News Highlights: Top Company News of the Day
HSBC to Take $3 Billion in Losses on Sale of Troubled French Bank
A lender controlled by private-equity firm Cerberus will buy
HSBC's French retail operations for a symbolic price of one euro,
in a sign of the souring fortunes of European banking.
Credit Suisse Slashes Business With SoftBank and Masayoshi Son
The Swiss lender has backed away from lending to SoftBank and
founder Masayoshi Son, according to regulatory filings and people
familiar with the matter, as it tries to limit risk in the wake of
Greensill and Archegos collapses.
Stanley Black & Decker CFO Looking for Partnerships With Battery, Chip Makers
The company, which is best known for its power tools, is seeking
electric battery and computer chip makers that would agree to
supply components in return for an investment.
How Green Was My Tesla-and How Cheap?
Auto makers need to ensure their electric vehicles are actually
green. They also desperately need to bring down their cost.
Pursuing both goals at once is hard.
CVS and Walgreens Were Reeling From Pandemic, but Fortunes Have Changed
The drugstore chains say business generated by Covid-19
vaccinations is helping them recover from the pandemic's impact on
costs and revenue last year.
Energy Department Seeks to Keep Grant-Backed Technology Jobs in U.S.
"If the seed was planted here, the tree should grow here," said
Energy Secretary Jennifer Granholm.
Tesco Sales Growth Slows in First Quarter
Tesco's U.K. retail sales growth slowed to just 0.5% in the
first quarter, as the boost from the coronavirus lockdowns began to
fade, but the retailer maintained its profit outlook for the
U.S. FCC Proposes Fresh Ban on Equipment From Chinese Firms
The Federal Communications Commission has proposed new rules
that would prevent U.S. networks from using equipment made by
Chinese companies deemed as national security threats, including
Huawei and ZTE Corp.
Venture Capital's New Bet: Black Entrepreneurs
Investors increasingly seek out diversity among company
founders, leading to more support for Black-led funds and growing
appetite to back startups led by people from groups that venture
capital has historically overlooked.
Hospital Chain Got Help From Major Landlord as Losses Mounted
Medical Properties Trust helps private-equity firms profit from
hospital deals, but it is heavily exposed to struggling Steward
(END) Dow Jones Newswires
June 18, 2021 13:00 ET (17:00 GMT)
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