News Highlights: Top Company News of the Day

Date : 03/15/2019 @ 7:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

SEC Charges VW, Ex-CEO Winterkorn With Defrauding U.S. Investors 

The SEC said it charged Volkswagen, two of its units, and former CEO Martin Winterkorn with defrauding U.S. bond investors.

Tesla's Musk Unveils Model Y SUV in Next Big Wager 

Elon Musk on Thursday night unveiled the Model Y compact sport-utility vehicle with an eventual starting price of $39,000, his next big bet for Tesla Inc. to appeal to a wider swath of electric car buyers.

Tesla CFO Moves to Rebuild Finance Team With New Accounting Chief 

Zach Kirkhorn on Thursday formally took the reins as CFO from Deepak Ahuja, a longtime confidant of Chief Executive Elon Musk who first joined Tesla in 2008. Tesla also named Vaibhav Taneja to the chief accounting officer post that has been vacant since September.

Former Mt. Gox Bitcoin Bigwig Is Found Guilty, Won't Likely Do Time 

The former chief of what was once the world's largest bitcoin exchange was found guilty by a Tokyo court on some charges but received a suspended sentence, meaning he probably won't have to serve time in prison.

Las Vegas Sands Settles Macau Dispute 

A years-old dispute over casino mogul Sheldon Adelson's entry into the high-stakes Macau market that Las Vegas Sands Corp. twice lost-and successfully appealed-came to an abrupt end Thursday.

British American Tobacco's Canadian Unit Files for Bankruptcy in U.S. 

British American Tobacco put one of Canada's top cigarette distributors into bankruptcy protection in the U.S. after that subsidiary, sued by Quebec smokers in 1998 for hiding health risks, was ordered to pay 9.2 billion Canadian dollars (US$6.9 billion).

Prominent Tech Investor Is Leaving Tiger Global 

Lee Fixel, one of the best-known investors in private technology companies, intends to leave Tiger Global Management after a 13-year run.

Boeing Halts 737 MAX Deliveries 

The plane maker suffered dual setbacks when it paused deliveries of its 737 MAX jet and an Air Force official raised concerns about one of Boeing's biggest military-plane programs.

TPG Fires McGlashan After College Admissions Scandal 

Private-equity firm TPG ousted William McGlashan Jr., founder of its growth investment unit and head of the firm's impact investment team, on Thursday after he was charged in this week's wide-ranging criminal college admissions scandal.

Hallmark Channel Fires Lori Loughlin in Wake of College-Admissions Scandal 

Hallmark Channel said it would no longer work with Lori Loughlin after she and her husband were charged with paying bribes to boost their two daughters' chances of getting into the University of Southern California.


(END) Dow Jones Newswires

March 15, 2019 03:15 ET (07:15 GMT)

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