News Highlights: Top Company News of the Day
August 17 2018 - 7:30AM
Dow Jones News
Foxconn to Build Semiconductor Plant in China's Pearl River Delta
Foxconn will work with the Chinese city of Zhuhai to build a
semiconductor plant.
A.P. Moeller-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, as the Danish freight
carrier continues to reshape itself into a global supply chain
player.
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.
Tesla Was Under SEC 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. Separately, regulators are asking board members
for details about their conversations with Elon Musk to take Tesla
private.
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.
Judge Rejects Large Parts of FTC Suit Against DirecTV
A federal judge rejected large parts of a nearly $4 billion
government lawsuit alleging satellite-TV giant DirecTV engaged in
deceptive advertising.
Nordstrom Deserves Better
Nordstrom has been bucking the doom-and-gloom sentiment 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.
'Peaky Blinders' Producers in Rights Dispute With Weinstein Co. Buyer
Producers of the British television series "Peaky Blinders" are
in a dispute over the U.S. rights to the show with the
private-equity firm that purchased Harvey Weinstein's bankrupt
studio.
(END) Dow Jones Newswires
August 17, 2018 07:15 ET (11:15 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.