News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Wal-Mart's Quarterly Sales Rise

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Wal-Mart reported stronger quarterly sales, showing that the world's largest retailer is drawing shoppers at a time when many competitors are reeling in the era of Amazon.com.

Facebook Slapped With EU Fine Over WhatsApp Deal

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.

Alibaba's Revenue Growth Accelerates

Chinese e-commerce giant Alibaba said earnings for its fiscal fourth quarter nearly doubled as more shoppers turned to its online platforms for purchases.

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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.

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.

Microsoft Extends Cloud-Computing Arms Race to Africa

Microsoft plans to extend the cloud-computing arms race among technology giants into Africa by opening two big data centers there next year.

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.

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.

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.

(END) Dow Jones Newswires

May 18, 2017 09:15 ET (13:15 GMT)