News Highlights: Top Company News of the Day

Date : 08/10/2018 @ 11:30PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Wrangler Owner Looks to Exit Jeans Business 

VF Corp., owner of Lee and Wrangler jeans, is exploring strategic options for its denim business that could include a sale or spin off of the classic American brands.

Venezuela to Appeal Court Ruling Authorizing Citgo Seizure 

Venezuela's state oil company plans to appeal a U.S. ruling that would allow one of the country's creditors to seize a major source of dollars-Citgo Petroleum.

FDA Approves First Drug Based on 'Gene-Silencing' Research 

The U.S. Food and Drug Administration on Friday approved the first drug that combats disease by silencing the genes driving it, the newest technology transforming the arsenal of medicines. The cost: $450,000 annually, or $345,000 after rebates.

On Facebook, New Rules to Protect Organizations' Profile Pages 

Facebook said it is instituting new rules intended to improve the reliability of the information found on the public profiles for businesses and communities.

Tesla Board's Independence Faces Tough Test 

Elon Musk's surprising buyout idea for Tesla puts the spotlight on its board members, most of whom have close business or personal relationships with the electric-car company's leader.

GAM to Liquidate $7.3 Billion of Funds After Trader's Suspension 

Swiss money manager GAM said it would liquidate $7.3 billion of its funds following the suspension of a top bond fund manager last week.

As BMW Blazes Mount, South Korea Counsels Caution 

South Korea urged owners of recalled BMWs to take their vehicles for urgent safety checks after dozens of vehicle fires were reported, which BMW has largely blamed on a faulty exhaust component.

ISS Backs Cigna-Express Scripts Deal 

Carl Icahn's effort to find enough allies to block Cigna's $54 billion proposed purchase of Express Scripts got a little harder Friday after proxy-advisory firm Institutional Shareholder Services recommended shareholders support the deal.

Goldman Sachs Lures Merger Master From Rival JPMorgan 

Goldman Sachs has poached a top JPMorgan deal maker, continuing a hiring spree that has brought more than a dozen outsiders into the Wall Street powerhouse's upper ranks in the past few months.

U.S. Autos Get Left Behind as China's Tariff Cut Boosts Europe, Japan 

Auto makers exported a record $7.4 billion worth of vehicles to China last month, as European and Japanese companies took advantage of a tariff cut that excludes their U.S. counterparts.


(END) Dow Jones Newswires

August 10, 2018 19:15 ET (23:15 GMT)

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