News Highlights: Top Company News of the Day
October 15 2018 - 5:15AM
Dow Jones News
Bank of America Is Missing Out on Wall Street's Boom
Bank of America's purchase of Merrill Lynch was supposed to make
it a top-flight global investment bank. A decade later, it is
struggling to make good on that promise.
Home-Builder Stocks Primed for Key Test
Beaten-down home-builder shares face a key test this week when
investors get a fresh look at data on housing starts, existing-home
sales and building permits.
Sears Files for Chapter 11 Bankruptcy
Sears filed for bankruptcy protection from creditors, marking
the collapse of a company that dominated American retailing for
much of the 20th century.
Sears, Lenders Nearing Deal to Keep Some Stores Open
Sears Holdings is inching closer to a deal with lenders about a
bankruptcy plan that would close at least 150 stores and provide a
lifeline loan to keep a small footprint of around 300 locations
open.
JPMorgan CEO Backs Out of Saudi Business Conference
James Dimon has decided not to attend Saudi Arabia's marquee
business conference amid questions about the disappearance of
journalist Jamal Khashoggi.
Fiber Damage Vexes Verizon After Hurricane Michael
The storm in Florida caused extensive damage to the fiber that
underpins the carrier's wireless network, hurting efforts to
restore service.
Harris, L3 Technologies Announce Merger Plan
Harris Corp. and L3 Technologies announced plans to combine in
the largest-ever defense merger, reacting to Pentagon efforts to
get companies to boost investment and speed the development of
weapons.
SoftBank Gives Startups Billions of Reasons to Hold Off IPOs
If SoftBank secures a majority stake in eight-year-old WeWork
through its Vision Fund, the move would likely keep the shared
office-space company private for years to come, employing what one
venture capitalist calls "a holding-company philosophy."
China's Most Popular Liquor Has Western Aspirations
A producer of baijiu, a high-alcohol beverage favored by the
Chinese, hopes it will become trendy among Americans.
Rising Rates Not a Worry for Big Banks
Third-quarter earnings from JPMorgan, Citigroup and Wells Fargo
showed the U.S. economy is performing well as consumer credit
expands.
(END) Dow Jones Newswires
October 15, 2018 05:00 ET (09:00 GMT)
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