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."

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.

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.

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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 Compensation 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.

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.

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.

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.

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.

(END) Dow Jones Newswires

May 17, 2017 19:15 ET (23:15 GMT)