News Highlights: Top Company News of the Day
May 16 2018 - 11:15AM
Dow Jones News
Macy's Shows Signs of Life After Prolonged Slump
After closing dozens of unprofitable stores, Macy's reported
higher sales at those locations still open amid the first signs
that the department store giant is pulling out of a prolonged
slump.
Canada Ready to Compensate Kinder Morgan for Pipeline Losses
Canada said the government is prepared to compensate Kinder
Morgan for losses it sustains on its proposed Trans Mountain
pipeline expansion fueled by "politically-motivated" delays.
Disney Weighs Pixar Co-Founder's Return After Concerns on Behavior
Executives at Walt Disney have discussed bringing animation guru
John Lasseter back to the company in a new role that would reduce
his managerial power but allow him to retain creative
influence.
Games and Mobile Payments Power Tencent Earnings
Tencent blew past expectations, reporting a 61% increase in net
profit in the first three months of the year on the strength of
mobile games and other digital content, and its fast-growing mobile
payments business.
Zoetis to Buy Abaxis for $2 Billion
Animal-health company Zoetis has agreed to buy Abaxis, a maker
of veterinary-diagnostics equipment, in a deal valued at about $2
billion.
Sports-Betting Companies Race to Expand After Supreme Court Decision
With potentially billions of dollars in new revenue at stake,
companies such as Churchill Downs, FanDuel and Paddy Power Betfair
are racing to expand their sports betting operations after the
Supreme Court's struck down limits.
Novartis Top Lawyer Departs Over Cohen Payments
A top executive at Swiss drugmaker Novartis is stepping down as
the global fallout widens from the recent disclosure of payments to
a company owned by U.S. President Donald Trump's longtime
lawyer.
Oil Companies Look to Profit at the Pump
Major oil companies are doubling down on gas stations,
refineries and processing plants, betting on a once-unloved part of
the energy business to shore up profits and expand their customer
bases.
GM's Next Battle With Ford: Really Big Pickups
The business of big work trucks is bigger than ever, opening up
a new front in the market-share battle between GM and Ford, which
dominate the production of these multitasking pickups.
Amazon Prime's Latest Perk: Discounts at Whole Foods
Amazon.com is offering new discounts for Prime members shopping
at its Whole Foods grocery stores, adding another perk to its
membership program after a 20% price hike.
(END) Dow Jones Newswires
May 16, 2018 11:00 ET (15:00 GMT)
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