News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Walgreens Ends Rite Aid Merger, to Buy Half Its Stores

Continue Reading Below

Walgreens Boots Alliance and Rite Aid nixed their $9.4 billion merger agreement and reached a new deal in which Walgreens will instead buy half of Rite Aid's stores for $5.18 billion in cash.

Fox's Bid for Sky Set for More U.K. Scrutiny

The U.K. government said it was likely to require further scrutiny of 21st Century Fox's $15.1 billion bid to buy the 61% of British TV giant Sky it doesn't already own.

Pine River Capital to Spin Off Nearly $2 Billion Hedge Fund

Pine River Capital Management plans to spin off a nearly $2 billion government bond-trading fund into a standalone firm Jan. 1, in what is likely to be one of the biggest new hedge-fund launches next year.

Continue Reading Below

Citigroup Doubles Dividend After Stress Test Success

Citigroup Inc. is set to pay out far more than it is expected to earn in the coming year, a major milestone as the bank seeks to revive its lagging stock. It will double its quarterly dividend.

Staples in $6.9 Billion Deal With Sycamore

Private-equity firm Sycamore Partners agreed to buy Staples Inc. for about $6.9 billion, a bold bet on a company whose sales have been shrinking in recent years.

Berkshire Hathaway On Path to Be Top Bank of America Holder

The Federal Reserve said Bank of America can raise its dividend, which could prompt Warren Buffett's firm to swap its preferred shares in the bank into about $17 billion worth of common stock.

A New Problem for Keystone XL: Oil Companies Don't Want It

Keystone XL is facing a new challenge: The oil producers and refiners the pipeline was originally meant to serve aren't interested in it anymore.

The Latest UPS Delivery Vehicle Isn't a Drone, It's a Golf Cart

UPS plans use golf carts to deliver packages in Kentucky during the holiday season instead of expanding its fleet of delivery trucks, a move that is rankling the local Teamsters union.

Amazon's Whole Foods Deal Adds Pressure on Grocery Services to Deliver

The impact of the e-commerce giant's Whole Foods deal on online grocery services is still unclear, but one thing is certain: Competition is heating up. From Instacart to Peapod, firms are racing to gain a larger share of the fast-growing market.

Google Must Remove a Search Result Globally, Canada Court Rules

Canada's top court ruled that Google can be forced to remove search results globally, adding to the constraints governments and courts are exerting over tech giants as those companies' influence grows.

(END) Dow Jones Newswires

June 29, 2017 09:16 ET (13:16 GMT)