News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Amid Retail Funk, Macy's Says 'We're Not Dead'

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Macy's troubles showed no sign of abating as the department store reported another quarter of falling sales, ahead of a flurry of results from other retailers battling similar problems with store traffic and online competition.

McDonald's Boosts Its Payout for Franchise Upgrades

McDonald's Corp. is ponying up a big chunk of money in an effort to get franchisees to help change everything from the way customers order their food to the way employees provide service.

Dow, DuPont to Review Breakup Plan After Merger

Dow Chemical and DuPont will reassess how the chemical giants plan to separate into three companies following their merger, after shareholders of both companies raised questions about the details of each new company.

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Barclays Shakes Up Investment Banking Unit, Announces Hiring Spree

Barclays's corporate-and-investment banking chief Tim Throsby has taken interim control of the bank's markets business and launched a hiring spree as the British lender looks to bolster returns at the unit.

Delaware Judge Frees Cigna to Exit Anthem Merger

A judge on Thursday freed health insurer Cigna Corp. to abandon its proposed $48 billion merger with Anthem Inc., declining to give Anthem more time to try to salvage the deal, which federal courts have blocked on antitrust grounds.

Wells Fargo to Cut Additional $2 Billion in Expenses

Wells Fargo plans to cut an additional $2 billion in expenses by the end of 2019, more than analysts had expected.

Microsoft Unveils New Windows, Mixed-Reality Features

Microsoft announced plans for the next update to its Windows 10 operating system, a version that will include technology to bridge applications across devices-even those running iOS and Android.

SoftBank Founder Looks to Virtual Worlds in Next Big Tech Bet

Improbable, a London-based maker of virtual worlds and real-world simulations, has raised $502 million in a funding round led by the Japanese telecommunications and internet giant

AIG Gets a CEO Who Can Stand Up to Icahn

American International Group is poised to choose a strong hand to restore confidence in the insurance giant. AIG plans to name industry veteran Brian Duperreault as chief executive, The Wall Street Journal has reported.

Petrobras Posts Largest Profit in Two Years

Brazilian state-controlled oil company Petróleo Brasileiro SA reported its largest quarterly earnings in two years as the government continued allowing it to sell fuel at a profit in the domestic market.

(END) Dow Jones Newswires

May 11, 2017 23:15 ET (03:15 GMT)