News Highlights: Top Company News of the Day
October 17 2019 - 5:15AM
Dow Jones News
Nestlé to Refresh Bottled-Water Business as Sales Turn Flat
Nestlé will overhaul its bottled-water arm, hoping to
reinvigorate growth in a business hurt by rising competition, high
costs and growing concerns about single-use plastic.
Unilever Cuts Prices as Shampoo Rivalry Grows
Unilever said it was forced to lower prices in the U.S. to
compete in the shampoo market with its rival Procter & Gamble,
as the owner of Dove and TRESemmé reported slower third-quarter
revenue growth compared with a year earlier.
Citigroup Names Peter Babej as CEO for Asia-Pacific Region
Mr. Babej, previously the global head of the bank's financial
institutions group, will transition into the role immediately,
Citigroup said.
Pernod Ricard Sales Growth 'Moderate'
Pernod Ricard said organic sales grew 1.3% during the first
quarter and confirmed that profit from recurring operations should
hit its 5%-7% target in 2020.
Ericsson Boosted by 5G Expansion
Ericsson lifted its sales and margin targets after posting
strong momentum in its business as operators in the U.S. and North
East Asia forge ahead with their 5G network spending.
BHP Output Down on Maintenance Work
said production of commodities including iron ore, coal and
petroleum fell 1% in the first quarter, mainly because of planned
maintenance work.
Authentic Brands Teams With Saks to Bid for Barneys
Barneys New York reached a deal to sell its assets to Authentic
Brands Group and investment firm B. Riley Financial and close the
luxury chain's remaining stores.
Alcoa Plans Up to $1 Billion in Asset Sales Amid Growth Fears
The aluminum producer may close facilities over the next few
years as it grapples with slowing economic growth.
IBM Earnings Fall in Prolonged Sales Slump
IBM's profit fell 38% as it suffered its fifth consecutive
quarter of lower sales.
Netflix Subscribers Fall Slightly Short of Expectations
Netflix missed its subscriber target for the second consecutive
quarter, raising questions about the company's ability to fend off
competition from traditional media giants who are entering the
market with rival services.
(END) Dow Jones Newswires
October 17, 2019 05:00 ET (09:00 GMT)
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