News Highlights: Top Company News of the Day

Date : 07/16/2019 @ 12:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

L Brands CEO Les Wexner Says He Didn't Know About Jeffrey Epstein's Behavior 

L Brands founder and longtime CEO Leslie Wexner said he wasn't aware of his former money manager Jeffrey Epstein's alleged criminal behavior, breaking his silence on the matter to say that his "heart goes out to each and every person who has been hurt."

Judge Cuts $55 Million From $80 Million Roundup Verdict 

A federal judge cut down by $55 million a verdict tying Bayer's Roundup weedkiller to cancer, as the company continues to battle thousands of similar claims throughout the U.S.

LVMH Buys Minority Stake in Stella McCartney House 

LVMH Möet Hennessy Louis Vuitton bought a minority stake in the British fashion house set up by Stella McCartney, giving the French luxury company a high-profile vehicle to tap growing demand for high-end clothing marketed as sustainable.

IKEA to Close Its Only U.S. Factory 

IKEA is closing its only manufacturing site in the U.S., shifting the operations to Europe where the furniture company says production costs are lower.

Judge to Weigh $17 Billion Opioid Case Against Johnson & Johnson 

Attorneys for the state of Oklahoma urged a judge to hold Johnson & Johnson responsible for the state's opioid epidemic and make the company pay more than $17 billion.

Facebook Faces Bipartisan Resistance to Cryptocurrency Plans 

U.S. officials ranging from Treasury Secretary Steven Mnuchin, a Republican, to Rep. Maxine Waters, the Democratic chairwoman of a powerful House committee, came out swinging against Facebook's Libra project.

The Amazon Prime Day Deal That Walmart and Target Can't Match 

The Prime Day event is another way to tighten Amazon's grip on shoppers by getting them to enroll in its Prime membership program, which adds an important revenue stream and loyal customers.

Blackstone Close to Deal to Buy CRH Division 

Global buyout firm Blackstone Group is in advanced talks to buy the European distribution arm of CRH, one of the world's largest building-materials suppliers.

Unilever Uses Virtual Factories to Tune Up Its Supply Chain 

The consumer-goods company is building virtual versions of its factories, using data streaming from sensor-equipped machines to create digital models that can track physical conditions and enable testing of operational changes.

Charles Schwab in Talks to Buy USAA Wealth-Management, Brokerage Units 

Charles Schwab is in talks to buy brokerage and wealth-management operations from USAA for roughly $2 billion, a move that would push the discount-brokerage pioneer further into financial advice.


(END) Dow Jones Newswires

July 15, 2019 19:15 ET (23:15 GMT)

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

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