News Highlights: Top Company News of the Day
February 23 2018 - 3:30PM
Dow Jones News
Chairman of China's Geely Has 9.7% Stake in Daimler
The chairman of Chinese car maker Zhejiang Geely Holding Group
has accumulated a 9.7% stake in German car and truck giant
Daimler-worth about $9 billion at current market prices.
General Mills, Maker of Cheerios, Now Wants to Feed Your Dog, Too
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.
China's 'Heavy Hand' With Anbang Rattles Some Analysts
Chinese regulators' move to seize Anbang Insurance, which some
view as a quasi-nationalization of the company, sheds light on how
far these so-called gray-rhino conglomerates have fallen out of
favor with President Xi Jinping's government.
Activist Starboard Seeks Board Seats at Cars.com
Starboard Value is taking a step further as an activist investor
in Cars.com and has nominated four people it wants to be named to
the board of the car-search engine company at its annual meeting
next month.
Volkswagen Results Benefit From Strong Sales, Cost Cutting
Volkswagen, the world's biggest car maker by sales, said net
income more than doubled last year on the back of strong sales of
its marques and the effect of cost-cutting at its flagship VW
brand.
Citi to Refund $335 Million in Card Charges
Citigroup, one of the largest U.S. credit-card issuers, said
Friday that it failed to lower interest rates for some credit-card
customers as required by federal law.
BB&T Restores ATM Service, Online Banking Problem Persists
BB&T Corp. was grappling with technical problems that left
customers unable to use online-banking services, but it resolved a
glitch that had locked customers out of ATMs since Thursday.
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.
East African Nation Seizes Strategic DP World Container Terminal
The East African nation of Djibouti seized a container terminal
run by one of the world's largest ports operators, as the country
seeks to exploit a scramble among rivals to control an important
commercial corridor.
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.
(END) Dow Jones Newswires
February 23, 2018 15:15 ET (20:15 GMT)
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