News Highlights: Top Company News of the Day
December 12 2018 - 3:15PM
Dow Jones News
GM CEO Is Under Fire From Trump, Lawmakers Over Restructuring
General Motors Chief Executive Mary Barra faces bipartisan anger
in Washington over the company's plans to cut 14,800 jobs and close
four plants despite robust profits and a strong economy.
Lowe's Adds $10 Billion to Stock Buyback Program
Lowe's plans to increase its share buyback program by $10
billion, as the home-improvement retailer looks to turn investor
sentiment and prove to Wall Street its business and growth plans
are on solid footing.
P&G Buys Walker to Expand Offerings to African-Americans
Procter & Gamble agreed to acquire Walker & Co. as the
consumer-products giant looks to serve more African-Americans with
health and beauty products.
Tencent Music Opens Higher in Trading Debut
Tencent Music Entertainment Group, one of the biggest initial
public offerings in the U.S. in recent years, opened above its IPO
price in its trading debut.
China's Detention of Canadian Seen as Retaliation for Huawei Arrest
Beijing's detention of a former Canadian diplomat is being seen
by friends and former colleagues as payback for Canada's arrest of
a well-connected Chinese telecommunications executive at the behest
of the U.S.
Bausch Health Agrees to Buy Synergy Pharmaceuticals for $200 Million
Synergy Pharmaceuticals filed for bankruptcy with a plan to sell
its assets to Bausch Health Companies for about $200 million in
cash.
Walmart, Express Scripts Extend Prescription-Services Agreement
Walmart and pharmacy-benefit manager Express Scripts have
extended their network agreement to provide access to Walmart's
prescription services for Express Scripts clients' covered
members.
Elliott Takes Big Stake in Pernod, Maker of Absolut, Chivas Regal
Activist hedge fund Elliott Management has built a roughly $1
billion stake in Pernod Ricard, calling on the owner of Chivas
Regal whisky and Absolut vodka to shake up management to jump-start
lagging profit margins.
Credit Suisse to Buy Back up to $3 Billion in Shares
Swiss lender Credit Suisse moved to shore up confidence among
investors by launching a share buyback of up to 3 billion francs
over the next two years, as it confronts a steep drop in its share
price.
Warburg Pincus Plans $1 Billion Property Joint Venture in China
Private-equity firm Warburg Pincus and a Chinese partner plan to
plow $1 billion into distressed properties in China's
megacities.
(END) Dow Jones Newswires
December 12, 2018 15:00 ET (20:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.