for its antivirus software for
independent review-a bid to protect its reputation after U.S.
officials said Russian operatives have used the popular program to
spy on Americans.
(END) Dow Jones Newswires
October 23, 2017 11:00 ET (15:00 GMT)
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