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 Motor Co. outlined new steps in its global cost-cutting efforts, saying it will reduce salaried workforce in key regions by 10% amid "an accelerated attack on costs."

Target Aims to Reshape Image as a Leader on Low Prices

Target's shares gained after profit topped lowered expectations. But sales continued to fall, and the retailer outlined plans to redesign stores, launch more brands and lower prices.

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.

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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.

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.

Wait! There's $10 Billion Left In Lehman Bros.

Lehman Brothers's collapse in the financial crisis left most of its creditors with deep losses. But Lehman's main European arm has around $10 billion of extra cash, prompting a legal feeding frenzy for hedge funds and distressed-debt investors.

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.

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.

CBS to Add Eight Series to Lineup

"Young Sheldon"-a prequel to "The Big Bang Theory," CBS's top comedy-and the police drama "S.W.A.T." highlight the network's new additions to its fall season.

(END) Dow Jones Newswires

May 17, 2017 15:15 ET (19:15 GMT)