News Highlights: Top Company News of the Day
May 22 2019 - 5:15PM
Dow Jones News
GE to Revisit Financial-Services Unit After Fixing Power Division
Larry Culp, General Electric's chief executive, plans to set his
sights on the company's problematic financial-services business
after he cuts overall debt and stabilizes its power-generation
division.
Huawei Executive Accused by U.S. Startup of Involvement in Trade-Secrets Theft
CNEX Labs, a chip startup backed by Microsoft Corp. and Dell
Technologies, has accused a senior executive at Huawei Technologies
of participating in a conspiracy to steal its trade secrets,
according to a court filing.
Qualcomm Shares Hit by Ruling on Antitrust Violation
Qualcomm unlawfully suppressed competition in the market for
cellphone chips and used its dominant position to exact excessive
licensing fees, a judge ruled in a decision that could shake up the
smartphone industry. Qualcomm shares fell more than 10%.
Nascar Founding Family Strikes Deal to Take Speedway Operator Private
The company that owns Nascar auto-racing venues has agreed to go
private, an effort by the family that has long controlled and
promoted the motor sport to better position it amid heightened
competition for fans.
Lowe's Cuts Outlook as Profit Gets Squeezed
Lowe's outpaced rival Home Depot in sales growth for the first
time since 2016, but margins fell more than expected and the
home-improvement retailer trimmed its profit expectations for the
year.
Deutsche Bank Finds Flaw in System That Tracks Suspicious Activity
Deutsche Bank found a glitch in computer systems that
retroactively scan corporate clients' transactions for suspicious
activity, a sign of trouble in efforts to guard against potential
money laundering by clients.
Target Sales Boosted by Store Remodels, Digital Shift
Target said sales and profit rose at the start of the year, as
improvements to its stores, products and digital capabilities
attracted more shoppers.
Avon Nears Sale to Brazil's Natura Cosmeticos
Avon Products is close to a sale to Brazil's Natura Cosmeticos
in a deal that would mark the end of the independence of a
20th-century business icon.
Harley-Davidson Tries Revving Up Sales With Loans
Harley-Davidson is using loans to reach new riders that are
younger and less wealthy than the baby boomers who drove its sales
in recent decades.
Huawei Feels U.S. Squeeze in U.K., Japan as Partners Curb Business
Chip designer Arm is suspending business with Huawei and major
mobile-phone carriers in Japan and the U.K. are holding off on new
Huawei phones in the face of U.S. restrictions on the Chinese
company.
(END) Dow Jones Newswires
May 22, 2019 17:00 ET (21:00 GMT)
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