News Highlights: Top Company News of the Day

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Jeff Immelt to Step Down as CEO of GE; Flannery Takes Role

GE said that Jeff Immelt would step down as its CEO, a move that had been expected by some company watchers. He will be replaced by the head of the company's health-care business, John Flannery.

Jaguar Land Rover Invests $25 Million in Lyft

Jaguar Land Rover has invested $25 million in Lyft Inc., the latest auto company to strike a deal with the Silicon Valley ride-hailing company.

German Discount Grocer Aldi Sets U.S. Expansion Plan

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Discount grocery chain Aldi is expected to unveil on Monday plans to invest $5 billion to open nearly 900 stores and remodel hundreds more in the U.S.

Goldman's Green Push Comes With Trading Twist

Goldman Sachs Group Inc. has agreed to buy 68 megawatts of electricity from a Pennsylvania wind farm in an effort to stake a claim in a hot corner of the energy-trading market-and to try to catch up with rivals.

Uber Faces Deeper Turmoil at Top

Uber's leadership crisis intensified as the board of directors met to weigh issues including a possible leave of absence for CEO Travis Kalanick and the potential departure of his closest lieutenant.

Gymboree Files Chapter 11

Children's clothing seller Gymboree filed for chapter 11, becoming the latest in a parade of mall-based retailers that have filed for bankruptcy this year.

Fujifilm Says Losses From Accounting Scandal Bigger Than First Thought

Fujifilm Holdings said losses from accounting irregularities in New Zealand were much larger than first thought and extended to its Australian office-equipment unit, a development that raises further doubts about Japanese firms' control over their overseas operations.

Qatar Airways Boss Bashes Trump for Backing Blockade

The CEO of Qatar's national airline struck a strident tone in the face of an air blockade imposed by Arab neighbors, expressing dismay that President Trump backed the action while talking up the carrier's growth prospects.

Microsoft's Xbox One X on Sale in November for $499

Microsoft Corp. on Sunday said its next videogame console will go on sale Nov. 7 for $499, about $100 more than Sony Corp.'s high-end PlayStation 4 Pro.

Lotte Pegs Chemical Unit's Malaysian IPO at $1.83 to $1.88 a Share

South Korea's Lotte Group plans to offer shares in its petrochemical unit in Malaysia at between $1.83 and $1.88, putting the total value of the IPO at $1.39 billion, which would be the country's biggest since 2012.

(END) Dow Jones Newswires

June 12, 2017 12:30 ET (16:30 GMT)