News Highlights: Top Company News of the Day

Features Dow Jones Newswires

GM Extends Summer Break Amid Industry Slump, Sedan Glut

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General Motors will extend the typical summer shutdown at certain U.S. factories to deal with slumping sales and bloated inventory, a sign the industry's hot streak is grinding to a halt.

GE Power Chief Announces Retirement After New CEO Picked

Steve Bolze, once a top candidate to be the next chief executive of General Electric, is retiring from the company in July.

GenOn Energy Files for Chapter 11 Bankruptcy Protection

GenOn Energy Inc. filed for chapter 11 bankruptcy Wednesday to slash $1.8 billion in debt and settle accusations that parent NRG Energy Inc. improperly extracted over $520 million from the subsidiary.

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Mattel CEO's First Big Test: What to Do With the Dividend

Margo Georgiadis, Mattel Inc.'s new chief executive, is set to meet with analysts today about whether the toy maker will cut its generous shareholder dividend as it tries to recover from a disappointing year.

Nike, Universal Studios, Sanrio in EU Antitrust Probe

The EU's antitrust regulator opened three separate formal investigations into licensing and distribution practices by Nike, Japan's Sanrio, and Universal Studios in Europe, the latest salvo by the watchdog in its bid to tear down barriers for consumers shopping online in the bloc.

Fiat Chrysler Looks to Bring Muscle Back to Motor City

The U.S.-Italian car maker bets big on horsepower with its latest launches, as compact cars fall out of favor. But it comes at a cost.

York Capital Names Two Eventual Successors for Founder Jamie Dinan

Jamie Dinan has named two successors to lead his hedge-fund firm York Capital Management in the future.

Activist Investor: BHP Board Presided Over Destruction of Market Value

Activist investor Elliott Management accused longstanding BHP Billiton board members of standing by while billions of dollars in market value were erased in recent years.

IBM Launches Watson for Financial Regulation

IBM on Wednesday formally launched a Watson product for financial regulation, rolling out artificial-intelligence tools to help financial institutions comply with rules and detect possible financial crimes.

IBM to Help BMW Ride on the Cloud

International Business Machines Corp. said Wednesday it is working with BMW to provide cloud-based data management for the German automaker's recently launched connected car initiative, a move by the centenarian tech giant.

(END) Dow Jones Newswires

June 14, 2017 11:16 ET (15:16 GMT)