News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Shell Profit Soars as Oil Sector Bounces Back

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Shell reported a sharp increase in quarterly profit, rounding off a bumper set of results for the world's biggest oil companies as cost-cutting and a fragile recovery in oil prices begin to pay off.

VW Is Back and Rolling in Cash-and That Could Be a Problem

Volkswagen CEO Matthias Müller has brought the company back from an emissions-cheating scandal and returned it to strong profits. But VW also could be losing its incentive-and leverage-to change.

Goldman Fund Agrees to Buy 12% of Riverstone Holdings

A Goldman Sachs Group Inc. fund has agreed to pay about $500 million for a roughly 12% stake of Riverstone Holdings LLC, one of the world's largest energy investment firms.

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Apple Supplier to Sell Businesses Amid Patent Dispute

A small, British Apple Inc. supplier said it had entered into a formal dispute-resolution process with the Silicon Valley giant and intends to sell a large part of its business amid a patent fight with Apple.

Arconic Names Two Directors Ahead of Shareholder Vote

Arconic added two aerospace experts to its board ahead of a shareholder vote later this month when activist investor Elliott Management will seek to oust four directors.

HSBC Receives First Dividend From U.S. Unit in More Than a Decade

HSBC said it took its first dividend since 2006 from its U.S. bank in April, a milestone in the lender's yearslong turnaround, and posted better-than-expected first-quarter profit.

Senators Grill Aviation Officials Over Customer Service

U.S. Senators turned on the airline industry as lawmakers discussed possible tougher oversight, including a passenger bill of rights, in the wake of mounting disquiet over customer service.

Google Reaches Tax Settlement in Italy

Alphabet Inc.'s Google has agreed to pay around $334 million in back taxes in Italy, settling one of multiple legal and regulatory battles that have dogged the tech giant in Europe.

Fidelity International Launches Fund in China for Wealthy Mainland Investors

Fidelity International has launched its first fund for wealthy mainland Chinese to invest at home, a milestone for major foreign fund managers that are just starting to set up shop there.

Media Investors Fret About Long-Term Trends

A tepid outlook for television ad revenue and concerns about the longevity of the big pay-TV bundle are causing jitters among media investors.

(END) Dow Jones Newswires

May 04, 2017 15:15 ET (19:15 GMT)