News Highlights: Top Company News of the Day
September 25 2018 - 9:15AM
Dow Jones News
Michael Kors to Buy Versace in $2.1 Billion Deal
Michael Kors Holdings reached a deal to buy Italian fashion
house Gianni Versace as the U.S. conglomerate expands its global
fashion luxury group. Following the acquisition, the company will
change its name to Capri Holdings.
As Newell Sheds Brands, a Familiar Foe Circles
Newell Brands, the struggling conglomerate that is unloading
several household brands, could end up selling one of its oldest
businesses, the United States Playing Card Company, maker of
Bicycle playing cards.
Novartis to Cut 2,000 Jobs Amid Revamp
Novartis said it plans to cut more than 2,000 jobs as part of a
global restructuring, the latest move by its new chief executive to
refocus the pharmaceutical giant on higher-value drugs
SoftBank Leads $1 Billion Investment in Indian Hotel-Booking Startup
SoftBank Group is doubling down on one of its biggest bets in
India by leading a $1 billion investment in hotel-booking startup
OYO.
BMW Cuts 2018 Guidance
BMW said it cut its 2018 guidance, citing the effects of new
testing regulations in Europe, increased goodwill, and trade
tensions.
Instagram Co-Founders to Step Down From Facebook
The two co-founders of Facebook's popular Instagram app are
stepping down, a move marking continued tumult at the
social-networking giant.
Commodities Giant Louis Dreyfus Revamps Its Leadership-Again
Louis Dreyfus said it has appointed a new chief executive and
chief financial officer, marking a return of change at the top for
one of the world's largest commodities traders.
Google CEO to Meet With Top GOP Lawmakers
Google Chief Executive Sundar Pichai plans to appear at a
private meeting of top GOP lawmakers on Friday and again at a
public hearing this year, responding to new scrutiny of the
company's work with China, its market power and alleged bias in its
search results.
BNY Mellon to Wind Down Hedge-Fund Investment Unit
The Bank of New York Mellon Corp. plans to close a
fund-management subsidiary that invested in various hedge funds, as
demand for such investment vehicles wanes.
Boeing Wins Chopper Deal
Boeing secured a Pentagon contract worth up to $2.4 billion to
provide helicopters for protecting nuclear-missile bases. The
aerospace giant is awaiting the outcome of a larger deal to build
Air Force trainer jets.
(END) Dow Jones Newswires
September 25, 2018 09:00 ET (13:00 GMT)
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