News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Google Faces Record EU Antitrust Fine

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The European Union's antitrust watchdog in the coming weeks is set to hit Alphabet's Google with a record fine for manipulating its search results to favor its own comparison-shopping service, according to people familiar with the matter.

Lawsuit Against GE Finance Unit Over Petters' Fraud Heads to Trial

A lawsuit against General Electric Co.'s finance unit over its relationship with convicted businessman Thomas Petters, whose $40 billion empire collapsed in 2008, will move to trial as a result of a bankruptcy judge's ruling on Thursday.

Pimco's New Bond King Is Nothing Like Bill Gross

Bill Gross, Daniel Ivascyn's predecessor at Pimco, was known as the "bond king." But the firm's current investment chief would rather be called just about anything else.

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BHP Billiton Names Ken MacKenzie as New Chairman

BHP Billiton has turned to a packaging-industry veteran to head its board, appointing director Ken MacKenzie to succeed Jac Nasser when he retires after seven years as chairman.

MacKenzie's Special Sauce Could Make BHP Taste Better

BHP'S new chairman has proven turnaround chops and the support of activist investor Elliott. But replicating his stellar performance at Amcor in the mining sector could prove challenging.

How Anbang Could Clog China's Financial Plumbing

Financial stress at Anbang, a key lender to other Chinese financial institutions, could quickly ripple through China's banking system.

Justice Department Probing Booz Allen Accounting, Billing Practices with U.S.

The Justice Department is conducting a civil and criminal investigation into Booz Allen Hamilton's cost accounting and indirect cost charging practices with the U.S. government, the consulting firm said in a securities filing.

Merrill Lures $300 Million Morgan Stanley Team

Merrill Lynch has hired two Morgan Stanley brokers who oversaw $300 million in assets, a move that comes as the brokerage reworks its recruitment deals.

Toys 'R' Us Has a Baby Problem

Toys "R" Us executives blamed the retailer's latest quarter of shrinking sales on the baby business, where sales of strollers, cribs and diapers are slowing or moving online.

Private-Equity Firms Stand to Benefit From Court's Curb on SEC

A recent decision by the U.S. Supreme Court that curbed the government's enforcement powers over Wall Street could hurt efforts to penalize private-equity managers over fees that the government considers poorly disclosed to investors.

(END) Dow Jones Newswires

June 16, 2017 07:16 ET (11:16 GMT)