News Highlights: Top Company News of the Day
Investment Banking Propels Citigroup's Profit
The New York bank said fourth-quarter profit rose 15% and beat
expectations on a surge in its investment banking operations.
MGM Resorts Nears Deal to Sell MGM Grand, Mandalay Bay
MGM Resorts International is nearing an agreement to sell the
MGM Grand and Mandalay Bay resorts and casinos on the Las Vegas
Strip to a joint venture that includes private-equity and
real-estate giant Blackstone Group.
Wells Fargo's Results Sink on Legal Reserves
Wells Fargo's quarterly earnings dropped 53% to $2.87 billion.
Per-share earnings of 60 cents missed the $1.12 expected by
analysts polled by FactSet.
JPMorgan Profit Jumps on Strong Trading Quarter
JPMorgan Chase, the nation's largest bank, reported a 21% jump
in quarterly profit, boosted by a surge in its investment bank and
continued consumer strength.
As Justice Department Pressures Apple, Experts Say iPhone Easier to Crack
The escalation of a long-running encryption conflict between the
Justice Department and Apple has puzzled security experts who say
that new hacking tools have made it possible to gain access to many
of the company's devices in criminal investigations.
Delta's Profit Rises on Strong Demand and Cheaper Fuel
Delta said lower fuel prices and buoyant demand from holiday
travelers helped drive up quarterly earnings, lifting the carrier
to its 10th consecutive year of profit.
Energy Companies Seize the Day With Bond Refinancings
A surprise rally in riskier corporate bonds is providing
much-needed help to some energy companies with lower credit
ratings, allowing them to issue new bonds to push back looming
Germany Files Further Charges in Volkswagen Diesel Case
German prosecutors said they have charged six further Volkswagen
employees in connection with the car maker's long-running diesel
Amazon Publishes Books by Top Authors, and Rivals Fret
Amazon.com is well-known for dominating the U.S. book-retail
market, but it is also a force as a book publisher, signing up
blue-chip authors such as Dean Koontz and Patricia Cornwell who
could make the tech giant an even more formidable threat to the
Visa's Bet on Plaid Is Costly but Necessary
Visa is making a big bet on digital payments by plunking down
its own card.
(END) Dow Jones Newswires
January 14, 2020 09:15 ET (14:15 GMT)
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