News Highlights: Top Company News of the Day
February 23 2018 - 9:15AM
Dow Jones News
General Mills to Buy Pet-Food Maker Blue Buffalo for About $8 Billion
General Mills has agreed to buy Blue Buffalo Pet Products for
about $8 billion, as the food giant looks for a piece of the
fast-growing natural pet-food market.
Chinese Regulator Seizes Anbang
China's insurance regulatory agency took control of
hard-charging, acquisitive Anbang Insurance, saying the action is
needed to avoid a collapse of the firm following suspected illegal
activity and the downfall of its once-highflying chairman.
Royal Bank of Canada's Earnings Hit by Tax Charge
Profits fell slightly at Royal Bank of Canada as the company
recorded an anticipated charge from the new U.S. tax law.
Playing With $100 Billion, Warren Buffett Is Giant Trader of U.S. Treasury Bills
Warren Buffett's Berkshire Hathaway has used its mounting cash
pile to become one of the world's largest owners of U.S. Treasury
bills after struggling to find big companies to buy in recent
years.
RBS Makes First Full-Year Profit in Decade Despite 4Q Loss
Royal Bank of Scotland said that it made its first full-year
profit in ten years in 2017, despite a fourth-quarter loss.
Maersk Expects Uptick in Fuel Costs Due To New Maritime Regulations
A. P. Moeller-Maersk A/S is bracing for higher expenses stemming
from new rules that limit the sulfur content of bunker fuel from
2020 onward, the company's finance chief said.
Anbang and the Financialization of China's Economy
Beijing just took over China's most notorious purveyor of dodgy
wealth management products. The next phase of the debt crackdown
might prove more damaging.
Auto Makers Race to Build a Cheaper Electric Car for India, Other Growing Markets
The world's auto makers are vying to build an affordable
electric car to target drivers in emerging economies and
potentially create a competitor to Chinese-made vehicles.
China's Online Dating Giants Forge a New Relationship
Two of the country's biggest online dating apps-Momo Inc. and
Tantan Ltd.-are pairing off, with Momo announcing that it's paying
about $763 million in a cash-and-stock acquisition of its chief
rival.
Russian Tycoon Deripaska Quits as President of Rusal
Russian tycoon Oleg Deripaska, who has faced scrutiny over his
ties to the Kremlin and former Trump campaign chairman Paul
Manafort, is stepping back from the presidency of his giant
aluminum company.
(END) Dow Jones Newswires
February 23, 2018 09:00 ET (14:00 GMT)
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