News Highlights: Top Company News of the Day
February 19 2020 - 11:30PM
Dow Jones News
Victoria's Secret to Go Private at $1.1 Billion Valuation
L Brands Inc. is near a deal to sell control of Victoria's
Secret to a private-equity firm in a transaction that values the
lingerie brand at about $1.1 billion, according to people familiar
with the matter.
Petrobras Fourth-Quarter Net Income Almost Quadrupled
Brazilian oil giant PetrĂ³leo Brasileiro SA, or Petrobras, said
Wednesday that profit in the fourth quarter rose as new platforms
in the company's rich offshore fields boosted output and cut
production costs.
UBS CEO Ermotti Steps Down, ING's Hamers Named New Chief
UBS Group Chief Executive Sergio Ermotti is stepping down and
will be succeeded by current ING Groep boss Ralph Hamers, marking
another leadership change at a major Swiss bank.
Federal Judge Slams PG&E's Efforts to Prevent Wildfires
U.S. District Judge William Alsup lambasted PG&E Corp. for
falling behind on tree-trimming efforts near power lines to reduce
the risk that they will spark more wildfires.
France Deepens Probe of Ghosn
An investigation into spending authorized by Carlos Ghosn when
he was Renault CEO has been turned up a notch by French
prosecutors.
Investment Firm Buys Taxi-Medallion Loan Portfolio
An investment firm known for buying up distressed assets has
become the largest single owner of New York City taxi-medallion
loans.
GE, Stung by Boeing Pullback, Pitches for New Business With Airbus
General Electric is looking for new business from Airbus, as the
engine maker's other big customer, Boeing, retrenches.
More Investment Funds Reduce Ties With Sacklers
Two hedge funds are reducing their ties to the embattled family
that owns OxyContin maker Purdue Pharma.
Diageo Settles for $5 Million With SEC on Profit-Boosting Charges
Diageo has agreed to pay $5 million to settle charges brought by
the Securities and Exchange Commission that it hit performance
goals by pressuring distributors to buy products in excess of
demand.
Airbus Defense and Space in Talks With European Works Council Over Restructuring
Airbus said Wednesday that its defense-and-space division has
entered a consultation process with the European Works Council on
its planned restructuring.
(END) Dow Jones Newswires
February 19, 2020 23:15 ET (04:15 GMT)
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