News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Videogame Software Startup Unity Is Valued at $2.8 Billion

Continue Reading Below

Unity Technologies is putting the finishing touches on a $400 million funding round of financing that values the videogame technology company at about $2.8 billion, according to people familiar with the matter.

Brazil's Odebrecht Energy Unit Renegotiates $5 Billion in Debt

Troubled engineering conglomerate Odebrecht SA's oil and gas arm said late Tuesday it has entered into an agreement with a group of creditors to restructure its financial debt.

Investors' Faith in Michelin Looks Over-Inflated

The tire maker's stock is trading at peak multiples even as higher rubber prices and a weakening car market threaten its margins.

Continue Reading Below

Why OPEC Wants to Extend Oil Cuts: Aramco's Coming IPO

Saudi Arabia is pushing the OPEC oil cartel and other big producers to extend crude production cuts for another nine months to give a boost to the coming IPO of Saudi Arabian Oil Co.

Uber Shortchanged New York City Drivers by Millions of Dollars

Uber said it mistakenly underpaid New York City drivers for the past 2 1/2 years, the second time in three months the ride-hailing company has acknowledged it deprived workers of earnings.

Proxy Firms Back Activist's Nominees for Taubman Centers Board

Influential proxy-advisory firms have backed activist investor Jonathan Litt's petition to replace two members of the board of shopping-center owner Taubman Centers Inc.

Morgan Stanley Joins Rivals in Curbing Broker Recruiting

Morgan Stanley will curtail its recruiting of veteran brokers, joining other big firms on Wall Street that are no longer willing to gorge on the pricey practice of paying top-dollar to poach talent.

Westinghouse Can Tap Rest of $800 Million Bankruptcy Loan

Westinghouse Electric Co. won permission to use the rest of a loan that is helping finance the Toshiba-owned company's global operations and planned restructuring in chapter 11.

FDA Approves Merck's Keytruda to Treat Cancers With Genetic Defects

The FDA approved Merck & Co.'s Keytruda drug to treat tumors with a certain genetic defect-the first time the agency has cleared a cancer drug for a use not tied to the site of a tumor.

Glencore Makes Takeover Approach to Bunge

Glencore has made a takeover approach to grain trader Bunge, a move that would make the Swiss mining giant a major player in the U.S. agriculture market.

(END) Dow Jones Newswires

May 24, 2017 07:15 ET (11:15 GMT)