News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Abercrombie & Fitch in Merger Talks With Suitors

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Abercrombie & Fitch is in merger talks with at least two interested buyers; rivals Express Inc. and American Eagle Outfitters have shown interest in the apparel chain.

Whole Foods Plans to Remove More Than Half of Its Board

Whole Foods Market plans to remove more than half of its 12 sitting directors over the year and name a new chairman in an effort to show it is open to change after two big shareholders called on the chain to explore a sale.

Microsoft Makes a Play for Oracle's Customers

As Microsoft gains momentum in its cloud-computing business, it is setting its sights on an old nemesis: Oracle.

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Deutsche Bank's Big Shareholder Heavily Financed Its New Stake

Deutsche Bank's new biggest shareholder, Chinese conglomerate HNA Group, used more than $2.8 billion in financing to help buy its nearly 10% stake in the German lender and protect itself against potential losses on the position.

Time Inc. to Cut Costs, Sell Assets

Less than two weeks after deciding not to sell itself, Time Inc. unveiled a plan aimed at strengthening its finances by cutting its dividend, selling off noncore assets and hiring an outside adviser to help it reduce costs.

Third Big Investor Joins Push Against Bombardier Chairman

Embattled Bombardier has come under increased shareholder pressure to check the boardroom influence of its founding family after Canada's largest pension plan joined two other major funds in opposing the re-election of Pierre Beaudoin as executive chairman.

Barclays Chair Backs Embattled Staley Over Whistleblowing Probe

Barclays Chairman John McFarlane defended the bank's chief executive, Jes Staley, as several shareholders called for the U.S. banker to be fired over his role in trying to unmask a whistleblower.

Wells Fargo Probes Client Handling at Chicago Wealth Branch

Wells Fargo is investigating whether three senior executives in Chicago inappropriately steered business toward certain individuals in its private-banking unit.

French Insurer AXA to List U.S. Unit

French insurance company AXA plans to take its large U.S. life-insurance operations public, selling shares in a company that also will be home to the AllianceBernstein Holding asset-management business.

SoftBank Nears Closing on $100 Billion Tech Fund

SoftBank CEO Masayoshi Son said he is preparing to shift his focus from turning around U.S. wireless unit Sprint to running a $100 billion technology-investment fund-which might launch as early as next week.

(END) Dow Jones Newswires

May 10, 2017 15:15 ET (19:15 GMT)