News Highlights: Top Company News of the Day
October 17 2018 - 4:15PM
Dow Jones News
Constellation CEO Rob Sands to Step Down From Corona Brewer
Rob Sands, the third in his family to lead the upstate Victor,
N.Y. company, will step aside as chief executive on March 1,
entrusting Constellation's future to one of his lieutenants, Bill
Newlands.
EBay Sues Amazon, Alleging Sellers Were Illegally Poached
EBay.com filed a lawsuit against Amazon.com, accusing the
company of illegally poaching sellers on its marketplace via eBay's
internal messaging system.
Funds Back Proposal to Remove Zuckerberg as Facebook Chairman
Several public funds with holdings in Facebook are backing a
shareholder proposal to push out CEO Mark Zuckerberg as
chairman.
United, Delta Climb on Business-Class Demand
Strong demand for premium travel is helping U.S. carriers like
United and Delta offset higher fuel costs.
IBM Shares Slide as Revenue Drop Renews Concerns
Shares of International Business Machines fell Wednesday after
the company's drop in revenue renewed concerns about the tech
giant's growth prospects.
SEC Charges Former Insurance Wunderkind With Fraud
The SEC charged Alexander Chatfield Burns, a former insurance
industry wunderkind, with fraud, claiming he and an associate
diverted more than $300 million from insurers they controlled.
Campbell Soup-Maker Descendants Say They Support Board
Some members of the family that has controlled Campbell Soup for
more than a century said they would work together to block activist
investor Daniel Loeb's attempt to replace the food-maker's board of
directors.
Uber Targets Trucking With New Trailer-Rental Business
Uber, trying to move beyond its unprofitable business of
connecting drivers with passengers, is adding a new tractor-trailer
rental business to help big-rig truckers haul freight.
Risk of Bank-Like Regulation Fades for Big Financial Firms
U.S. regulators removed federal oversight of Prudential,
granting the firm a victory after a yearslong effort to prove it
didn't deserve tighter scrutiny and signaling lowered regulatory
risk for non-bank financial firms.
U.S. Bancorp's Loan Growth Lifted by Consumers
U.S. Bancorp said third-quarter net income rose 16% from a year
earlier as its average loan balance grew thanks to higher lending
in areas such as credit cards and residential mortgages.
(END) Dow Jones Newswires
October 17, 2018 17:00 ET (21:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.