News Highlights: Top Company News of the Day
August 17 2018 - 11:15AM
Dow Jones News
Deere Considers Cost Cuts, Higher Prices
Deere reported strong demand in its construction and farming
markets in the latest quarter but said it would cut costs and raise
prices due to higher raw material and logistics expenses.
Foxconn Pursues Chip Ambitions With Plans for China Plant
Foxconn is making a new push into semiconductors, teaming up
with a local government in China's Pearl River Delta to build a
chip fabrication plant.
Nordstrom Deserves Better
Nordstrom has been bucking the doom-and-gloom in the retail
sector for some time. Success in both luxury and discount speaks to
Nordstrom's strength, which investors aren't giving it enough
credit for.
Panera Founder Backs Cava in Zoe's Kitchen Deal
Zoe's Kitchen has agreed to be acquired by Cava Group in a deal
valued at $250 million. Ron Shaich's Act III Holdings is set to
lead a 'significant' equity investment in Cava restaurants as part
of the deal.
Tesla Was Under Regulator Scrutiny Prior to Musk's Tweet
The SEC began investigating last year whether Tesla misled
investors about its Model 3 car production problems and subpoenaed
a parts supplier.
Google Defends Push Into China Amid Censorship Concerns
Google Chief Executive Officer Sundar Pichai defended to
employees the internet giant's controversial push to do more
business in China but said the company is "not close to launching a
search product" in the country.
Maersk to Spin Off Drilling Unit as Break Up Moves Forward
Maersk said it will seek a separate listing of its drilling unit
next year, aiming to generate cash proceeds of around $1.2 billion
by floating the entire unit.
Nvidia's Crypto Business Dries Up, Worrying Investors
Nvidia reported robust sales and profits during its second
quarter, but warned that revenue from products geared toward
cryptocurrency mining would be sharply weaker than expected.
Santander USA Released from 2015 Fed Enforcement Action
The Federal Reserve on Thursday released Santander Holdings USA
lnc. from oversight restrictions imposed in 2015, when the bank was
sharply rebuked for failing to meet regulatory standards across
several of its business operations.
DoorDash More Than Doubles Valuation to $4 Billion
DoorDash said it raised $250 million in a round of funding that
values the prepared food-delivery startup at $4 billion, more than
doubling its valuation for the second time in five months.
(END) Dow Jones Newswires
August 17, 2018 11:00 ET (15:00 GMT)
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