News Highlights: Top Company News of the Day

Features Dow Jones Newswires

As GM Adjusts to Changing Auto Market, Its Sales Slide Behind Ford's

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General Motors is limping into the important summer selling season, getting passed by Ford as the market's top seller in May and preparing to make job cuts.

Elliott's Brash Activism Can't Sway Dutch Paint Giant

Elliott Management met its match in Akzo Nobel, as the Dutch paint giant faced down a protracted, $27.6 billion takeover attempt from U.S. rival PPG Industries, dealing a blow to the U.S. investor's aggressive style of activism.

Deere to Buy Road Construction Equipment Maker

Deere bought a construction-equipment maker for the first time in years, as the agricultural-machinery giant pursues sales beyond the struggling U.S. farm economy.

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Petrobras CEO Says He Has No Plans to Step Down

The chief executive of Brazilian state oil company Petróleo Brasileiro said Thursday he plans to stay at the company until his term ends in 2019 regardless of whether embattled President Michel Temer is forced to leave office.

EU Clears Way for $9.9 Billion State Rescue of Troubled Italian Bank

The EU cleared the way for the multibillion-dollar government rescue of one of Italy's biggest and most fragile banks by approving a restructuring plan for the troubled lender Banca Monte Paschi di Siena.

Senator: Two-Thirds of Recalled Takata Air Bags Unrepaired

Two-thirds of the more than 46 million recalled Takata air bags that risk rupturing haven't been repaired, a U.S. senator said.

Hewlett-Packard Darkened by Microsoft's Cloud

For the second consecutive quarter, the enterprise technology half of Hewlett-Packard's former empire has reported a sharp drop in server revenue. The main culprit, according to the company, is a "single Tier 1 customer" sharply reducing its spending. Several analysts believe that customer as Microsoft.

Regulator Bars Ex-Morgan Stanley Broker

Wall Street's self-regulatory body has barred a former broker at Morgan Stanley from the industry over claims that he concealed $190 million in Venezuelan bond trades.

Wells Fargo Wealth and Investment Management Head David Carroll to Retire

Wells Fargo said the head of its wealth and investment management unit David Carroll will retire, effective July 31. He will be replaced on July 1 by Jonathan Weiss, who has been head of Wells Fargo Securities, which includes the bank's investment banking business.

American Express Nabs Hilton Credit-Card Deal

American Express has won the rights to become the exclusive issuer of Hilton credit cards in a much-needed victory for the card issuer.

(END) Dow Jones Newswires

June 01, 2017 13:15 ET (17:15 GMT)