News Highlights: Top Company News of the Day
June 18 2019 - 11:30PM
Dow Jones News
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
Amazon.com 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 23:15 ET (03:15 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.