GM to Take $7 Billion Charge for U.S. Tax Overhaul

General Motors said 2017 pretax profit last year ended up at the high end of its previous forecast, but disclosed it will take a $7 billion write-down on deferred-tax assets stemming from the sweeping tax-overhaul bill passed last month.

 
Citigroup Earnings Wiped Out by Tax Charge

Citigroup reported its largest quarterly loss ever after its earnings were wiped out by a $22 billion charge related to the new tax law.

 
GE to Take Massive Charge to Shore Up Insurance Reserves

General Electric said it would book a $6.2 billion charge in its fourth quarter and will have to set aside $15 billion over seven years to bolster insurance reserves at its GE Capital unit, surprising investors with deeper than expected problems in a business many thought the company had left behind.

 
Google Heads Underwater to Boost Its Cloud Business

Google is expanding its sprawling network of undersea cables to plug into new regions around the world, in a bid to speed up its cloud-computing business and catch up to rivals Microsoft Corp. and Amazon.com Inc.

 
Chevron Returns to Iraqi Kurdistan's Oil Fields

Chevron is resuming drilling in Iraqi Kurdistan and taking steps to send staff there again, a sign that tensions between Baghdad and the Kurdistan Regional Government are easing.

 
BP's Deepwater Horizon Bill Grows by $1.7 Billion

BP will take a $1.7 billion charge in its fourth-quarter earnings because of settlement claims related to the 2010 disaster in the Gulf of Mexico.

 
Energizer to Buy Spectrum's Batteries and Lighting Unit for $2 Billion

Energizer Holdings said Tuesday it will buy Spectrum Brands Holdings's battery and portable lighting business for $2 billion in cash.

 
USA Compression Partners to Buy Business from Energy Transfer Partners

USA Compression Partners LP will buy Energy Transfer Partners LP's compression business in a deal with a total transaction value of about $1.8 billion.

 
Where Banks and Tech Are Going Head to Head

New rules in Europe have opened a battleground between big tech and big banks over who will control consumers' wallets.

 
UnitedHealth Profit Rises as Both Healthcare, Optum Businesses Grow

UnitedHealth's quarterly profit beat analysts' expectations and the health insurer raised its yearly outlook, as revenue from both its health care and health care services businesses increased.

(END) Dow Jones Newswires

January 16, 2018 09:15 ET (14:15 GMT)

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