News Highlights: Top Company News of the Day
Hong Kong Stock Exchange Launches Bid for London Rival
The $36.6 billion offer would unite two of the world's major
trading hubs when both are under severe political pressure, with
Hong Kong reeling from a summer of violent protests and London
gripped by political paralysis.
Bank Bounce May Not Stick
A leap in Treasury yields has markets behaving as if the worst
is over for banks. But lenders still face a number of bad choices
at the moment.
PG&E Shouldn't Leave Its Heart in San Francisco
The city's offer for parts of the bankrupt utility wouldn't
solve much for PG&E, and California's other residents have a
lot to lose. San Francisco's own power consumers should be wary as
Charles Schwab Plans Layoffs as Falling Interest Rates Hurt Profit
Charles Schwab is cutting about 600 jobs, as it deals with the
impact of lower interest rates.
Sonos Can Pump Up the Volume
The embattled speaker maker's stock is hot again, but its
valuation still leaves room for gains.
Apple Undercuts Rivals With Streaming Price
Apple revealed a trio of upgraded iPhones, including a
lower-priced model, and detailed its plans to enter the
increasingly competitive video-streaming market with an offering
that is cheaper than rivals.
GE to Give Up Majority Control of Baker Hughes
General Electric is giving up majority control of Baker Hughes,
selling shares in the oil-field services firm that will raise about
$3 billion cash but trigger a more-than-$7-billion accounting
China's Anbang to Sell Hotels for More Than $5.8 Billion
China's Anbang agreed to sell luxury hotels for more than $5.8
billion even as a California individual had secretly created a
series of fake deeds to transfer ownership for up to a half-dozen
of the properties.
Reliance Nippon Life Asset to Launch $190 Million Fund This Month
India's Reliance Nippon Life Asset Management plans to launch a
$190 million fund of venture capital funds around the end of
September, said an executive of the firm's new majority owner,
Nippon Life Insurance Co.
JPMorgan CEO Dimon Raises Specter of Zero Rates
The biggest bank in the U.S. is starting to prepare for how to
make money if interest rates in the U.S. drop to zero.
(END) Dow Jones Newswires
September 11, 2019 09:15 ET (13:15 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.