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.

Mattel Slashes Dividend as CEO Frees Funds for Turnaround Effort

Mattel Inc. is cutting its quarterly dividend by more than half, as new Chief Executive Margo Georgiadis looks to free up money to help the toy maker modernize its brands for the digital world and expand in emerging markets.

GE Power Chief Exits After Losing Succession Race

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

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Saudi Aramco IPO Plans Slowed Over Where to List

A divide between Saudi Arabia's ruling family and executives of the state oil company over where to list is slowing the march toward a planned 2018 IPO, which could value Aramco as high as $2 trillion.

J&J to Add Drug Discovery, Early Research to Actelion

Johnson & Johnson plans to build the soon-to-be acquired Actelion business into a drug discovery-to-commercialization organization dedicated to pulmonary arterial hypertension.

Google Will Buy Modular Homes to Address Housing Crunch

Google owner Alphabet Inc. is finalizing an order to buy 300 modular apartment units from a startup for a building likely to serve as short-term housing for employees.

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.

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.

(END) Dow Jones Newswires

June 14, 2017 15:15 ET (19:15 GMT)