News Highlights: Top Company News of the Day

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

News Highlights: Top Company News of the Day

PricewaterhouseCoopers Settles With FDIC Over Failed Bank Audits 

The Federal Deposit Insurance Corp. said it reached a $335 million settlement with PricewaterhouseCoopers related to its audits of Colonial Bank, a financial institution that failed during the financial crisis.

Auditor of Vale's Burst Dam Faces Questions Over Other Dam Reviews 

The German auditor of a collapsed Brazilian dam has informed the dam's owner, Vale SA, that an external review panel has raised questions about its assessment of eight other dams in Brazil, according to a person familiar with the matter.

Helicopter Company PHI Lands in Bankruptcy for 'Breathing Spell' 

Helicopter-services provider PHI Inc. said its bankruptcy filing late Thursday will give it a "breathing spell" from $500 million in debt that came due Friday and that it continues to explore options to reorganize, including negotiating with bondholders.

Ford Slashes More Than 5,000 Jobs in Germany, Targets More Cuts Across Europe 

Ford Motor Co. is to cut more than 5,000 jobs in Germany and an undetermined number of jobs in the U.K., a company spokeswoman said Friday, after the company launched plans to redefine its struggling European business earlier this year.

Apple Defends App Store Against Spotify's Claims 

Apple defended its practice of taking a 30% cut of sales through its App Store following criticism from Spotify, escalating a fight between the tech companies as regulators increasingly scrutinize the industry.

Amazon Tests Pop-Up Feature Touting Its Cheaper Products tested a pop-up feature on its app that in some instances pitched its private-label goods on rivals' product pages, an experiment that shows the e-commerce giant's aggressiveness in hawking lower-priced products including its own house brands.

Facebook, YouTube, Twitter Scramble to Remove Video of New Zealand Mosque Shooting 

Scenes of the mosque shooting in New Zealand were streamed live on Facebook and posted on YouTube and Twitter, in a gruesome example of how social media platforms still can be used to spread terror.

Interserve Sold to Lenders After Investors Reject Rescue Plan 

UPDATED 2:29 PM ET: Interserve said that administrators have sold the group's business and assets to a new entity controlled by lenders, hours after shareholders rejected a rescue plan.

Air Canada Suspends 2019 Guidance After Boeing 737 MAX Grounding 

Air Canada said it is suspending certain financial guidance, marking the first big carrier to signal a possible financial hit because of the grounding of the Boeing 737 MAX.

Activist Seeks Seat on Marriott's Board 

Activist investor Land & Buildings is seeking a seat on Marriott International's board, according to people familiar with the matter, and believes the world's biggest hotel company should narrow its brand portfolio.


(END) Dow Jones Newswires

March 15, 2019 15:15 ET (19:15 GMT)

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