News Highlights: Top Company News of the Day

Features Dow Jones Newswires

J.P. Morgan, Bank of America Signal Weaker Trading Results

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Executives at the two biggest U.S. banks signaled Wednesday that second-quarter trading is weakening, bringing to a halt a string of strong quarters that have boosted bank results.

China Detains Rights Monitor Investigating Ivanka Trump Shoe Factory

New York-based China Labor Watch said it has lost contact with three undercover investigators who worked at Chinese factories making Ivanka Trump-brand shoes, and at least one of them has been detained.

JBS Parent to Pay $3.2 Billion to Settle Corruption Probes in Brazil

J&F Investimentos, the holding company that controls meatpacker JBS, agreed to pay a $3.2 billion fine in exchange for leniency in multiple corruption investigations by Brazilian prosecutors.

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Michael Kors to Close up to 125 Stores

Luxury handbag seller Michael Kors will close 100 to 125 of its full-priced retail stores amid increasing pressure from deep discounting across the industry.

Arbitration Panel Rejects Gazprom's $34.5 Billion Claim in Ukraine Gas Dispute

Ukrainian state gas company Naftogaz said Wednesday that an arbitration tribunal had dismissed a $34.5 billion claim from Russian state gas giant PAO Gazprom over the terms of a disputed gas contract, marking a victory for Kiev in its efforts to reduce Russia's economic sway.

Toshiba Makes Legal Concession on Sale of Memory-Chip Unit

Toshiba made a legal concession to U.S. company Western Digital in a bid to accelerate the sale of the Japanese technology giant's lucrative memory-chip unit.

China to Implement Cybersecurity Law Amid Foreign Tech-Firm Anxieties

China's new cybersecurity law goes into force Thursday amid confusion among some foreign technology companies about how it will affect their operations.

EU Approves GE's Acquisition of Baker Hughes

General Electric secured unconditional approval from the European Union to combine its oil and gas business with Baker Hughes.

Mobile Wallet Paytm Hits Pay Dirt Amid India's Cash Crackdown

The mobile-payments app Paytm has become India's second-most-valuable startup as the country's crackdown on cash over the past year has left citizens and merchants searching for cashless payment alternatives.

Frontline in Talks With Gener8 to Create World's Biggest Tanker Fleet

Frontline, the tanker major owned by Norwegian billionaire John Fredriksen, is in talks to buy or merge with Gener8 Maritime Inc., people with knowledge of the matter said.

(END) Dow Jones Newswires

May 31, 2017 13:15 ET (17:15 GMT)