News Highlights: Top Company News of the Day
January 17 2018 - 11:30PM
Dow Jones News
Apple to Pay $38 Billion in Taxes on Cash Overseas, Build U.S. Campus
Apple said it would pay a one-time tax of $38 billion on its
overseas cash holdings and ramp up spending in the U.S., as the
world's most valuable public company seeks to emphasize its
contributions to the American economy after years of criticism for
outsourcing manufacturing to China.
Starboard Value to Launch Proxy Fight for Entire Board at Mellanox
Starboard Value LP is launching a fight to remove the entire
sitting board at semiconductor company Mellanox Technologies, the
latest attempt by the New York activist to take over a whole
boardroom.
Goldman Sachs Loses Its Trading Edge
Goldman Sachs posted its first quarterly loss in six years as a
dismal showing by its trading unit compounded a one-time charge
related to the new tax law.
Shari Redstone Seeks to Shake Up CBS Board, Pushes for Viacom Deal
Shari Redstone is advocating for new blood on the board of CBS
Corp. as she renews her push to merge the company with Viacom,
according to people familiar with the matter.
Stock Market's Crucial End-of-Day Auctions Set for Shakeup
Regulators dealt a blow to the New York Stock Exchange and
Nasdaq Inc., approving a plan by a rival to loosen their grip over
the crucial 4 p.m. closing auctions that determine the final
end-of-day prices for thousands of stocks.
Facebook Widens Probe Into Alleged Russian Interference in Brexit
Facebook said it was broadening its investigation into whether
Russia attempted to meddle in the 2016 referendum on Britain's
membership in the European Union, after its earlier probe found
only a minimal amount of activity.
Wells Fargo Risk Chief to Retire
Wells Fargo's Chief Risk Officer Michael Loughlin is retiring as
the bank continues to face heightened regulatory scrutiny,
especially over its risk- management practices.
FTC Probes Broadcom Over Negotiations With Customers
The FTC is investigating whether Broadcom engaged in
anticompetitive tactics in negotiations with customers.
For GE, a Breakup Is No Quick Fix
While GE's core Aviation, Power and Healthcare divisions would
be among the biggest players in their markets, separating them
would require unraveling intertwined operations, pensions and
debts.
Short Seller Cohodes Claims Home Capital Group Misled Him
Marc Cohodes sued Canadian mortgage lender Home Capital Group
Inc. for $3 million for allegedly misrepresenting the state of its
business in 2015, leading him to close out short positions at a
loss
(END) Dow Jones Newswires
January 17, 2018 23:15 ET (04:15 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.