News Highlights: Top Company News of the Day
June 18 2018 - 9:15PM
Dow Jones News
Senate Rebukes Trump With Vote to Reinstate ZTE Sales Ban
ZTE lost a skirmish with U.S. lawmakers when the Senate passed
legislation that would reinstate a ban on sales of U.S. components
to the Chinese telecommunications company.
Australia Court Orders Apple to Pay Penalty for Service Breach
An Australian court ordered Apple Inc. to pay a penalty
equivalent to $6.7 million after the tech giant "bricked" iPhones
and iPads and didn't offer to fix them because they had been
previously serviced by third-party providers.
Wells Fargo to Restructure Wealth Management Business
Wells Fargo is expected to announce a restructuring of its
wealth management business, as it grapples with probes tied to
client referrals and related matters.
JPMorgan to Pay $65 Million Fine for Dollar Benchmark Manipulation
JPMorgan Chase agreed to pay a $65 million fine to settle claims
that it tried to manipulate a global interest rate benchmark, the
latest fine levied by U.S. regulators to punish crisis-era
manipulation schemes by large banks.
Los Angeles Times Names Pearlstine as New Editor After Sale to Billionaire
Publishing industry veteran Norman Pearlstine was named the
executive editor of the Los Angeles Times as its new billionaire
owner pledged to invest in the newspaper.
Fujifilm Sues Xerox for More Than $1 Billion After Canceled Merger
Fujifilm Holdings is suing Xerox for breach of contract and
estimated damages of more than $1 billion after the printer and
copier company walked away from a planned merger.
Audi CEO Arrested in Emissions-Cheating Probe
The CEO of Volkswagen's luxury brand Audi was arrested in
connection with an investigation of his role in the German car
maker's diesel emissions-cheating scandal.
Supreme Court to Consider Apple Appeal in Lawsuit Over iPhone App Prices
The Supreme Court announced it will hear an Apple appeal
challenging the propriety of a lawsuit brought by consumers who
allege that the company illegally monopolized the sale of iPhone
apps.
Disney Tests Pricing Power at Theme Parks
After raising some ticket prices for its theme parks by more
than 20% over the past five years, Walt Disney will set a new
benchmark this week when it offers die-hard fans the chance to
attend a six-hour preview of a new attraction at Disneyland-for
$299.
Google Invests $550 Million in Chinese Online Shopping Site JD.com
Google's $550 million investment in JD.com will deepen its ties
with China and strengthen its foothold in online shopping.
(END) Dow Jones Newswires
June 18, 2018 21:00 ET (01:00 GMT)
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