U.S. Lawsuit Links $2.2 Billion Deal to Malaysian 1MDB Scandal
Continue Reading Below
U.S. authorities are investigating the $2.2 billion purchase of a U.S. energy company by a Middle Eastern government investment fund that was arranged by Goldman Sachs and netted one investor a $300 million windfall in less than a week, according to a government lawsuit and people familiar with the investigation.
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.
J.Crew Tries to Ease Debt Load as Sales Decline Continues
J.Crew 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.
Continue Reading Below
J.P. Morgan Removes NBC News Ads Over Megyn Kelly Interview With Alex Jones
NBC anchor Megyn Kelly's plan to air an interview with right-wing provocateur Alex Jones has caused a firestorm to erupt on social media, but so far advertisers have remained quiet-with at least one notable exception.
Change at GE Likely to Head Off Fight With Trian
The departure of General Electric CEO Jeff Immelt should reduce the tensions that have been brewing with activist investor Trian Fund Management.
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.
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.
Goldman's Blankfein, Citi's Corbat Duped by Email Prankster
The chief executives of Goldman Sachs Group and Citigroup are the latest bank bosses to be hooked by an email prankster trolling top Wall Street brass, exposing a low-tech gap in banks' cybersecurity armor.
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.
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.
(END) Dow Jones Newswires
June 13, 2017 05:15 ET (09:15 GMT)