News Highlights: Top Company News of the Day
November 14 2019 - 11:30AM
Dow Jones News
Wells Fargo's General Counsel, Former Interim CEO Parker to Leave
Wells Fargo & Co. said Thursday its general counsel who
recently served a stint as interim chief executive, C. Allen
Parker, will leave to pursue other opportunities.
Walmart Sales Rise; E-Commerce Efforts Get a Lift From Food
Walmart said sales rose in the most recent quarter, a sign that
the retailer continues to take market share from competitors and
benefit from strong consumer spending ahead of the holiday shopping
season.
Daimler Warns on Profits, Aims to Cut Labor Costs
The Mercedes-Benz maker plans to cut more than 1,000 executive
positions as part of an attempt to reduce labor costs by $1.1
billion by 2022, but warned that this and efforts to meet stricter
emission targets would dent profits for the next two years.
Viacom Earnings Fall on Lower Revenue, Streaming Investments
Viacom's profit in the last quarter of its fiscal year fell as a
combination of lower revenue and increased investment in new online
streaming services weighed in on its bottom line.
Yahoo-Line Merger Plan Raises Hopes for Japanese 'Super App'
Investors welcomed plans for a merger to create an
internet-services giant in Japan controlled by SoftBank founder
Masayoshi Son, but Yahoo Japan and chat app Line face challenges
combining their businesses.
Uber Challenges Los Angeles's Suspension of Its Scooters
The company has requested a hearing with Los Angeles officials
after the city suspended its permit to rent out electric scooters
over a data-sharing dispute.
Burberry's New Look Is Fully Priced
Investors are lavishing praise on Burberry for modest sales
growth in a booming luxury market. A comparison with where Gucci
was at the same phase of its revamp is less flattering.
For Ethical Investors, Oil Isn't Aramco's Only Problem
Can an oil and gas company count as a sustainable or ethical
investment? In Saudi Aramco's case, the obvious question of its
carbon emissions may not even be the main problem for the
increasing numbers of investors who focus on environmental, social
and governance criteria.
Icahn Backs Xerox's Big Bid, Reveals Stake in Target HP
Activist investor Carl Icahn is pushing for the proposed merger
of Xerox and HP. He revealed a stake in HP that could increase
pressure for a tie-up.
Daimler Outlook Disappoints
Daimler plans to cut jobs and save more than EUR1 billion in
personnel costs over the next three years but the luxury car
maker's profitability outlook disappointed analysts and its stock
fell.
(END) Dow Jones Newswires
November 14, 2019 11:15 ET (16:15 GMT)
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