News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Li Ka-shing to Retire as Chairman of His Global Empire by Next Year

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The Hong Kong billionaire, for decades one of the world's wealthiest tycoons, has told associates he plans to step down as chairman of his global conglomerate, CK Hutchison, by next year.

Australian Regulator to Approve Tabcorp-Tatts Merger

An Australian regulator plans to approve a tie-up between wagering firms Tabcorp Holdings and Tatts Group, after a bidding war that had attracted interest from a consortium including private-equity firm KKR.

Big Oil Steps Up Support for Carbon Tax

Some of the world's largest oil companies and the country's biggest auto maker are joining a group that is pushing the U.S. government to tax carbon in an effort to slow climate change.

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Brazil's Petrobras Settles Lawsuit With Shareholder Vanguard

Brazilian state-run oil company Petróleo Brasileiro SA, or Petrobras, said its board has agreed to settle a shareholder lawsuit filed by Vanguard Group to recover corruption-related losses.

Boeing Eyes Higher Sales in Parts and Services

Boeing Co. is doubling down on a profitable parts and services business that could bring the plane maker into competition with its own suppliers.

A.M. Castle Files for Chapter 11 With Deal in Hand

A.M. Castle filed for chapter 11 with a plan backed by a group of hedge funds, including Highbridge Capital Management, which will swap debt for equity in the reorganized company.

GM Laying Off About 1,000 Workers Amid Downturn in Passenger-Car Sales

General Motors will eliminate a shift at a sedan plant in Kansas City, Kan., laying off about 1,000 people as the nation's largest auto maker continues to shed thousands of factory jobs amid a sharp downturn in demand for passenger cars.

Citigroup's Plan to Revive Its Lagging Stock

Investors want Michael Corbat to change the narrative at Citigroup. Investors and even top executives at the bank say it is time for Mr. Corbat to shift to offense by boosting growth in areas like credit cards, Wall Street stock trading and retail banking.

FTC to Try to Block DraftKings-FanDuel Merger

The Federal Trade Commission said it would file an antitrust lawsuit that seeks to block the proposed merger of fantasy sports companies DraftKings and FanDuel, alleging the deal would harm consumers who play daily fantasy contests.

Sen. Warren Calls for Removal of 12 Wells Fargo Directors

Sen. Elizabeth Warren (D, Mass.) is urging the Federal Reserve to remove a dozen Wells Fargo board directors who served during the bank's sales-practices scandal, according to a letter reviewed by The Wall Street Journal.

(END) Dow Jones Newswires

June 20, 2017 01:16 ET (05:16 GMT)