News Highlights: Top Company News of the Day
Microsoft Folds LinkedIn Social-Media Service in China
LinkedIn said it would replace its Chinese service, which
restricts some content to comply with local government demands,
with a job-board service lacking social-media features.
John Deere Workers Go on Strike After Voting Down Tentative Deal
The deal would have given workers pay raises and lump-sum
bonuses over six years.
Toyota Is Accused of Using Stolen Motor Technology in Rare Lawsuit
A longtime Toyota supplier, Nippon Steel, alleges the car maker
and a Chinese supplier, Baoshan Iron & Steel, infringed on its
patent on material used in steel sheets that make up Toyota
Citigroup Profit Jumps 48% After Releasing Rainy-Day Funds
The bank, which reported a third-quarter profit of $4.64
billion, freed up $1.16 billion it had set aside for bad loans
early in the pandemic. The quarterly result beat analyst
Boeing Runs Into Trouble With New Dreamliner Defect
The problem involves certain titanium parts that are weaker than
they should be on 787s built over the past three years, the latest
production slip-up to delay aircraft deliveries and draw increased
U.S. government scrutiny.
IKEA Struggles to Stock Shelves Amid Supply-Chain Woes
The world's largest furniture seller said a significant share of
its products are missing from store shelves around the world, with
many of its flatpacks and houseware items sitting idle at
warehouses waiting for trucks.
Domino's Same-Store Sales Decline Breaks Growth Streak
That break in the pizza maker's sales trend helped bring the
company's third-quarter revenue below analysts' expectations.
Walgreens to Invest $5.2 Billion in VillageMD
The pharmacy chain will take a controlling stake in the
primary-care network as it seeks to remodel itself as a healthcare
Morgan Stanley Profit Rises, Powered by Deal Making, Trading
The New York bank said third-quarter profit rose 36%.
Bank of America Profit Rises on Higher Interest Income
The second-largest U.S. bank earned $7.69 billion in the third
quarter, as it benefited from a rebound in net interest income. The
quarterly result topped analysts' expectations.
(END) Dow Jones Newswires
October 14, 2021 11:00 ET (15:00 GMT)
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