Facebook Unveils Libra, Cryptocurrency Rival to Bitcoin

Facebook formally announced plans to launch a cryptocurrency called Libra, promising a secure blockchain-based payment system backed by hard assets and designed for mainstream users.

 
Boeing Ends Order Drought Triggered by 737 MAX Crisis

Boeing ended a two-month drought of orders for its airliners in the wake of the grounding of its 737 MAX fleet by securing a commitment from Korean Air and Air Lease Corp. to buy 787 Dreamliners.

 
Private-Equity Firms Are Raising Bigger and Bigger Funds. They Often Don't Deliver.

So-called megafunds of $10 billion or more have performed roughly in line with the S&P 500.

 
Apple Looks Willing to Help Struggling iPhone-Display Maker

Japan Display, which makes liquid-crystal display panels for the iPhone XR, is running out of cash owing to weaker-than-expected sales of the handset, and an investor group's bailout package of more than $700 million was thrown into limbo this week.

 
Fortress Becomes Japan's Biggest Private Apartment Landlord With $1 Billion Bet

Fortress Investment Group is buying dated units on the outskirts of big Japanese cities-and in the process it has become the largest private owner of apartments in Japan.

 
Cerberus Hunts for Yield in Mongolia

New York-based Cerberus Capital Management is in talks to make its first investment in Mongolia as part of a broader push into the world's riskiest markets.

 
Deutsche Bank Senior European Equities Banker Edward Sankey to Leave

Senior Deutsche Bank banker Edward Sankey is leaving after almost 15 years, as planned cuts to the lender's beleaguered equities business and the broader investment bank take a toll.

 
McKinsey Says Disclosure Payout Could Benefit Its Employees

Some of the $15 million McKinsey is paying to resolve allegations of inadequate conflict-of-interest disclosures in large corporate bankruptcies could end up in the pockets of the firm's own employees because of its extensive investment holdings.

 
Sports Illustrated Operating Rights Sold

Authentic Brands and Maven are pursuing discussions with Meredith for it to continue to operate certain aspects of the Sports Illustrated business, but the deal isn't contingent on reaching an agreement with Meredith.

 
Target Outages Illustrate Retail's Growing Tech Complexity

The technical problems at Target stores over the weekend illustrate the challenge of unifying a large retailer's technology infrastructure with its bricks-and-mortar presence and underscore the importance of having trusted vendors and backup plans.

(END) Dow Jones Newswires

June 18, 2019 09:15 ET (13:15 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.