News Highlights: Top Company News of the Day
December 13 2018 - 7:30PM
Dow Jones News
Sears Goes Under and Sales Go Up
The retailer, which has filed for bankruptcy protection,
attributed a 4.3% rise in comparable sales to liquidations at
stores that it is closing. Still, total revenue fell 23% and its
loss widened.
Battle Over Shareholder Suits Pulls In J&J
Johnson & Johnson is being drawn into a battle over how much
freedom shareholders have to sue companies, in a bid by lawsuit
opponents to force regulators to pick sides over investors' access
to the courts.
Adobe Raises Revenue Forecast
Adobe Systems raised revenue targets for 2019, saying it now
expects to deliver about $11.15 billion in revenue and its
high-margin digital-media business to add about $1.45 billion of
recurring revenue.
Sales Rise at Costco, but Fall Short of Expectations
Costco Wholesale sales surged in its latest quarter, as the
warehouse chain continued to benefit from a strong economy and
shopper interest in everything from bulk toilet paper to discounted
branded clothes.
Foreign Toys 'R' Us Businesses Win Approval of Chapter 11 Plan
Toys "R" Us Inc. and some foreign subsidiaries got approval
Thursday for their joint chapter 11 bankruptcy plan, which includes
the $760 million sale of the Asian business.
New Treasury Rules Extend Tax Relief to Foreign Banks
The Treasury Department proposed rules to implement a piece of
last year's tax law known as the Base Erosion and Anti-Abuse Tax,
or BEAT. The rules define key terms and provide exceptions that
companies have been seeking.
Starbucks to Offer Coffee Delivery Across U.S.
Starbucks plans to expand coffee delivery across the U.S. with
UberEats as part of a broader strategy to try to reach more
customers.
Investor Paulson Deposes Five Detour Gold Board Members
The hedge fund veteran scored a win in his six-month proxy
battle with Canadian mining company Detour Gold by overthrowing the
bulk of its board.
Whole Foods, Instacart Go Separate Ways
The move comes as the grocery store's owner Amazon is trying to
expand its own delivery services.
Deutsche Bank Faces Fresh Calls for Scrutiny in Congress
Two Democratic senators called for an investigation into
Deutsche Bank, citing probes into the German lender's activities in
Russia and its role in recently surfaced money-laundering
probes.
(END) Dow Jones Newswires
December 13, 2018 19:15 ET (00:15 GMT)
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