News Highlights: Top Company News of the Day
January 18 2019 - 5:15PM
Dow Jones News
Airbnb Has Held Talks to Buy Hotel Tonight
AirbnbInc. has held talks to acquire hotel-booking site Hotel
Tonight Inc. as the home-sharing company seeks to bolster its
offerings and make itself more attractive to investors ahead of an
eventual IPO, according to people familiar with the
negotiations.
Schlumberger Says Shale Boom is Slowing
U.S. shale production is poised to slow this year as drillers
reduce their budgets in response to lower oil prices, the head of
the oil-field services company said.
State Street Is Cutting 1,500 Jobs
Aiming to trim some $350 million in expenses this year, State
Street said it would shed about 1,500 employees in a plan designed
to help weather tough market conditions.
Lilly's Sarcoma Drug Combo Proves Ineffective in Trials
Eli Lilly said it would stop promoting Lartruvo, a relatively
new cancer drug, after a study found it didn't significantly
prolong the lives of patients when used in combination with an
older drug.
Tesla to Slash More Jobs in Effort to Lower Model 3 Price
Tesla is cutting its full-time workforce by 7% to help lower
costs so it can sell the Model 3 sedan at a lower price. Shares
fell 9%.
German Forklift Maker Kion Plans U.S. Expansion to Avoid China Tariffs
Germany's Kion Group plans to expand its factory in Summerville,
S.C., in a move to escape a 25% tariff the U.S. levied on forklifts
imported from China.
PBGC Taking Steps to Assume Responsibility for Sears Pension Plans
The Pension Benefit Guaranty Corp. said Friday it is taking
steps to assume responsibility for Sears Holdings's two defined
benefit pension plans for employees and retirees at Sears and
Kmart, which cover about 90,000 people.
Longtime iHeart Bondholders Settle Fight in Bankruptcy
Longtime iHeartMedia bondholders who were the last major
holdouts to the radio-station operator's proposed bankruptcy
reorganization plan have dropped their objections to the
balance-sheet restructuring in return for a bigger equity
stake.
Beauty Brands Is Evaluating Founders' Going Concern Offer
Beauty Brands LLC is evaluating an offer to sell 23 of its
stores to the founders of the private equity-backed retail
chain.
CVS Health Settles Pricing Fight With Walmart
CVS Health and Walmart settled their fight over the cost of
filling prescriptions, averting a threatened split
(END) Dow Jones Newswires
January 18, 2019 17:00 ET (22:00 GMT)
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