News Highlights: Top Company News of the Day

Features Dow Jones Newswires

U.K.'s Lloyds Stake, a Remnant of the Financial Crisis, Is Finally Sold Off

Continue Reading Below

The U.K. government has sold its last remaining stake in Lloyds, a watershed moment for the British lender almost a decade after it was bailed out at the height of the financial crisis.

BHP Billiton CEO to Meet With Elliott Amid Pressure

BHP Billiton Chief Executive Andrew Mackenzie will meet with representatives from Elliott Management, the activist investor pushing for the resources company to shed at least some of its oil-and-gas assets.

China's Tencent Posts 58% Jump in First-Quarter Profit

Chinese internet giant Tencent Holdings reported a steep rise in profit and revenue in the first quarter, notching solid growth in its core gaming and online-advertising businesses.

Continue Reading Below

Apple Assembles First iPhones in India

An Apple manufacturer has completed a trial run of the first-ever iPhones assembled in India, in an important step in the U.S. tech giant's push into the fast-growing South Asian market.

Amazon's Australian Expedition to Rattle Retailers

Amazon is preparing to bring its full retail offering to Australia, signaling a major competitive threat to the country's retailers and an important new beachhead for its global distribution network.

Sotheby's Loses Its Star Work But Auction Rallies

A day after Christie's sold $289.2 million worth of impressionist and modern art, Sotheby's countered with a passable, $173.8 million sale that was hurt by the last-minute withdrawal of its expected star, an Egon Schiele nude portrait.

Despite Promises, Car Makers Are Set on Job Cuts

Faced with softening U.S. car sales and mounting investor skepticism about Detroit's ability to weather the first industry downturn in nearly a decade, auto executives are facing a tough choice in who to please-Wall Street or the White House.

'Google' Is Still a Trademark, Even if It Is Used as a Verb, Court Says

A federal appeals court affirmed the Google trademark, ruling that while the word has become synonymous with "internet search" the company name is still widely identified as a brand name worthy of protection.

TPG Borrows Page from Activist Playbook in Buying Etsy Stake

Etsy shares soared after private-equity firm TPG disclosed a stake in the online marketplace.

AllianceBernstein Is Selling Bond-Trading Software

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

(END) Dow Jones Newswires

May 17, 2017 07:15 ET (11:15 GMT)