News Highlights: Top Company News of the Day

Date : 01/21/2020 @ 6:15PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Mitsubishi Offices in Germany Raided in Diesel-Emissions Fraud Probe 

German authorities raided several facilities connected to the German subsidiary of Mitsubishi as part of a probe into allegations that the Japanese auto maker installed illegal emissions-management software on some diesel-powered vehicles sold in Germany.

Brazil Prosecutors File Charges Against Vale for Deadly Dam Collapse 

Brazil prosecutors have charged individuals at Vale and its German auditor with crimes in a 2019 dam collapse that killed 270 people, according to a person familiar with the matter.

Starbucks Pledges to Slash Water Use and Waste 

The company aims to serve more coffee in reusable cups, curb food and packaging waste, and build stores that make more efficient use of energy and water.

Engineering Firm McDermott to File for Bankruptcy 

McDermott International said that it will file for chapter 11 protection Tuesday, after succumbing to depressed conditions in the offshore drilling industry and setbacks in major energy projects.

BP Names New Finance Chief Ahead of CEO's Retirement 

Brian Gilvary will retire at the end of June and be succeeded by Murray Auchincloss, expanding changes to the company's leadership ahead of Chief Executive Bob Dudley's planned retirement.

UBS Stumbles as Switzerland's Largest Bank Lowers Its Targets 

UBS shares fell 5% after the bank missed its 2019 financial goals and lowered its targets to reflect tough market conditions.

Halliburton Swings to 4Q Loss on Impairments 

Oil-field services company Halliburton swung to a fourth-quarter loss as it booked impairments and other charges as well as lower revenue.

Tyson Scion to Lead Sustainability Push 

John R. Tyson, a member of Tyson's founding family, is calling on the meat industry to address issues like resource conservation and food waste.

New Ally Financial CIO Prioritizes AI 

The company's new chief information officer aims to update its financial tools with more innovations made possible by artificial intelligence, with security baked into the development process.

Prada and LVMH to Drop Leases as Hong Kong's Retail Sparkle Fades 

Hong Kong landlords, used to charging top dollar for flagship stores, are suddenly in flash-sale territory. Prime retail rents dropped in late 2019, as social unrest disrupted commerce, and rents in the glitziest enclaves are expected to fall again this year.


(END) Dow Jones Newswires

January 21, 2020 13:00 ET (18:00 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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