News Highlights: Top Company News of the Day
August 21 2018 - 11:30PM
Dow Jones News
Facebook Pulls Hundreds of Fake Accounts
Facebook Inc. dismantled a new set of influence campaigns
originating in Russia and Iran designed to sow division in global
politics, part of the social-media company's broader purge of bad
actors on its site.
La-Z-Boy Reports Jump in Sales
La-Z-Boy Inc. reported better-than-expected sales for its
recently completed quarter, helped in part by price increases.
Merrill Latest Brokerage to Downplay Money-Market Mutual Funds
Starting Sept. 4, Bank of America Corp.'s Merrill Lynch
brokerage unit will no longer sweep its customers' cash into
money-market mutual funds, moving it instead into deposits at
affiliated banks.
Benchmark Capital Stays Lean, Even After $14 Billion Bonanza
In an era when venture-capital firms are raising megafunds in
the billions of dollars, Benchmark Capital-one of the
best-performing investors-is resisting the temptation to go
big.
Coty Feels Strain of $12 Billion Bet on P&G Beauty Business
Nearly two years after Coty paid $12 billion to acquire Procter
& Gamble's beauty business, the deal remains a drag on the
struggling beauty giant. Weak performance of former P&G brands,
including names like CoverGirl makeup and Clairol hair dye, weighed
on sales in the most recent quarter.
Uber Fills CFO Job, Vacant Since 2015
Ride-hailing giant Uber named Nelson Chai as its first chief
financial officer in more than three years, tapping a veteran
banking and insurance executive as next year's planned IPO
looms.
Brookfield Making Over GGP Malls With New Businesses and Tenants
Brookfield Property Partners had to overcome vocal GGP
shareholder opposition last month to convince stockholders to
approve its $15 billion takeover of the mall owner. That may prove
to be the easy part.
Videogames' Epic Shootout Coming This Fall
This fall the industry will launch a series of major
first-person shooters, while "Fortnite" is poised to begin a new
season. That may prove to be a bit too much action for some game
publishers.
American Airlines Pares International Flights
American Airlines is cutting some unprofitable international
flights after fuel prices rose. Service to Shanghai, Munich and
Toronto will be affected.
JPMorgan To Offer Free Trading for Bank Customers
The bank is rolling out a new investing service for customers
that will offer at least 100 free stock trades for one year.
(END) Dow Jones Newswires
August 21, 2018 23:15 ET (03:15 GMT)
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