Goldman Sachs, Morgan Stanley Stress Over Capital Returns

The two banks barely passed the Federal Reserve's annual stress tests, raising doubts about their ability to grow dividends and buybacks over the next year.

 
China Confirms Transfer of Anbang Insurance to Government

Chinese authorities confirmed the transfer of nearly full ownership of troubled Anbang Insurance Group to a government-controlled fund, effectively transforming a once boldly entrepreneurial firm into a state-owned enterprise.

 
CEO's Stock Award From Chinese Smartphone Maker Xiaomi Is One of the Largest Ever

Xiaomi, the Chinese smartphone maker whose value may hit $70 billion, gave its founder and chief executive a token of its appreciation: $1.5 billion in stock, no strings attached, in one of the largest corporate paydays in history.

 
Johnson & Johnson Group Worldwide Chairman Peterson to Retire

Sandra Peterson will leave post Oct. 1 after nearly six years with company

 
AT&T's Interest in Ad Tech Gets Thumbs Up on Madison Avenue

News of AT&T's talks to acquire advertising tech firm AppNexus was welcomed by marketers, who are eager to have more options in the online ad sector beyond the dominant players Google and Facebook.

 
Former WPP CEO Denies He Visited a Prostitute and Paid Using Company Money

WPP founder Martin Sorrell denied that he visited a prostitute and paid with company money as he fielded questions about his reasons for resigning as chief executive of the world's largest advertising company.

 
Cummins Will Pay Tariff to Import Engines From Its Own Plants in China

Cummins, which imports engines and other products from its factories in China, is among U.S. companies likely to be stung by an American tariff on Chinese-made goods that takes effect next month.

 
Intel CEO Challenge: Pick From Thin Bench, or Look Outside

Brian Krzanich's resignation this week leaves Intel's board with a tough choice: Name the next CEO from a small pool of internal candidates, or go outside for the first time in the chip maker's 50-year history.

 
These Bank Customers Are Making a Bundle on Their Deposits

So far banks have resisted rewarding deposit customers with higher rates.

 
BlackBerry Reports Net Loss, Revenue Drop

BlackBerry reported a net loss of $60 million, or 11 cents a share, compared with a profit of $671 million, or $1.23 a share, for the same quarter a year before.

(END) Dow Jones Newswires

June 22, 2018 15:15 ET (19:15 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.