Citi Names Leaders for New Credit-Markets Group
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Citigroup Inc. has tapped Mickey Bhatia and Carey Lathrop to be co-heads of a new group spanning credit trading and securitization, key cogs in its sprawling and growing fixed-income business.
J.C. Penney Ekes Out Adjusted Profit
J.C. Penney eked out a surprise profit on an adjusted basis in the first quarter although revenue came in under expectations.
Talk About Big-Box Retailing: Amazon Pushes to Sell Furniture
Amazon.com is making a major push into furniture and appliances, including building at least four massive warehouses focused on fulfilling and delivering bulky items. Furniture is one of the fastest-growing segments of U.S. online retail.
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Judge Asks Prosecutors to Investigate Uber's Driverless Car Program
The judge called for an investigation of Uber and one of its engineers for the potential theft of trade secrets from Google, heightening the stakes of a legal battle between Uber and Google parent Alphabet over driverless-car technology.
Lilly's New Migraine Drug Shows Positive Results
Eli Lilly & Co. said it will seek regulatory approval of a migraine drug this year after seeing positive results from late-stage studies, raising hopes for a new class of treatments for the debilitating headaches.
Brazil's Itaú to Acquire 49.9% of Brokerage XP for $1.9 Billion
Brazilian bank Itaú Unibanco agreed to pay more than $1.9 billion to buy a 49.9% stake in local brokerage firm XP Investimentos, along with options to acquire full control in the future.
Noble Shares Plunge to 15-Year Low on Quarterly Loss and Hedging Woes
Noble Group shares lost nearly half their value in two days after a quarterly loss and fears over financing added to concerns that the commodities trader may struggle to effectively hedge its price risk in its coal business.
San Francisco Sues Uber for Driver Information
San Francisco is seeking to force the ride-hailing service to disclose personal information about its drivers so officials can ensure the drivers are paying business fees to the city.
Fiat Chrysler Recalls 1.2 Million Ram Pickup Trucks
Fiat Chrysler Automobiles NV on Friday issued a recall for an estimated 1.2 million Ram pickup trucks in North America to fix a glitch in safety system sensors, linking the problem to one death and two injuries.
SoftBank to Pump $5 Billion Into China's Didi
Japan's SoftBank is pledging to invest $5 billion in China's lead ride-hailing firm Didi Chuxing, seeking to position itself in a key technology growth area.
(END) Dow Jones Newswires
May 12, 2017 11:15 ET (15:15 GMT)