News Highlights: Top Company News of the Day
October 12 2017 - 1:15PM
Dow Jones News
J.P. Morgan's Profits Up on Lending Boost
J.P. Morgan said its third-quarter profit rose as a boost from
lending offset weaker trading results for the nation's biggest bank
by assets.
GM to Idle Detroit Car Factory Amid Slow Demand
General Motors plans to close a Detroit factory through the end
of the year and deepen production cuts to slow-selling cars the
plant manufactures, idling some workers and letting go others in
response to weak sales.
Citigroup's Profits Rise, Buoyed by Cost Cuts
Citigroup boosted third-quarter profit by slashing expenses,
even as it grappled with challenges in its credit-card
business.
HSBC Names John Flint as Chief Executive
HSBC Holdings named retail head John Flint as its next chief
executive, signaling continuity in the Asia-focused bank's
strategy.
Goldman Sachs to Buy House-Flipping Lender
Goldman Sachs is acquiring Genesis Capital, a private Los
Angeles firm that backs investors seeking to buy, renovate and
quickly sell single-family homes, according to people familiar with
the matter.
Facebook to Disclose Targets of Russia-Backed Election Ads
Facebook will disclose the types of people targeted by
Russian-backed ads during and after the 2016 presidential election,
as operating chief Sheryl Sandberg said the social-media site was
manipulated in a way it shouldn't have been.
Cord-Cutters Sap AT&T's TV Business
AT&T Inc. continues to lose pay-TV customers despite a wave
of new subscribers to its streaming service, a trend that could
spell trouble for the broader entertainment industry.
New York AG Eric Schneiderman Probing Deloitte Hack
The New York attorney general's office is looking into the
cyberbreach at Deloitte that the giant accounting firm says
compromised information on a small number of its clients.
Air Berlin Collapse Kicks Off European Airline Consolidation
Airline consolidation that has helped U.S. carriers boost
profits is gaining pace in Europe's fractured aviation sector where
Air Berlin said it was selling part of its assets to larger rival
Deutsche Lufthansa.
Danish Bank Under Probe in France Over Magnitsky Money-Laundering
A French judge is investigating Danske Bank for allegedly
laundering stolen Russian money identified by deceased
whistleblower Sergei Magnitsky, according to a former hedge-fund
manager leading an international campaign for sanctions against
Russia.
(END) Dow Jones Newswires
October 12, 2017 13:00 ET (17:00 GMT)
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