News Highlights: Top Company News of the Day
June 22 2018 - 2:15PM
Dow Jones News
Goldman Sachs, Morgan Stanley Stress Over Capital Returns
The two banks barely passed the Federal Reserve's annual stress
tests, raising doubts about their ability to grow dividends and
buybacks over the next year.
China Confirms Transfer of Anbang Insurance to Government
Chinese authorities confirmed the transfer of nearly full
ownership of troubled Anbang Insurance Group to a
government-controlled fund, effectively transforming a once boldly
entrepreneurial firm into a state-owned enterprise.
CEO's Stock Award From Chinese Smartphone Maker Xiaomi Is One of the Largest Ever
Xiaomi, the Chinese smartphone maker whose value may hit $70
billion, gave its founder and chief executive a token of its
appreciation: $1.5 billion in stock, no strings attached, in one of
the largest corporate paydays in history.
Johnson & Johnson Group Worldwide Chairman Peterson to Retire
Sandra Peterson will leave post Oct. 1 after nearly six years
with company
AT&T's Interest in Ad Tech Gets Thumbs Up on Madison Avenue
News of AT&T's talks to acquire advertising tech firm
AppNexus was welcomed by marketers, who are eager to have more
options in the online ad sector beyond the dominant players Google
and Facebook.
Former WPP CEO Denies He Visited a Prostitute and Paid Using Company Money
WPP founder Martin Sorrell denied that he visited a prostitute
and paid with company money as he fielded questions about his
reasons for resigning as chief executive of the world's largest
advertising company.
Cummins Will Pay Tariff to Import Engines From Its Own Plants in China
Cummins, which imports engines and other products from its
factories in China, is among U.S. companies likely to be stung by
an American tariff on Chinese-made goods that takes effect next
month.
Intel CEO Challenge: Pick From Thin Bench, or Look Outside
Brian Krzanich's resignation this week leaves Intel's board with
a tough choice: Name the next CEO from a small pool of internal
candidates, or go outside for the first time in the chip maker's
50-year history.
These Bank Customers Are Making a Bundle on Their Deposits
So far banks have resisted rewarding deposit customers with
higher rates.
BlackBerry Reports Net Loss, Revenue Drop
BlackBerry reported a net loss of $60 million, or 11 cents a
share, compared with a profit of $671 million, or $1.23 a share,
for the same quarter a year before.
(END) Dow Jones Newswires
June 22, 2018 15:00 ET (19:00 GMT)
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