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China Vanke Founder Wang Shi to Step Down From Board

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Chinese tycoon Wang Shi said he will step down from the board of China Vanke, an announcement that comes as a prolonged takeover battle for the Chinese home builder appears to have reached an end.

Toshiba: Government-Led Group Is Preferred Bidder for Chip Unit

The deal is expected to raise about $18 billion, though it isn't clear if it can close quickly enough to keep the company afloat.

Tesla Replaces Chief of Self-Driving Software

Chris Lattner, who Tesla announced in January was hired from Apple Inc. as vice president of Autopilot software, has left Elon Musk's Silicon Valley auto maker.

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SoftBank Invests $100 Million in Cybersecurity Startup

Japan's SoftBank Group is investing $100 million into a Boston-based cybersecurity firm run by former Israel counterintelligence members, the latest high-profile cash injection into a bustling industry offering newfound defenses against global hackers.

Court Denies States' Request for Leftover Money From Sprint Settlement

A federal court ruled Tuesday that money left over from a consumer settlement fund must be transferred to the federal government's coffers, denying motions from state attorneys general and Sprint to redirect the funds to states.

Whirlpool CEO Jeff Fettig to Step Down in October

The chief executive of Whirlpool Corp., Jeff Fettig, will step down in October after holding the position for 13 years, the company said Tuesday.

AMD Launches Fight Against Intel in Lucrative Server-Chip Market

Advanced Micro Devices began selling a new generation of chips for the servers that drive computing in data centers, challenging Intel in that high-margin market for the first time in years.

Amazon's New Wardrobe Service Is Latest Threat for Apparel Stores

Amazon.com is giving shoppers another reason not to visit stores. The online giant is rolling out a free service to let its Prime members try on clothes at home, its latest attempt to crack into the fashion world.

Cisco Bets on Security to Drive Switch Sales

Cisco Systems Inc. is placing a major bet on security to revive sluggish sales of networking switches, its biggest business, as part of a multiyear effort to fend off competitors and turn around the struggling company.

Gymboree Offers No Recovery to Unsecured Bondholders

Gymboree Corp.'s unsecured bondholders and creditors are slated to receive nothing in the company's recently filed reorganization plan.

(END) Dow Jones Newswires

June 21, 2017 01:16 ET (05:16 GMT)