Saudi Wealth Fund Launches Arms Manufacturing Company
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Saudi Arabia's sovereign-wealth fund on Wednesday announced the establishment of a state-owned arms manufacturing company, a step intended to spur the growth of an indigenous military industry.
Shares of Ann Taylor Parent Drop After Profit Warning
Ascena Retail Group Inc., which owns Ann Taylor and Loft, sharply cut its financial projections amid a rough retail market, sending shares tumbling by about a third.
Cisco to Lay Off 1,100 More Workers
Cisco Systems said it would lay off another 1,100 employees and forecast a drop in quarterly revenue as the networking company contends with market shifts.
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Halliburton President to Become CEO
Halliburton Co. said Wednesday that Jeff Miller, a board member and president of the oil-field-services company, will be its new chief executive officer.
Health of New CSX Chief in Focus Ahead of Pay Vote
Hunter Harrison, the new CEO of CSX, said he is able to lead a turnaround of the big U.S. railroad, despite an undisclosed medical condition that requires him to sometimes use an oxygen machine.
Google Gives Artificial Intelligence More Power in its Products
Google doubled down on its bet on artificial intelligence with new features and availability for its virtual assistant and smart speaker at its annual software-developers conference, part of a scramble with other tech giants to dominate the next wave of consumer technology.
EU to Fine Facebook Over WhatsApp Acquisition
The European Union's antitrust watchdog is poised to fine Facebook on Thursday for giving "incorrect or misleading information" to investigators who were probing its purchase of chat app WhatsApp in 2014.
Albertsons Chief Administration Officer and Deal Maker Leaves Grocer
Justin Dye, who was viewed as a potential successor to Chief Executive Bob Miller, has quietly left the Boise company.
Exxon Mobil to Enter Mexican Gas-Station Market
Exxon Mobil plans to open its first Mexican service station in the second half of the year, joining the likes of BP Plc in the country's newly opened motor fuels market.
Mexico's Grupo Lala Is Lead Bidder for Danone's Stonyfield Farm
Mexico's Grupo Lala has emerged as the lead bidder for Stonyfield Farm Inc., the well-known U.S. maker of organic yogurt.
(END) Dow Jones Newswires
May 17, 2017 23:15 ET (03:15 GMT)