News Highlights: Top Company News of the Day
December 13 2018 - 05:30AM
Dow Jones News
Apple Plans Wave of New Sites, Including an Austin Campus
Apple said it plans to invest $1 billion to build a new campus
in Austin, Texas, and will open new offices in Seattle, San Diego
and Culver City, Calif.
Samsung Downsizes China Operations With Factory Closure
Samsung Electronics will close a Chinese smartphone factory in
the next two weeks, a retrenchment that comes as the South Korean
technology giant shifts manufacturing to India and its sales
flounder in China.
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.
Guggenheim Creates Loan Fund for Retail Investors
Guggenheim Partners launched its first ever fund to invest in
loans to midsized companies targeted at retail investors.
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.
Tailored Brands Trims Outlook
Tailored Brands Inc. lowered its outlook for the year after
sales at its Men's Wearhouse business softened last month.
Justice Department Closes Criminal Investigation of SeaWorld
The Justice Department has closed a criminal investigation into
SeaWorld Entertainment over its response to a 2013 film that
criticized the company's treatment of killer whales and caused its
attendance and stock to drop.
Cryptocurrency Startup Settles Fraud Accusations
One of the first startups sued by U.S. regulators over its
initial coin offering will pay $2.3 million after being accused of
scamming investors through claims such as building a cryptocurrency
bank.
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.
U.K. Electricity-Network Operator National Grid Names CFO
U.K. natural-gas and electricity-network operator National Grid
appointed interim Chief Financial Officer Andy Agg as permanent
finance chief.
(END) Dow Jones Newswires
December 13, 2018 05:15 ET (10:15 GMT)
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