News Highlights: Top Company News of the Day

Date : 05/17/2018 @ 5:30PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Redstones Win a Round in CBS Fight 

CBS lost the first round in a battle to break free from its controlling shareholder after a judge denied its request for a temporary restraining order against the Redstone family that would have enabled the company to strip the family of its voting power.

Wells Fargo Altered Information on Business Customers' Documents 

The alterations by employees in a Wells Fargo unit that handles business banking again raises questions about the bank's risk-management practices.

Store Changes Help Walmart, Macy's, but J.C. Penney Falls Further Behind 

A strong U.S. economy and recent store improvements are helping Walmart Inc., Macy's Inc. and many other big retail chains recapture revenue they have lost to online shopping.

FDA Calls Out Drug Makers That Improperly Block Generic Competition 

The Food and Drug Administration took the aggressive step of publicly exposing drug companies it says may be gaming the system by improperly blocking competition from generics.

BJ's Wholesale Files for IPO 

BJ's Wholesale Club Holdings Inc. filed for an initial public offering Thursday, in a move that is relatively rare for a retailer recently.

The Novartis-Cohen Connection Explained 

The controversy involving payments received by Michael Cohen, President Donald Trump's personal attorney, spread across the Atlantic in mid-May, with the disclosure that Swiss pharma giant Novartis had paid a total of $1.2 million to a company used by Mr. Cohen for what Novartis called advice on "health-care policy matters." Dow Jones explains.

Fox News Names Suzanne Scott its First Female CEO 

Suzanne Scott, the longtime programming chief of Fox News, has been named chief executive of the top-rated cable news channel in an executive reorganization.

YouTube to Launch New Music-Streaming Service Tuesday 

An ad-supported version of YouTube Music will be free, while an ad-free version, YouTube Music Premium, will cost $9.99 a month.

China Approves Toshiba's $18 Billion Sale of Its Memory-Chip Unit 

China has approved Bain Capital's $18 billion deal to acquire Toshiba's memory-chip unit, a gesture of goodwill from Beijing as it tries to stave off U.S. trade penalties.

Kroger Turns to U.K. Online Grocer to Lift Its Digital Business 

Kroger Co. has struck a deal with a British grocer known for its use of robots to supercharge its online delivery business as the biggest U.S. grocery chain works to fend off and Walmart Inc.


(END) Dow Jones Newswires

May 17, 2018 13:15 ET (17:15 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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