News Highlights: Top Company News of the Day
August 17 2018 - 7:15PM
Dow Jones News
The Game Has Changed at Tesla
An SEC investigation means Tesla's precarious cash situation
could become critical in the coming months.
Oaktree Plans $1.5 Billion Bid for Bankrupt Claire's
Oaktree Capital Management is trying to put together a $1.5
billion bid for bankrupt teen retailer Claire's Stores Inc., a
lawyer for the junior noteholder said at a hearing Friday.
Purdue Pharma Hires Davis Polk for Restructuring Help
OxyContin maker Purdue Pharma has hired restructuring lawyers at
Davis Polk & Wardwell as it grapples with mounting litigation
over its alleged role in fueling the opioid epidemic.
Deere Reports Strong Demand Despite Tariff-Concerned Farmers
Deere reported higher earnings, saying that farmers are
continuing to buy equipment even as they worry about potential
tariffs on their products.
Get in Line: Backlog for Big Rigs Stretches to 2019
With freight demand red-hot, truck manufacturers expect to break
records for orders this year, and deliveries will reach deep into
next year.
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.
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.
Deutsche Bank's Surprise Bond Offer
The German bank launched an unexpected offer to buy bonds of
Noble Group, the embattled Singapore-listed commodity trader.
PNC Faces Probe Over Low-Income Tax Credits
Federal prosecutors are looking into how PNC Financial Services
Group Inc. purchased tax credits meant to fund housing for
low-income people, the bank said.
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.
(END) Dow Jones Newswires
August 17, 2018 19:00 ET (23:00 GMT)
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