News Highlights: Top Company News of the Day

Features Dow Jones Newswires

New Rival for Sapphire Reserve, Platinum Rewards Cards

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U.S. Bancorp plans on May 1 to launch a premium card geared toward high spenders and millennials, adding to the threats facing American Express in a card category where it was until recently unrivaled,

Ousted Arconic CEO Sent Vague Threat to Hedge-Fund Boss

The letter that cost Klaus Kleinfeld his job as chief executive of aerospace-parts maker Arconic Inc. contained a vague threat toward the billionaire whose hedge fund had been campaigning for Mr. Kleinfeld's ouster.

Facebook Aims to Connect Directly to Your Brain

The company's Building 8 division for several months has been working on a "brain-computer interface" that could help people type 100 words a minute from their minds-about five times faster than we type from our smartphones, Regina Dugan says.

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Caterpillar to Move Headquarters to Chicago Suburb

Equipment giant Caterpillar Inc., after decades in the central Illinois city of Peoria, said it is moving its headquarters to the Chicago suburb of Deerfield, in closer proximity to a commuter railroad and O'Hare International Airport.

Alcoa to Close New York Headquarters

Alcoa Corp. plans to close its global headquarters in New York and seven other administrative offices within 18 months in a bid to shave $5 million a year in overhead costs.

Woodside Quarterly Revenue Dented by Storms, Rainfall

A decline in production thanks to bad weather and a buildup in inventory weighed on Woodside Petroleum's first-quarter revenue, although the Australian energy firm stuck with its output target for the year.

Rio Tinto Scales Back Copper Production Target

The Anglo-Australian miner has scaled back its target for copper output this year, but has held to its guidance for iron ore.

BlackBerry Arbitration Ruling Cuts Into Qualcomm's Profit

An arbitration decision in a dispute with BlackBerry Ltd. weighed on Qualcomm Inc.'s earnings in the latest quarter, a further blow to its results after the chip maker paid a hefty South Korean government fine the previous quarter, and a reminder of ongoing challenges to its patent licensing business.

American Express Results Decline Less Than Expected

American Express posted lower earnings and revenue in the first quarter of the year, hurt by the loss of its relationship with warehouse-club retailer Costco Wholesale, though card member spending climbed.

Canadian Pacific Railway Profit Edges Down

Canadian Pacific Railway Ltd. on Wednesday reported a slight decline in first-quarter profit despite an uptick in shipping volumes, reflecting foreign-exchange charges and higher operating costs.

(END) Dow Jones Newswires

April 20, 2017 01:15 ET (05:15 GMT)