News Highlights: Top Company News of the Day

Features Dow Jones Newswires

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

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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.

Uber Executive Michael Leaves Company

Emil Michael, Uber's chief business officer and one of CEO Travis Kalanick's closest confidants, has left the company, according to an email sent to employees.

Facebook Feature to Allow Subscriptions to News Publications

Facebook may soon help its users do something unfamiliar on the platform: pay for news by building a feature that would allow users to subscribe to publishers directly from the mobile app.

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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.

GM's Opel Names New CEO Ahead of Sale to Peugeot

General Motors Co.'s European unit Opel appointed a new chief executive as Peugeot gets set to complete its more than $2 billion acquisition of the perennially money losing car maker.

Fox Tries to Gain Leverage Over Affiliates on Live Streaming

Fox is turning up the heat in a fight with its TV station affiliates over how to bring its programming to streaming-media consumers with a 24-hour feed on Hulu in markets where it hasn't reached deals with local stations.

Andreas Halvorsen's Viking Global Investors to Return $8 Billion

Viking Global Investors LP told clients Monday it would be giving back $8 billion of their money, saying its smaller size would give the stock-picking hedge fund "greater operating flexibility."

Altice USA Sets Price Range for IPO

Altice USA put a price range of $27 to $31 a share on its initial public offering of stock.

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.

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.

(END) Dow Jones Newswires

June 12, 2017 13:15 ET (17:15 GMT)