News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Immelt Successor to Take Broad Review of GE's Businesses

Continue Reading Below

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

GE's Next CEO to Get $5 Million in Target Pay but No Special Stock Award

General Electric Co.'s leadership reshuffle left the company's new chief with target annual pay of $5 million and a runner-up for the job with a shot at more than $7 million in GE shares if he sticks around for five years.

Uber Executive Emil Michael Leaves Company

Emil Michael, Uber Technologies Inc.'s business chief and one of CEO Travis Kalanick's closest lieutenants, has left after the board pushed for his removal following a months-long investigation into the company's workplace culture.

Continue Reading Below

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.

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.

J.Crew Tries to Ease Debt Load as Sales Decline Continues

J.Crew Group Inc. announced a move it hopes will ease its heavy debt load and give it more time to right its business, as the embattled retailer also reported its 11th consecutive quarter of same-store sales declines.

Xbox One X Console Won't Support Virtual Reality

Microsoft's new Xbox One X console won't support virtual reality, once considered one of the hottest bets in gaming.

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."

Online Lender SoFi Takes Step Toward Becoming a Bank

Online lender Social Finance Inc. has asked federal officials to grant the company a banking license, one of the most advanced efforts by a financial-technology startup to obtain the power to offer bank products and services in exchange for stricter regulation.

(END) Dow Jones Newswires

June 12, 2017 19:15 ET (23:15 GMT)