News Highlights: Top Company News of the Day

Date : 06/17/2019 @ 10:15PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Boeing's New Long-Haul Jet Faces Delay 

General Electric is having to redesign an engine part for the Boeing 777X, meaning a delay for its first test flight and potentially for the first delivery of the long-haul passenger jet to customers.

San Francisco Fed Wants to Reward Banks for Climate-Change Loans 

The Federal Reserve Bank of San Francisco says banks can get extra credit for making loans that help communities adapt to climate change and prepare for future natural disasters.

Exxon, Chevron, Amazon Targeted by Investors Over Environmental Disclosures 

Some of the world's biggest companies are coming under fire from 88 investors with nearly $10 trillion in assets, including HSBC Global Asset Management and the Washington State Investment Board, for not providing standardized environmental disclosures.

Forget the Mall, Shoppers Are Buying Gucci at Airports 

Makers of luxury goods from liquor to perfume think they have found the antidote to the fading American shopping mall: airport terminals.

KPMG Agrees to Pay $50 Million Penalty Tied to Misconduct Allegations 

KPMG agreed to pay $50 million to settle allegations that former employees got an unlawful sneak peek at regulators' plans to inspect its work and auditors at the firm cheated on internal training exams.

Morgan Stanley Launches New Impact-Investing Portfolio Suite 

Morgan Stanley has bolstered its impact-investing offering with six new portfolios to meet heightened demand for sustainable investing.

Art Collector Patrick Drahi to Take Sotheby's Private in $2.7 Billion Deal 

French billionaire Patrick Drahi is buying Sotheby's for $2.7 billion, ending the storied auction house's 31-year run as a public company as it seeks to expand its digital business.

Pfizer to Buy Array BioPharma 

Pfizer agreed to buy Array BioPharma for $10.64 billion in cash, as the pharmaceutical company looks to expand its pipeline of cancer therapies.

Huawei Expects $30 Billion Revenue Hit From U.S. Clampdown 

The U.S. campaign against Huawei is taking a toll, with the company's founder forecasting a hit to revenue of about $30 billion over the next two years.

Airbus Jumps Ahead of Boeing in Midsize-Plane Battle 

European plane maker Airbus intends to develop its longest-range single-aisle plane yet, adding pressure on rival Boeing, which plans a jet for the same market but is distracted by its 737 MAX crisis.


(END) Dow Jones Newswires

June 17, 2019 17:00 ET (21:00 GMT)

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

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