News Highlights: Top Company News of the Day

Date : 06/19/2019 @ 4:15AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Venture Backers of Libra Look Beyond Its Facebook Ties 

Some of the venture capitalists backing Facebook's new cryptocurrency project are among the biggest critics of Big Tech. They are betting that Facebook's influence over Libra would decrease over time and that the technology would unlock new opportunities for startup businesses.

Amazon Rents More Jets to Expand Next-Day Delivery is expanding its domestic air-cargo operation, renting more small jets to link its distribution centers and extend the reach of its next-day delivery service.

U.S. Steel to Idle Two Furnaces 

U.S. Steel plans to cut production by idling two blast furnaces in response to falling demand for steel from a weakening manufacturing sector.

Blackstone's Schwarzman Gives Oxford Record Gift of $188 Million 

Stephen Schwarzman, the billionaire co-founder of the Blackstone Group, is giving GBP150 million ($188 million) to the University of Oxford to create a center for the humanities, which he hopes will help steer the ethical adoption of artificial intelligence.

Adobe Reports 25% Revenue Increase in Latest Quarter 

Adobe Systems reported higher-than-expected revenue in its second quarter, driven by an increase in its subscription software business.

Forever 21 Seeks Advice to Avoid Bankruptcy 

Teen retailer Forever 21 has hired restructuring advisers to help negotiate exits from stores and raise a new loan.

CBS Is Planning Offer for Sister Company Viacom 

CBS is preparing to make an offer for sister media company Viacom in the coming weeks, following a meeting of CBS directors last week in which a potential deal was discussed.

Deutsche Bank Senior U.S. Bankers Poised to Leave 

Two of Deutsche Bank's top New York deal makers are poised to leave the embattled lender ahead of impending deep cuts to its Wall Street investment bank.

Google Makes Housing Commitment Valued at $1 Billion 

Google said it would commit $1 billion to boost housing construction in the San Francisco Bay Area, the latest in a series of commitments by tech companies to address an affordability crisis in the region.

PG&E Reaches $1 Billion Settlement With Paradise, California Governments 

PG&E has agreed to pay $1 billion to a range of California cities, counties and other government entities to settle claims related to taxpayer losses caused by three devastating fires in the state.


(END) Dow Jones Newswires

June 18, 2019 23:00 ET (03:00 GMT)

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

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