News Highlights: Top Company News of the Day
June 18 2019 - 9:30AM
Dow Jones News
Facebook Unveils Libra, Cryptocurrency Rival to Bitcoin
Facebook formally announced plans to launch a cryptocurrency
called Libra, promising a secure blockchain-based payment system
backed by hard assets and designed for mainstream users.
Boeing Ends Order Drought Triggered by 737 MAX Crisis
Boeing ended a two-month drought of orders for its airliners in
the wake of the grounding of its 737 MAX fleet by securing a
commitment from Korean Air and Air Lease Corp. to buy 787
Dreamliners.
Private-Equity Firms Are Raising Bigger and Bigger Funds. They Often Don't Deliver.
So-called megafunds of $10 billion or more have performed
roughly in line with the S&P 500.
Apple Looks Willing to Help Struggling iPhone-Display Maker
Japan Display, which makes liquid-crystal display panels for the
iPhone XR, is running out of cash owing to weaker-than-expected
sales of the handset, and an investor group's bailout package of
more than $700 million was thrown into limbo this week.
Fortress Becomes Japan's Biggest Private Apartment Landlord With $1 Billion Bet
Fortress Investment Group is buying dated units on the outskirts
of big Japanese cities-and in the process it has become the largest
private owner of apartments in Japan.
Cerberus Hunts for Yield in Mongolia
New York-based Cerberus Capital Management is in talks to make
its first investment in Mongolia as part of a broader push into the
world's riskiest markets.
Deutsche Bank Senior European Equities Banker Edward Sankey to Leave
Senior Deutsche Bank banker Edward Sankey is leaving after
almost 15 years, as planned cuts to the lender's beleaguered
equities business and the broader investment bank take a toll.
McKinsey Says Disclosure Payout Could Benefit Its Employees
Some of the $15 million McKinsey is paying to resolve
allegations of inadequate conflict-of-interest disclosures in large
corporate bankruptcies could end up in the pockets of the firm's
own employees because of its extensive investment holdings.
Sports Illustrated Operating Rights Sold
Authentic Brands and Maven are pursuing discussions with
Meredith for it to continue to operate certain aspects of the
Sports Illustrated business, but the deal isn't contingent on
reaching an agreement with Meredith.
Target Outages Illustrate Retail's Growing Tech Complexity
The technical problems at Target stores over the weekend
illustrate the challenge of unifying a large retailer's technology
infrastructure with its bricks-and-mortar presence and underscore
the importance of having trusted vendors and backup plans.
(END) Dow Jones Newswires
June 18, 2019 09:15 ET (13:15 GMT)
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