News Highlights: Top Company News of the Day
December 11 2017 - 10:30AM
Dow Jones News
3M Sells Optical Fiber Business to Corning for $900 Million
Corning said Monday it agreed to buy almost all of 3M's optical
fiber and copper cable business for $900 million in cash.
Mattel Warns of Weak Holiday Quarter, Two Weeks Before Christmas
Mattel Inc. warned of another gloomy holiday season as key
brands continue to struggle and toy retailers tighten the amount of
inventory they're willing to buy upfront.
Icahn to Nominate Four to Xerox Board
Xerox said that former Icahn Capital Managing Director Jonathan
Christodoro resigned from its board so that investor Carl Icahn's
organization could nominate four directors at Xerox's annual
meeting in 2018.
Software Firm Settles U.S. Security Probe
A telecom software company will resolve a criminal investigation
of its use of uncleared Russian nationals working on a U.S. defense
project by implementing a security plan that U.S. officials hope
will be an industry model.
In New NFL Deal, Verizon Trades Mobile Exclusivity for Rights on Yahoo
Verizon Communications will no longer have the exclusive mobile
rights to distribute the games to its wireless customers, but the
$2 billion deal will expand the partnership to Verizon-owned
platforms like Yahoo Sports.
Hospital Giants in Talks to Create U.S.'s Largest Operator
Ascension and Providence St. Joseph Health are in talks about a
possible merger that would put 191 hospitals in 27 states under a
single owner, as a series of major deals are poised to consolidate
control of the health-care landscape into fewer hands.
Startup Affirm Gets Investment from GIC and a Valuation Nearing $2 Billion
Financial-technology startup Affirm Inc. said Monday that it
raised $200 million in new equity as it battles larger players
getting into its core business of lending to consumers for retail
purchases.
SoftBank to Invest More in OneWeb
Japan's SoftBank Group has agreed to invest roughly $500 million
more in satellite broadband provider OneWeb, according to a person
familiar with the details.
HSBC to Be Released From U.S. Deferred Prosecution Agreement
HSBC is to be released from a controversial agreement that let
it avoid U.S. criminal charges in 2012, after it was judged to have
sufficiently improved its systems to keep out financial
criminals.
Ex-Gawker Employees Launch Crowdfunding Drive to Buy Website
Ex-employees of Gawker.com's defunct publisher are raising money
through a crowdfunding campaign in a bid to purchase the blog out
of bankruptcy and relaunch the website.
(END) Dow Jones Newswires
December 11, 2017 11:15 ET (16:15 GMT)
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