News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Ford to Cut 10% of Salaried Workforce in Asia, North America

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Ford said it aims to reduce its salaried workforce in North America and Asia by 10%, a move aimed at shoring up profits as the once-booming U.S. and Chinese auto markets start to cool.

Target Sales Fall as Traffic and Average Orders Decline

Target Corp. said revenue and comparable sales decreased due to traffic and average order declines as the retailer continues to shape its online strategy.

Qualcomm Sues iPhone Manufacturers Over Royalties

Qualcomm sued the companies that make iPhones for Apple for failing to pay royalties on the chip maker's technology, broadening its legal battle with the world's most valuable company.

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Volkswagen CEO Targeted in Emissions Cheating Probe

Volkswagen Chief Executive Matthias Müller has been targeted for the first time in a probe in connection with events linked to the disclosure of the company's emissions-cheating scandal, threatening the company's efforts to put the two-year-old saga behind it.

Lehman's Europe Creditors Awarded Most of a $10 Billion Cash Surplus

Creditors to Lehman Brothers' main European unit will get most of a $10 billion cash surplus to cover interest payments on their debt, the U.K. Supreme Court ruled.

Wal-Mart Earnings: What to Watch

Wal-Mart Stores Inc. is scheduled to report fiscal first-quarter results before the market opens Thursday.

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

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.

South Korea Names 'Chaebol Sniper' to Watchdog Role

South Korea's new president named an outspoken critic of the country's family-controlled business empires to a key government post, a move that signals a tougher regulatory approach to conglomerates such as Samsung, Hyundai Motor and LG.

(END) Dow Jones Newswires

May 17, 2017 09:15 ET (13:15 GMT)