News Highlights: Top Company News of the Day
December 05 2019 - 1:15PM
Dow Jones News
Slack Gets Ahead of the News
At least give Slack Technologies credit for not ignoring the
elephant in the room. And Microsoft is an awfully big elephant.
Tiffany Dragged Down by Weak U.S. Demand
Tiffany reported flat quarterly sales as softness in the U.S.
market offset growth in mainland China, highlighting the challenges
LVMH faces once it takes over the famed American jeweler.
BlackRock Executive Ousted for Failing to Disclose Personal Relationship
Mark Wiseman, a potential heir to the top job at BlackRock, has
been ousted from the money-management giant for failing to disclose
a relationship with a colleague.
Saudi Aramco IPO Expected to Value Firm at $1.7 Trillion
Saudi Aramco is poised to price its initial public offering at
the high end of the targeted range to give the oil giant a total
value of $1.7 trillion in what would be the world's biggest-ever
IPO.
Moncler Downplays Reports of M&A Talks With Kering as Shares Soar
Moncler's main shareholder and chief executive Remo Ruffini
threw cold water on reports that the company has held exploratory
talks with French luxury-goods conglomerate Kering over a possible
deal.
Glencore Faces Bribery Probe
Britain's top financial cop said it is investigating Glencore
for alleged bribery, sending shares of the mining and trading giant
down almost 9%.
Sage Therapeutics Shares Plummet on Depression-Treatment Study Results
Sage Therapeutics' share price was cut in half, erasing more
than $4 billion in market value, after the company said an
experimental depression drug failed a Phase 3 trial.
United Airlines CEO to Step Down
United Airlines said Chief Executive Officer Oscar Munoz will
become executive chairman in May, with President Scott Kirby taking
the CEO post.
Fiat Chrysler Is Told to Pay $1.6 Billion in Italian Back Taxes
Italy is demanding unpaid taxes from Fiat Chrysler, in another
hit to the car maker as it tries to complete its merger with
Peugeot maker PSA Group while defending itself against a major
lawsuit from General Motors.
GM, LG to Spend $2.3 Billion on Electric-Car Battery Venture
General Motors and South Korea's LG Chem plan to build a large
battery-cell factory in Ohio, the latest example of auto makers
plowing money into electric cars.
(END) Dow Jones Newswires
December 05, 2019 13:00 ET (18:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.