News Highlights: Top Company News of the Day

Date : 10/12/2017 @ 12:30PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

J.P. Morgan's Profits Up on Lending Boost 

J.P. Morgan said its third-quarter profit rose as a boost from lending offset weaker trading results for the nation's biggest bank by assets.

GM to Idle Detroit Car Factory Amid Slow Demand 

General Motors plans to close a Detroit factory through the end of the year and deepen production cuts to slow-selling cars the plant manufactures, idling some workers and letting go others in response to weak sales.

Citigroup's Profits Rise, Buoyed by Cost Cuts 

Citigroup boosted third-quarter profit by slashing expenses, even as it grappled with challenges in its credit-card business.

HSBC Names John Flint as Chief Executive 

HSBC Holdings named retail head John Flint as its next chief executive, signaling continuity in the Asia-focused bank's strategy.

Goldman Sachs to Buy House-Flipping Lender 

Goldman Sachs is acquiring Genesis Capital, a private Los Angeles firm that backs investors seeking to buy, renovate and quickly sell single-family homes, according to people familiar with the matter.

Facebook to Disclose Targets of Russia-Backed Election Ads 

Facebook will disclose the types of people targeted by Russian-backed ads during and after the 2016 presidential election, as operating chief Sheryl Sandberg said the social-media site was manipulated in a way it shouldn't have been.

Cord-Cutters Sap AT&T's TV Business 

AT&T Inc. continues to lose pay-TV customers despite a wave of new subscribers to its streaming service, a trend that could spell trouble for the broader entertainment industry.

New York AG Eric Schneiderman Probing Deloitte Hack 

The New York attorney general's office is looking into the cyberbreach at Deloitte that the giant accounting firm says compromised information on a small number of its clients.

Air Berlin Collapse Kicks Off European Airline Consolidation 

Airline consolidation that has helped U.S. carriers boost profits is gaining pace in Europe's fractured aviation sector where Air Berlin said it was selling part of its assets to larger rival Deutsche Lufthansa.

Danish Bank Under Probe in France Over Magnitsky Money-Laundering 

A French judge is investigating Danske Bank for allegedly laundering stolen Russian money identified by deceased whistleblower Sergei Magnitsky, according to a former hedge-fund manager leading an international campaign for sanctions against Russia.


(END) Dow Jones Newswires

October 12, 2017 13:15 ET (17:15 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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