Two Snap Executives Pushed Out After Probe Into Inappropriate Relationship 
 

Snap in recent weeks pushed out two senior executives after an investigation found that one of them had allegedly engaged in an inappropriate relationship with an outside contractor.

 
Morgan Stanley CEO Earned $29 Million in 2018 
 

Chief Executive James Gorman received a compensation package valued at about $29 million in 2018, a 7% raise from the $27 million he earned a year ago.

 
Airbnb Has Held Talks to Buy Hotel Tonight 
 

Airbnb has held talks to acquire hotel-booking site Hotel Tonight, as the home-sharing company seeks to bolster its offerings and make itself more attractive to investors ahead of an eventual IPO.

 
Schlumberger Says Shale Boom is Slowing 
 

U.S. shale production is poised to slow this year as drillers reduce their budgets in response to lower oil prices, the head of the oil-field services company said.

 
State Street Is Cutting 1,500 Jobs 
 

Aiming to trim some $350 million in expenses this year, State Street said it would shed about 1,500 employees in a plan designed to help weather tough market conditions.

 
Lilly's Sarcoma Drug Combo Proves Ineffective in Trials 
 

Eli Lilly said it would stop promoting Lartruvo, a relatively new cancer drug, after a study found it didn't significantly prolong the lives of patients when used in combination with an older drug.

 
Tesla to Slash More Jobs in Effort to Lower Model 3 Price 
 

Tesla is cutting its full-time workforce by 7% to help lower costs so it can sell the Model 3 sedan at a lower price. Shares fell 13%.

 
German Forklift Maker Kion Plans U.S. Expansion to Avoid China Tariffs 
 

Germany's Kion Group plans to expand its factory in Summerville, S.C., in a move to escape a 25% tariff the U.S. levied on forklifts imported from China.

 
PBGC Taking Steps to Assume Responsibility for Sears Pension Plans 
 

The Pension Benefit Guaranty Corp. said Friday it is taking steps to assume responsibility for Sears Holdings's two defined benefit pension plans for employees and retirees at Sears and Kmart, which cover about 90,000 people.

 
Longtime iHeart Bondholders Settle Fight in Bankruptcy 
 

Longtime iHeartMedia bondholders who were the last major holdouts to the radio-station operator's proposed bankruptcy reorganization plan have dropped their objections to the balance-sheet restructuring in return for a bigger equity stake.

 
 

(END) Dow Jones Newswires

January 18, 2019 19:15 ET (00:15 GMT)

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