News Highlights: Top Company News of the Day

Date : 11/15/2017 @ 12:15AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Retail Chain Forever 21 Warns of Data Breach 

Forever 21 Inc. said Tuesday that unauthorized users may have gained access to its payment systems, potentially exposing the credit-card information of customers who shopped in some of the fashion retailer's stores.

HSBC to Pay $352 Million to Resolve French Probe 

HSBC said its Swiss private-banking unit will pay EUR300 million ($352 million) to resolve charges that it helped clients evade taxes in France.

Wells Fargo Trims Small-Business Card-Processing Unit 

Wells Fargo laid off about 50 employees as it continues to restructure its credit-card processing business geared toward small-business customers, a bank spokeswoman said.

GE Shares Have a Second Bad Day 

General Electric Co. shares tumbled 5.9% on Tuesday, causing the conglomerate to lose its crown as the biggest U.S. industrial company as Wall Street digests a turnaround plan announced Monday.

Witness Says Fox Sports Paid Bribes to Win Rights to Soccer Tournaments 

A Fox Sports executive signed a phony contract in January 2008 with an Argentine media company to facilitate $3.7 million in bribes to Latin American soccer executives, according to evidence presented Tuesday in the FIFA corruption trial in New York.

Women's Apparel Retailer Fashion to Figure Seeks Bankruptcy Protection 

Plus size women's apparel chain Fashion to Figure has become the latest retailer to seek bankruptcy protection with plans to sell itself to a pair of liquidators.

TJX Breaks Eight-Year Sales Growth Streak 

TJX, which operates TJ Maxx, Marshalls and HomeGoods stores, didn't increase its same-store sales for the first time since 2009.

Foxconn's Profit Down 39% Amid iPhone Production Woes 

Foxconn Technology Group, the world's largest contract manufacturer of electronics, posted a 39% drop in quarterly net profit amid production challenges dogging the flagship product of its biggest customer, Apple Inc.

CFTC Fines Norway's Statoil, Citing Market Manipulation 

The U.S. Commodity Futures Trading Commission said Tuesday that it fined Norway's Statoil ASA $4 million for attempting to manipulate energy markets in 2011.

Paris Scoffs at Airbnb Plan to Curb Illegal Rentals 

Airbnb plans to curb rentals of some of its most popular listings in the French capital, expanding its bid to placate regulators in the U.S. and Europe-but not enough to satisfy some city officials here.


(END) Dow Jones Newswires

November 14, 2017 19:00 ET (00:00 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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