News Highlights: Top Company News of the Day
June 19 2018 - 11:30PM
Dow Jones News
GE Drops Out of the Dow After More Than a Century
General Electric will drop out of the Dow Jones Industrial
Average next week, a milestone in the decline of a firm that once
ranked among the mightiest of U.S. blue-chips.
Vitol Launches Australia's Biggest IPO in Years
Commodities trader Vitol Group is revving up a listing of its
Australian fuel supply and marketing business, seeking to raise up
to US$2.26 billion in what would be the biggest initial public
offering locally in years.
Starbucks to Close More Stores Amid Glut of Coffee Shops
Starbucks Corp. said it will close more stores in the
increasingly crowded U.S. market where it was a pioneer.
Bank of America to Pay $42 Million to Settle SEC Electronic-Trading Charges
Bank of America Merrill Lynch will pay $42 million for
misleading clients by routing orders to high-speed trading firms
without telling the customers, the Securities and Exchange
Commission said Tuesday.
Ford and Volkswagen Discuss Developing Vehicles Together
Ford Motor Co. and Volkswagen AG are exploring how they could
work together to better compete globally as cars become more
technologically advanced and customer expectations evolve.
McKinsey Investments Weren't Disclosed in Bankruptcy Cases
Its retirement fund invested in hedge funds with financial
interests in six bankrupt companies the consulting firm was
advising.
PayPal Agrees to Buy Payments Firm Hyperwallet for $400 Million
PayPal said it agreed to acquire fintech company Hyperwallet for
about $400 million, augmenting its offerings at a time when the
company is facing increased competition from banks, startups and
tech companies.
Ford Buys Historic Train Station in Detroit for Redevelopment
Ford Motor Co. has purchased a long-abandoned train station in
Detroit and is planning to redevelop it as a technology hub for
electric and autonomous cars.
Harvester of Facebook Data Wants Tighter Controls Over Privacy
An academic who was central to the misuse of Facebook data
sought to turn the tables on internet companies by saying the
government should step in to help prevent data-privacy scandals in
the future.
Verizon, AT&T, Sprint to Cut Off Data Providers After Customer Locations Were Revealed
Verizon Communications, AT&T and Sprint pledged to stop
sharing customer locations with two data brokers after at least one
company revealed individuals' whereabouts without their
consent.
(END) Dow Jones Newswires
June 19, 2018 23:15 ET (03:15 GMT)
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