News Highlights: Top Company News of the Day

Date : 05/15/2019 @ 10:30PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Trump Telecom Ban Takes Aim at China, Huawei 

President Trump signed an executive order that allows the U.S. to ban telecommunications network gear and services from foreign adversaries, in a measure widely believed to be aimed at China and telecom companies including Huawei Technologies and ZTE.

Cisco's Revenue Rises as Investors Weigh Possible Tariff Effects 

Networking giant Cisco Systems reported quarterly results that beat Wall Street targets despite higher tariffs from a U.S.-China trade clash.

Regulator Vows Scrutiny of Next Wells Fargo Chief Executive 

Comptroller of the Currency Joseph Otting told lawmakers Wednesday his agency will vet the lender's next chief executive.

WNBA Hires Deloitte CEO as Commissioner 

Cathy Engelbert, the first woman to lead one of the Big Four U.S. accounting firms, will take the WNBA job ahead of labor talks that could financially reshape the U.S. women's professional basketball league.

Alibaba, Tencent Post Robust Results 

China's two biggest internet companies are continuing to boom, even as the Chinese economy slows, but Tencent and Alibaba are looking to new businesses to sustain their staggering growth.

U.S. Poised to Let Phone Companies Block Robocalls 

Responding to widespread consumer complaints, the FCC says it will take steps to give phone companies permission to block unwanted robocalls.

American Express Buys Restaurant-Reservation Platform Resy 

American Express has agreed to buy a company that helps customers reserve tables at high-end bars and restaurants, the latest effort in its push to link cardholders with perks-offering partners.

Alibaba Posts Higher Sales, Forecasts Slowing Growth 

Chinese online-retailing giant Alibaba posted a 51% increase in sales for both the fourth quarter and fiscal year ended March 31, but forecast only a 33% revenue jump for the next year, in one of the first signs of slowing growth.

WeWork to Buy CEO's Properties That Spurred Conflict Concerns 

Chief Executive Adam Neumann plans to sell the properties he owns and leases to the office-space company, a move to eliminate a potential conflict of interest ahead of an expected initial public offering.

Cloud Over Xilinx Should Dissipate 

The chip maker is likely to be one of the few bright spots in a rough semiconductor market this year.


(END) Dow Jones Newswires

May 15, 2019 17:15 ET (21:15 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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