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Singapore's Sovereign Wealth Fund to Cut Stake in UBS

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GIC Pte. Ltd. is halving its stake in Swiss banking giant UBS Group AG, crystallizing a multibillion-dollar loss on an investment that was ill-fated from the start.

Brazil's JBS Posts Net Profit

Brazil's JBS SA, the world's biggest producer of animal protein, said Monday it swung to a net profit in the first quarter, after losses from financial operations were much smaller than in the year-earlier period.

Upcoming Disney Film Target of Online Piracy Threat

A hacker or hackers claim to have stolen an unreleased film from Walt Disney Co. and threatened to release it online unless the company pays a ransom, Chief Executive Robert Iger told employees.

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AllianceBernstein Is Selling Bond-Trading Software

AllianceBernstein Holding LP agreed to sell its bond-trading software platform to trading technology firm Algomi Ltd.

Brazilian Airline Azul Focused on Cutting Debt, More Capacity After IPO

Azul Linhas Aéreas BrasileirasSA is focusing on cutting debt after its recent initial public offering while rebalancing its fleet to add more capacity to long-haul flights, Chief Executive David Neeleman says.

Berkshire Hathaway Confirms Warren Buffett's Apple, IBM Moves

Berkshire Hathaway sharply increased its holding of Apple and sold some of its stake in International Business Machines in the first quarter, according to a new securities filing.

Chicago Tribune Owner Makes Bid to Buy Sun-Times

The owner of the Chicago Tribune has made a bid to buy the newspaper's in-town rival, the Sun-Times, months after successfully rebuffing an offer itself to be swallowed up by national news company Gannett Co.

Uber Ordered to Return Documents in Self-Driving Fight With Waymo

A federal judge ordered Uber to return 14,000 driverless-car documents allegedly stolen from Google parent Alphabet and barred a key executive for the ride-hailing firm from working on certain autonomous vehicle technology.

ValueAct's Jeffrey Ubben Hands Reins to Protégé Mason Morfit

Activist investor Jeffrey Ubben is handing his $16 billion portfolio to the next generation, with ValueAct Capital Management tapping Mason Morfit to serve as chief investment officer.

J.P. Morgan Buys Dublin Office Tower, Makes Room to Expand Outside London

J.P. Morgan Chase & Co. is buying an office tower in Dublin's docklands business quarter, giving the U.S. bank significant space to expand outside of London when Britain leaves the European Union.

(END) Dow Jones Newswires

May 15, 2017 21:15 ET (01:15 GMT)