SEC Probes Whether Companies Rounded Up Earnings Per Share

The SEC is investigating whether companies have engaged in improper rounding up of quarterly earnings, people familiar with the matter said.

 
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.

 
Stock Award to Xiaomi CEO Is One of  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.

 
Police: Operator in Self-Driving Uber Crash Was Streaming 'The Voice'

The test operator of a self-driving Uber car that hit and killed a pedestrian in Arizona last March was streaming the TV show "The Voice" on her phone just before the collision, police say.

 
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.

 
Johnson & Johnson Remakes Top Leadership

Sandra Peterson, the health-products company's No. 2 executive, plans to leave her post Oct. 1, triggering a series of changes.

 
Weinstein Co. Cuts Deal Price by $23 Million to Close Sale to Lantern

A Weinstein Co. lawyer said Friday that the studio has agreed to reduce the proposed purchase price for the business by $23 million to close the sale of its film and television assets to private-equity firm Lantern Capital Partners.

 
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.

(END) Dow Jones Newswires

June 22, 2018 19:00 ET (23:00 GMT)

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