News Highlights: Top Company News of the Day
August 16 2017 - 9:30AM
Dow Jones News
Target Posts Sales Increase, Raises Profit Outlook
Customers spent more at Target in its most recent quarter, as
the retailer embarked on a plan to refresh its interiors and cut
prices. The retailer also raised its profit outlook for the fiscal
year.
Apple Readies $1 Billion War Chest for Hollywood Programming
Apple has set a budget of roughly $1 billion to procure and
produce original content over the next year-a sign of how serious
the iPhone maker is about making a splash in Hollywood.
UnitedHealth Names David Wichmann as New CEO
UnitedHealth Group said its current president, David S.
Wichmann, will next month succeed Stephen J. Hemsley as chief
executive, a widely expected transition at the top of the nation's
largest health insurer.
Akzo Nobel, Elliott Make Peace After Protracted Spat
Akzo Nobel reached a truce with Elliott Management giving the
activist investor board representation following a monthslong
standoff over Elliott's push to force the Dutch chemicals company
into talks over a $28 billion takeover bid.
Uber Shareholders Fight for Control as Leadership Vacuum Weighs
The acrimony among Uber's investors spilled further into view
with a new letter from one shareholder alleging underhand tactics
by Benchmark Capital.
Fiat Chrysler Joins BMW-Led Self-Driving Car Tech Alliance
Fiat Chrysler said it's joining a BMW-led consortium to develop
self-driving car technology, a move that comes more than a year
after the group was formed with an aim of producing fully automated
vehicles by 2021.
Tencent, Alibaba in Group Buying 35% of China State-Owned Telecom
China's internet titans are among the companies joining in a
government-encouraged plan to pump $11.7 billion into state-owned
telecom giant China Unicom (Hong Kong).
Russian Ex-Minister Accuses Rosneft Oil Chief of Entrapment
A former Russian economy minister on trial for allegedly taking
a $2 million bribe accused the head of the state oil company of
entrapment, in the first hearing of a case that has raised
speculation about power plays at the highest levels of the
government.
Maersk Posts Surprise Loss, Warns of Cyberattack Impact
Danish shipping giant A.P. Moller-Maersk said it swung to a
surprise second-quarter loss, as it wrote down the value of its
tanker and ports assets, and warned of the impact of a major
cyberattack in June.
Chinese Crackdown Reopens Debate on Multilevel Marketing
A Chinese crackdown on pyramid schemes has reopened an old
debate about U.S. multilevel marketing firms like Herbalife, which
conduct a significant amount of business there.
(END) Dow Jones Newswires
August 16, 2017 09:15 ET (13:15 GMT)
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