News Highlights: Top Company News of the Day

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Appeals Court Vacates Ruling that Declared AIG Bailout Unlawful

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A federal appeals court on Tuesday vacated a lower court's ruling that the 2008 federal bailout of American International Group Inc. was unlawful.

Toshiba Partners Brace for Possible Bankruptcy Filing

Toshiba's business partners are preparing for a scenario in which the company seeks to reorganize under Japanese bankruptcy laws, with consequences for the global nuclear-power and electronics industries.

Hertz Shares Plunge on Wide Earnings Miss

Hertz shares plunged after the rental-car company reported a far larger loss than expected, raising concerns about its turnaround efforts.

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AmTrust Shares Tumble on Earnings Miss

Shares of AmTrust Financial Services fell sharply to their lowest level in more than four years, after the company fell far short of Wall Street estimates for its first-quarter earnings.

Southwest Looks to Pilot Pain-Free Systems Upgrade

Southwest Airlines Co. on Tuesday plans to move from its 30-year-old reservations system to a new technology platform, providing capabilities its rivals have been using for years.

Bombardier Chairman's Re-Election Faces More Opposition

The Ontario Teachers' Pension Fund became the second major fund to oppose the re-election of Bombardier's executive chairman, saying the aerospace and train manufacturer needs more "independent board leadership."

Home Capital to Sell up to $1.1 Billion of Mortgages

Mortgage lender Home Capital Group Inc. has agreed to sell as much as 1.5 billion Canadian dollars ($1.1 billion) of mortgages to an unidentified buyer as it scrambles for new capital in the wake of a deposit flight.

Elliott Takes Akzo Nobel to Court to Oust Chairman in PPG Bid Battle

U.S. activist investor Elliott Management has asked a Dutch court to force Akzo Nobel to hold a special shareholder meeting seeking the removal of its chairman, its latest attempt to strong-arm the paint maker into sale talks with rival PPG.

'American Idol' to Return to TV, on ABC

ABC plans to revive "American Idol," the music competition show that dominated television in the 2000s. Fox previously aired "Idol," which was canceled a year ago.

Alipay and WeChat Pay Make Push Into U.S.

China's Alipay and WeChat Pay, which allow payments for groceries, movies and more with smartphones, are expanding into North America, hoping to ride waves of Chinese traveling abroad.

(END) Dow Jones Newswires

May 09, 2017 13:15 ET (17:15 GMT)