News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Ford Aims to Cut Global Workforce by Roughly 10%

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Ford Motor Co. aims to cut about 10% of its global workforce amid Chief Executive Officer Mark Fields's drive to boost profits and the auto maker's sliding stock price, according to people briefed on the plan.

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.

Teen Retailer Rue21 Files for Chapter 11 Bankruptcy Protection

Rue21 said it had entered into agreements with certain lenders to reduce its debt and provide additional capital for its restructuring.

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Singapore's Sovereign Wealth Fund to Cut Stake in UBS

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.

Activist Investor Backs Off Call for BHP to Ditch Sydney Listing

Activist investor Elliott Management refined its attack on BHP Billiton, calling for an independent review of its petroleum business and deflecting earlier criticism by proposing the company retain a main stock listing in Australia.

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.

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 is trying to buy its Windy City rival, the Sun-Times, months after being pursued unsuccessfully by Gannett, the nation's largest newspaper chain.

(END) Dow Jones Newswires

May 16, 2017 05:15 ET (09:15 GMT)