News Highlights: Top Company News of the Day

Date : 06/12/2019 @ 8:15AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Huawei Cancels Launch of New Laptop as U.S. Restrictions Sting 

China's Huawei Technologies canceled the launch of a new laptop and paused production at its personal-computer business due to restrictions on buying American components.

China Brokerage's $2 Billion Offering Kick-Starts London Stock Link 

Chinese brokerage Huatai Securities plans to raise as much as $2 billion selling London-listed share-backed instruments this week, reviving the postponed Shanghai-London Stock Connect program.

Deutsche Bank Warns Clients They Could Be Cut Off in Compliance Effort 

Deutsche Bank has given around 1,000 investment-banking clients a month or less to hand over company-ownership information and other documentation in the bank's protracted effort to close compliance gaps.

KKR to Buy Axel Springer for EUR6.8B 

KKR has agreed to buy German media group Axel Springer, offering shareholders EUR63 a share.

Inditex Ups Sales Forecast as Profits Rise 

Spanish fashion giant Inditex posted a 10% rise in first-quarter net profit and raised its forecast for annual sales growth.

France's Renault Role Limits Auto Maker's Boss 

In declining to back Fiat Chrysler's plan to merge with Renault, the French government risks weakening its chief negotiator in any future talks, Renault Chairman Jean-Dominique Senard.

Facebook Finds Itself on Receiving End of Fake Video 

An altered video of CEO Mark Zuckerberg has surfaced on the social-media company's Instagram app, where he appears to question his company's data practices.

Tesla Shareholders Reject Corporate-Governance Measures 

Tesla failed to pass corporate governance changes at the electric-car maker that its directors had proposed to give stockholders a greater voice in company matters.

99 Cents Only Stores Strikes Deal With Sponsors, Creditors 

Private-equity owners Ares Management Corp. and the Canada Pension Plan Investment Board have engineered two debt restructuring pacts in as many years for the discount retailer they purchased in 2012.

Ackman Opposes United Technologies-Raytheon Deal 

William Ackman, a big United Technologies shareholder who earlier pushed the industrial giant to streamline its business, is now urging the company to call off its planned megamerger with Raytheon, which he says makes no strategic sense.


(END) Dow Jones Newswires

June 12, 2019 03:00 ET (07:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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