News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Berkshire Hathaway Takes Big Stake in Troubled Canadian Lender

Continue Reading Below

Berkshire said it has agreed to indirectly acquire a 38.39% stake in Canadian mortgage lender Home Capital Group Inc. as part of a rescue package.

Foxconn in Talks With U.S. States Over New Plant

Foxconn Technology Group is looking at several U.S. states as potential sites for its investment plans and wants to announce the first match as early as July.

Aviation Industry Seeks to Strengthen Cybersecurity Defenses

Escalating concerns about cyberthreats are prompting the aviation industry to devise an unlikely new safeguard: real-time warnings to pilots about potential hacking attempts.

Continue Reading Below

China Property Titan Knocks Back Speculation After Bonds, Shares Drop

Dalian Wanda Group, owned by billionaire Wang Jianlin, dismissed online speculation that lenders had issued a notice to unload bonds tied to the real estate conglomerate, which apparently sparked a drop in its units' stock and bond prices.

Beijing Is Investigating Some of China's Top Overseas Deal Makers

China's banking regulator has ordered the country's commercial banks to investigate loans made to a group of companies that have aggressively invested overseas in recent years.

How Uber Backers Orchestrated Kalanick's Ouster as CEO

Travis Kalanick's decision to step down as Uber's CEO was the culmination of weeks of maneuvering by some of the firm's biggest investors to force out the co-founder of the nearly $70 billion company.

Virgin Mobile to Become iPhone-Only Carrier

Virgin Mobile, the phone carrier founded by mogul Richard Branson, will become the world's first iPhone-only carrier.

Oracle's Cloud Business Lifts Profit

Oracle Corp. said Wednesday its quarterly profit rose 15% from a year earlier to $3.23 billion.

Mississippi Regulators Seek to End Southern Co. 'Clean-Coal' Plant

State officials want Southern Co.'s Kemper facility, which has already taken $7.5 billion and seven years to finish, to run using natural gas going forward, and don't want to pass on additional costs to electricity customers.

Citi Raids UBS for New M&A Head for EMEA

Citigroup has hired a senior investment banker from UBS Group to head up mergers and acquisitions for the U.S. bank's Europe, Middle East and Africa operations.

(END) Dow Jones Newswires

June 22, 2017 05:16 ET (09:16 GMT)