News Highlights: Top Company News of the Day

Date : 05/23/2019 @ 4:15AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

FAA Acting Chief Won't Predict When 737 MAX Will Return to Flight 

Acting Federal Aviation Administration chief Daniel Elwell appeared to undermine industry expectations that Boeing's grounded 737 MAX jets would be heading toward a smooth and predictable return to the skies.

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.

SpaceX Rockets Were Imperiled by Contractor's Falsified Reports, Prosecutors Say 

An engineer at an upstate New York company who was responsible for ensuring the quality of parts for Elon Musk's space venture has been charged with falsifying inspection reports.

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.

British Steel Enters Liquidation, Citing Hit From Brexit Uncertainty 

The U.K. High Court placed British Steel into compulsory liquidation after the steel maker failed to obtain last-minute rescue funds from the government.

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.


(END) Dow Jones Newswires

May 22, 2019 23:00 ET (03:00 GMT)

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

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