News Highlights: Top Company News of the Day
December 14 2018 - 5:30AM
Dow Jones News
LVMH Seals $2.6 Billion Deal for Hotel Operator Belmond
French luxury-goods company LVMH is close to a deal to acquire
Belmond, a London-based owner and operator of high-end hotels
around the world.
Sears Goes Under and Sales Go Up
The retailer, which has filed for bankruptcy protection,
attributed a 4.3% rise in comparable sales to liquidations at
stores that it is closing. Still, total revenue fell 23% and its
loss widened.
Lucy Peng to Step Down as CEO of Alibaba's Lazada
Longtime Alibaba executive Lucy Peng is stepping down as chief
executive of the e-commerce giant's Lazada Group after nine months
on the job.
Tencent's Roster of IPOs Doesn't Live Up to the Hype
Tencent Holdings, one of China's most influential companies, is
also one of the most active technology investors, backing some of
the world's biggest initial public offerings. But the technology
giant's support doesn't make these deals a sure thing for
investors.
Foreign Toys 'R' Us Businesses Win Approval of Chapter 11 Plan
Toys "R" Us Inc. and some foreign subsidiaries got approval
Thursday for their joint chapter 11 bankruptcy plan, which includes
the $760 million sale of the Asian business.
Battle Over Shareholder Suits Pulls In J&J
Johnson & Johnson is being drawn into a battle over how much
freedom shareholders have to sue companies, in a bid by lawsuit
opponents to force regulators to pick sides over investors' access
to the courts.
Adobe Raises Revenue Forecast
Adobe Systems Inc. is betting that sustained demand from U.S.
corporate customers and technology buyers in emerging markets will
drive another year of revenue growth above 20%.
New Treasury Rules Extend Tax Relief to Foreign Banks
The Treasury Department proposed rules to implement a piece of
last year's tax law known as the Base Erosion and Anti-Abuse Tax,
or BEAT. The rules define key terms and provide exceptions that
companies have been seeking.
Sales Rise at Costco, but Fall Short of Expectations
Costco Wholesale sales surged in its latest quarter, as the
warehouse chain continued to benefit from a strong economy and
shopper interest in everything from bulk toilet paper to discounted
branded clothes.
Volkswagen CFO: Cautious About Trade, Optimistic About China
Volkswagen's finance chief discusses the global challenges his
company faces, including the uncertainty surrounding trade disputes
and Brexit.
(END) Dow Jones Newswires
December 14, 2018 05:15 ET (10:15 GMT)
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