News Highlights: Top Company News of the Day

Date : 05/23/2019 @ 2:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Bill Would Aid U.S. Telecom Carriers Hit by Huawei Ban 
 

Lawmakers introduced legislation that would provide up to $700 million to help U.S. telecom carriers remove equipment purchased from Huawei and other Chinese companies deemed a security risk.

 
L Brands Lifts Outlook on Strength of Bath & Body Works 
 

Victoria's Secret owner L Brands raised its profit outlook for the year as the retailer beat overall sales targets in the latest quarter thanks to Bath & Body Works.

 
Natura to Buy Avon for $2 Billion 
 

Natura Cosmeticos said it has reached an agreement to buy Avon Products in an all-stock deal valued at about $2 billion.

 
Huawei Executive Accused by U.S. Startup of Involvement in Trade-Secrets Theft 
 

CNEX Labs, a chip startup backed by Microsoft Corp. and Dell Technologies, has accused a senior executive at Huawei Technologies of participating in a conspiracy to steal its trade secrets, according to a court filing.

 
PG&E Clings to Sole Control of Its Bankruptcy Through September 
 

PG&E will stay in control of its bankruptcy proceeding until Sept. 29, less time than it wanted, but long enough to find out what California lawmakers will do this year about wildfire liabilities facing the state's largest utility.

 
GE to Revisit Financial-Services Unit After Fixing Power Division 
 

Larry Culp, General Electric's chief executive, plans to set his sights on the company's problematic financial-services business after he cuts overall debt and stabilizes its power-generation division.

 
Deutsche Bank Finds Flaw in System That Tracks Suspicious Activity 
 

Deutsche Bank found a glitch in computer systems that retroactively scan corporate clients' transactions for suspicious activity, a sign of trouble in efforts to guard against potential money laundering by clients.

 
Qualcomm Shares Hit by Ruling on Antitrust Violation 
 

Qualcomm unlawfully suppressed competition in the market for cellphone chips and used its dominant position to exact excessive licensing fees, a judge ruled in a decision that could shake up the smartphone industry. Qualcomm shares fell more than 10%.

 
Nascar Founding Family Strikes Deal to Take Speedway Operator Private 
 

The company that owns Nascar auto-racing venues has agreed to go private, an effort by the family that has long controlled and promoted the motor sport to better position it amid heightened competition for fans.

 
Lowe's Cuts Outlook as Profit Gets Squeezed 
 

Lowe's outpaced rival Home Depot in sales growth for the first time since 2016, but margins fell more than expected and the home-improvement retailer trimmed its profit expectations for the year.

 
 

(END) Dow Jones Newswires

May 22, 2019 21:15 ET (01:15 GMT)

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


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