News Highlights: Top Company News of the Day

Date : 03/13/2018 @ 3:30PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

In U.S.-China Tech Rivalry, Whose Side Is Qualcomm On? 

Qualcomm's strategic value to the U.S. saved it from a hostile takeover, but the mobile-chip giant is now at the center of an escalating tech rivalry between its home country and its biggest market: China.

Gun Maker Remington Plans to File for Bankruptcy Protection 

Remington, a gun manufacturer that private-equity owner Cerberus spent more than a decade building into an industry giant, is now on the brink of bankruptcy as it copes with a heavy debt load and volatile gun sales.

SL Green Sells Property to Prop Up Its Share Price 

SL Green is selling real-estate assets into the private market at high values and using the proceeds to buy back its own public shares at discounted prices.

San Miguel Aims to Raise Up to $3 Billion in Share Sale 

San Miguel is seeking to raise as much as $3 billion through a proposed share sale of its food-and-beverage business in the third quarter of this year.

GE's Top Executives Miss Out on Cash Bonuses for the First Time 

General Electric discloses its board withheld 2017 bonuses and canceled some 2015 equity awards that executives would have partly received.

Goldman Pushes Past Trading Roots With Executive Shift 

David Solomon became the heir apparent at Goldman Sachs after his main rival for the top job abruptly resigned, developments that show the Wall Street powerhouse is continuing to move beyond its trading roots.

Stitch Fix Stays in Fashion 

Styling company Stitch Fix continues to grow its revenue and clients, disproving skeptics, as it added 100,000 clients in its latest quarter.

Finnish State Investor Buys Nokia Stake 

Finnish state-owned investment firm Solidium has spent $1.04 billion since the beginning of the year to buy a 3.3% stake in Nokia.

Antofagasta's Earnings Soar 

Chilean miner Antofagasta said its net profit in 2017 rose more than four-fold, driven by an improved copper market and strong cost management.

Apple to Acquire Magazine-Subscription Service Texture 

Apple said it will acquire Next Issue Media and its digital-magazine-subscription service Texture, a product developed by top magazine companies that bundles together some 200 subscriptions into one monthly service.


(END) Dow Jones Newswires

March 13, 2018 11:15 ET (15:15 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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