News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Facebook Slapped With EU Fine Over WhatsApp Deal

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Facebook was fined $122.7 million by the EU's antitrust regulator for misleading authorities over the acquisition of its messaging unit WhatsApp, firing a warning shot to other companies.

General Motors Will Stop Selling Cars in India

General Motors Co. said it will stop selling cars in India while continuing to build them there, retrenching as it adjusts to a nascent automotive threat from Silicon Valley.

Christie's Sale Soars as Collectors Sink Fortunes Into Art

The postwar art auction exceeded expectations, despite the stock market drop, as Cy Twombly's 'Leda and the Swan' sold for $52.9 million and Roy Litchtenstein's 'Red and White Brushstrokes' went for $28.2 million.

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Lowe's to Buy Two Building-Management Firms

Lowe's Cos. agreed to buy two companies that sell products to apartment-building managers and owners, moves aimed at diversifying its business beyond do-it-yourself homeowners.

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.

Battle for Australian Newspaper Publisher Really About Real Estate

In the bidding war between two U.S. private-equity firms for Australian newspaper company Fairfax Media, the prize being fought over is Fairfax's online real-estate-classifieds business, Domain.

Tidewater Files for Chapter 11 Bankruptcy Protection

Tidewater has become the latest offshore-vessel company to file for chapter 11 bankruptcy protection.

Saudi Wealth Fund Launches Arms Manufacturing Company

Saudi Arabia's sovereign-wealth fund on Wednesday announced the establishment of a state-owned arms manufacturing company, a step intended to spur the growth of an indigenous military industry.

Google Gives Artificial Intelligence More Power in its Products

Google doubled down on its bet on artificial intelligence with new features and availability for its virtual assistant and smart speaker at its annual software-developers conference, part of a scramble with other tech giants to dominate the next wave of consumer technology.

Health of New CSX Chief in Focus Ahead of Pay 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.

(END) Dow Jones Newswires

May 18, 2017 07:15 ET (11:15 GMT)