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 Posts Weaker Sales, Plans Store Redesigns, More Brands

Target's sales continued to fall in its most recent quarter as the retailer said it would invest billions in redesigning stores, launching exclusive store brands and lowering prices.

Caterpillar Faces Call to Shake Up Audit Committee

An investment group wants to shake up Caterpillar's audit committee, amid mounting scrutiny of the machinery giant's offshore tax strategy.

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Ralph Lauren Taps Another Outsider as CEO

Ralph Lauren is taking another chance on bringing in an outsider to run the company, tapping Procter & Gamble's top beauty executive to be its next chief.

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.

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.

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.

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.

GulfMark Offshore Files for Chapter 11

GulfMark Offshore filed for bankruptcy protection after reaching a deal with bondholders on the terms of a debt-for-equity swap as the shakeout in the offshore support industry continues.

(END) Dow Jones Newswires

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