News Highlights: Top Company News of the Day

Date : 01/14/2020 @ 2:30PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Investment Banking Propels Citigroup's Profit 
 

The New York bank said fourth-quarter profit rose 15% and beat expectations on a surge in its investment banking operations.

 
MGM Resorts Nears Deal to Sell MGM Grand, Mandalay Bay 
 

MGM Resorts International is nearing an agreement to sell the MGM Grand and Mandalay Bay resorts and casinos on the Las Vegas Strip to a joint venture that includes private-equity and real-estate giant Blackstone Group.

 
Wells Fargo's Results Sink on Legal Reserves 
 

Wells Fargo's quarterly earnings dropped 53% to $2.87 billion. Per-share earnings of 60 cents missed the $1.12 expected by analysts polled by FactSet.

 
JPMorgan Profit Jumps on Strong Trading Quarter 
 

JPMorgan Chase, the nation's largest bank, reported a 21% jump in quarterly profit, boosted by a surge in its investment bank and continued consumer strength.

 
As Justice Department Pressures Apple, Experts Say iPhone Easier to Crack 
 

The escalation of a long-running encryption conflict between the Justice Department and Apple has puzzled security experts who say that new hacking tools have made it possible to gain access to many of the company's devices in criminal investigations.

 
Delta's Profit Rises on Strong Demand and Cheaper Fuel 
 

Delta said lower fuel prices and buoyant demand from holiday travelers helped drive up quarterly earnings, lifting the carrier to its 10th consecutive year of profit.

 
Energy Companies Seize the Day With Bond Refinancings 
 

A surprise rally in riskier corporate bonds is providing much-needed help to some energy companies with lower credit ratings, allowing them to issue new bonds to push back looming repayment dates.

 
Germany Files Further Charges in Volkswagen Diesel Case 
 

German prosecutors said they have charged six further Volkswagen employees in connection with the car maker's long-running diesel scandal.

 
Amazon Publishes Books by Top Authors, and Rivals Fret 
 

Amazon.com is well-known for dominating the U.S. book-retail market, but it is also a force as a book publisher, signing up blue-chip authors such as Dean Koontz and Patricia Cornwell who could make the tech giant an even more formidable threat to the traditional industry.

 
Visa's Bet on Plaid Is Costly but Necessary 
 

Visa is making a big bet on digital payments by plunking down its own card.

 
 

(END) Dow Jones Newswires

January 14, 2020 09:15 ET (14:15 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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