News Highlights: Top Company News of the Day
20 Juni 2017 - 01:31AM
Dow Jones News
GM Laying Off About 1,000 Workers Amid Downturn in Passenger-Car Sales
General Motors will eliminate a shift at a sedan plant in Kansas
City, Kan., laying off about 1,000 people as the nation's largest
auto maker continues to shed thousands of factory jobs amid a sharp
downturn in demand for passenger cars.
UPS to Add Delivery Surcharges for Black Friday, Christmas Orders
United Parcel Service for the first time will tack a surcharge
onto most online orders shipping around the Black Friday shopping
weekend and the week before Christmas.
Vice Media Secures $450 Million Investment From TPG
Vice Media has secured a $450 million investment from
private-equity firm TPG, as the youth-focused digital media company
looks to step up its spending on scripted programming and plans a
direct-to-consumer service.
Hedge-Fund Manager John Paulson Joins Valeant Board
Hedge-fund billionaire John Paulson has joined the board of
Valeant Pharmaceuticals, a sign that the investor remains bullish
on the drugmaker's prospects despite accruing steep losses on
investments in the firm.
Who's Behind Morgan Stanley's Bond Trading Turnaround? A Stock Guy
Under Ted Pick, Morgan Stanley's bond-trading division has
booked four straight quarters of fixed-income revenue above $1
billion. But Mr. Pick is striking a cautious note as other
turnarounds have shown promise only to crumble.
Sen. Warren Calls for Removal of 12 Wells Fargo Directors
Sen. Elizabeth Warren (D, Mass.) is urging the Federal Reserve
to remove a dozen Wells Fargo board directors who served during the
bank's sales-practices scandal, according to a letter reviewed by
The Wall Street Journal.
Citigroup's Plan to Revive Its Lagging Stock
It is time for Michael Corbat to change the narrative at
Citigroup. Investors and even top executives at the bank say it is
time for Mr. Corbat to shift to offense by boosting growth in areas
like credit cards, Wall Street stock trading and retail
banking.
A.M. Castle Files for Chapter 11 With Deal in Hand
A.M. Castle filed for chapter 11 with a plan backed by a group
of hedge funds, including Highbridge Capital Management, which will
swap debt for equity in the reorganized company.
Activist Land & Buildings Takes 4.3% Stake in Hudson's Bay
Investor Land & Buildings is pushing Saks' parent Hudson's
Bay to consider strategic alternatives, including possibly taking
the company private or redeveloping its vast real-estate
holdings.
EQT to Buy Rice for $6.7 Billion
EQT Corp. agreed to buy Rice Energy Inc. for $6.7 billion in the
latest proposed tie-up between energy producers suffering from low
oil and gas prices.
(END) Dow Jones Newswires
June 19, 2017 19:16 ET (23:16 GMT)
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