News Highlights: Top Company News of the Day
October 17 2017 - 5:15AM
Dow Jones News
U.S. Justice Department Gets Involved in Kobe Steel Metal Scandal
Kobe Steel said it received a request from the Justice
Department to hand over information related to substandard products
sold to customers in the U.S., raising the specter of legal
action.
Uber Likely to Reach a Deal With SoftBank in One Week
Uber is likely to reach a resolution within a week in talks with
SoftBank over pricing for a complicated investment deal that could
give the Japanese company a sizable stake, an Uber board member
said.
GM to Test Fleet of Self-Driving Cars in New York
GM plans to become the first company to test self-driving cars
in New York City, a a move aimed at asserting leadership in the
race to develop autonomous cars and a potentially important step
toward commercializing the technology.
NBCUniversal and Snap Team Up to Produce Content for Snapchat
NBCUniversal and Snap Inc. are teaming up to produce content for
Snapchat, in an effort to stake a claim in a crowded market where
both traditional media companies and cash-flush tech firms are
vying to create original shows.
New Jersey Offers $7 Billion in Incentives to Lure Amazon to Newark
New Jersey is making a high-dollar pitch for Newark to become
Amazon.com Inc.'s second headquarters, offering up to $7 billion in
state and city tax incentives.
Facebook Buys TBH, a Teen-Targeted Anonymous Poll App
Facebook, which is trying to make inroads with younger users,
said Monday that it bought TBH, an anonymous polling app that has
become an overnight sensation among teens.
Verizon FiOS Stops Carrying Univision
Spanish-language broadcaster Univision has gone dark in Verizon
FiOS homes Monday afternoon as the two sides have been unable to
come to terms on a new distribution agreement.
Netflix Needs to Keep Feeding the Beast
Netflix investors covet growth above all other metrics, so
shares shrugged off the new spending forecast after the company
once again saw a strong jump in streaming subscribers for the third
quarter.
Rio Tinto Reduces Mined Copper Guidance
Rio Tinto has scaled back its forecast for mined copper this
year after delays in the planned ramp-up of production at the
part-owned Escondida operation in Chile's Atacama Desert.
Redstone's Ex-Companion Sues His Daughter, Grandson
Manuela Herzer, a former companion of Sumner Redstone, has sued
his daughter and grandson for more than $100 million, alleging they
effectively ran a criminal enterprise to illegally spy on her and
oust her from the media mogul's life.
(END) Dow Jones Newswires
October 17, 2017 05:00 ET (09:00 GMT)
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