News Highlights: Top Company News of the Day
February 23 2018 - 7:30PM
Dow Jones News
Chairman of China's Geely Has 9.7% Stake in Daimler
The self-made billionaire chairman of Chinese car maker Zhejiang
Geely Holding Group Co. has accumulated a 9.7%, stake, worth about
$9 billion, in German car and truck giant Daimler AG-the biggest
overseas investment yet by China Inc. in the West's automotive
industry.
Dropbox Files for Its Initial Public Offering
Web-storage company Dropbox Inc. raised the curtain Friday on
its long-awaited initial public offering, which is set to be one of
the biggest tech debuts of the past few years.
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.
Huawei's U.K. Relationship Raises U.S. Concerns
Huawei Technologies Co., a Chinese maker of smartphones and
telecom gear, is seen in Washington as a potential tool of
state-sponsored spying, but Britain and several other U.S. allies
are embracing Huawei's technology.
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 Boosts Earnings Through U.S. Capital Markets Push
Royal Bank of Canada has focused its U.S. ambitions on its
capital markets unit. Its first-quarter results suggest the efforts
may be starting to pay off.
(END) Dow Jones Newswires
February 23, 2018 19:15 ET (00:15 GMT)
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