News Highlights: Top Company News of the Day
December 11 2017 - 1:30PM
Dow Jones News
3M Sells Optical Fiber Business to Corning for $900 Million
Corning agreed to buy almost all of 3M's optical fiber and
copper cable business for $900 million.
Mattel Warns of Weak Holiday Quarter, Two Weeks Before Christmas
Mattel warned of another gloomy holiday season as key brands
continue to struggle and toy retailers tighten the amount of
inventory they're willing to buy upfront.
Icahn to Nominate Four to Xerox Board
Xerox said that former Icahn Capital Managing Director Jonathan
Christodoro resigned from its board so that investor Carl Icahn's
organization could nominate four directors at Xerox's annual
meeting in 2018.
Software Firm Settles U.S. Security Probe
A telecom software company will resolve a criminal investigation
of its use of uncleared Russian nationals working on a U.S. defense
project by implementing a security plan that U.S. officials hope
will be an industry model.
App Maker Halts Initial Coin Offering After SEC Investigation
The Securities and Exchange Commission intervened to halt a $15
million initial coin offering that would have evaded laws for how
securities must be sold.
In New NFL Deal, Verizon Trades Mobile Exclusivity for Rights on Yahoo
Verizon Communications will no longer have the exclusive mobile
rights to distribute the games to its wireless customers, but the
$2 billion deal will expand the partnership to Verizon-owned
platforms like Yahoo Sports.
Celebrity Chef Mario Batali Accused of Sexual Misconduct
Celebrity chef and television host Mario Batali stepped down
from the day-to-day operations of his restaurant-management company
following sexual-misconduct allegations.
Startup Affirm Gets Investment from GIC and a Valuation Nearing $2 Billion
Financial-technology startup Affirm Inc. said Monday that it
raised $200 million in new equity as it battles larger players
getting into its core business of lending to consumers for retail
purchases.
SoftBank to Invest More in OneWeb
Japan's SoftBank Group has agreed to invest roughly $500 million
more in satellite broadband provider OneWeb, according to a person
familiar with the details.
HSBC to Be Released From U.S. Deferred Prosecution Agreement
HSBC is to be released from a controversial agreement that let
it avoid U.S. criminal charges in 2012, after it was judged to have
sufficiently improved its systems to keep out financial
criminals.
(END) Dow Jones Newswires
December 11, 2017 13:15 ET (18:15 GMT)
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