News Highlights: Top Company News of the Day
January 16 2018 - 9:15PM
Dow Jones News
Troubles Push GE to Consider a Breakup
General Electric is considering breaking itself apart, its chief
executive said, after disclosing more problems buried in one of its
major units.
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.
GM to Take $7 Billion Charge for U.S. Tax Overhaul
General Motors said 2017 pretax profit likely 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
tax-overhaul law.
Ford Sees Lower Operating Profit on Earnings-per-Share Basis
Ford said it expects lower operating profit on an
earnings-per-share basis in 2018, with higher commodity costs and
adverse exchange rates offsetting gains from cost-cutting efforts
and continued demand for high-margin pickup trucks.
Nestlé Sells Butterfinger and BabyRuth Unit to Italian Candy Maker
Ferrero International, the Italian confectionery maker, muscled
further into the North America market, agreeing to pay $2.8 billion
in cash to buy Nestlé's U.S. chocolate business that includes the
Butterfinger and Baby Ruth brands.
YouTube Subjecting All 'Preferred' Content to Human Review
YouTube is ordering workers to review thousands of hours of its
most popular content and setting new limits on which videos can run
ads, in moves to ease advertisers' worries that their brands are
showing up alongside offensive or controversial videos.
Celgene in Talks to Buy Juno Therapeutics
Celgene Corp. is in talks to buy biotechnology company Juno
Therapeutics Inc., just days after announcing another major deal to
bolster its portfolio of blood-cancer drugs.
Nissan Expects to Build New U.S. Plant
Nissan Motor's chief executive said the company believes it will
need to build a new plant in the U.S. in four or five years, when
the car maker would be ready for another push to expand.
Simon Settles Suit With Starbucks Over Teavana Closures
Simon Property Group and Starbucks have reached a settlement
over a lawsuit by the mall owner that had sought to prevent
Starbucks from closing Teavana stores in its shopping centers.
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 Microsoft and
Amazon.com.
(END) Dow Jones Newswires
January 16, 2018 21:00 ET (02:00 GMT)
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