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Danone to Sell Stonyfield to Lactalis for $875 Million

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French dairy company Danone said it entered a binding agreement to sell its U.S. dairy business, Stonyfield, to Lactalis for $875 million to address U.S. competition concerns.

France's Total Set to Invest $1 Billion in Giant Iranian Gas Field

France's Total said it would sign a deal on Monday that finalizes a $1 billion investment in a giant Iranian gas field, capping months of negotiations over the first big move by a Western oil company into the country in years.

Brexit Could Cost Banks $17 Billion

Banks in the U.K. could be on the hook for $17 billion in costs to relocate certain activities to Europe after Brexit, according to a study by a finance trade group-a tab that could weigh on bank profits for years and ultimately hit European Union consumers.

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Caterpillar Faces New Questions in Probe

Federal investigators believe Caterpillar failed to submit numerous required export filings with the government in recent years, adding to questions facing the manufacturing giant, people familiar with the matter said.

Tesla Set to Deliver Its Lower-Cost Model 3 Cars July 28

Tesla Chief Executive Elon Musk indicated that the company would deliver on July 28 the first batch of its new Model 3 sedans, which at $35,000 are far less expensive than its two existing models.

Toshiba Hasn't Revealed That SK Hynix Could Get Stake in Chip Business

A plan for the sale of Toshiba's semiconductor unit includes an option for SK Hynix to eventually take a minority stake in the business, contradicting Toshiba's public statements.

Abraaj Acquires Kenya-Based Java House Group

Dubai-based private-equity fund Abraaj Group has acquired East Africa's most prominent upmarket coffee and casual-dining chain, Java House Group, in a landmark deal in the African consumer market.

Fairfax Ends Private Equity Sale Talks, Will Pursue Domain Spinoff

Australian newspaper publisher Fairfax Media said Monday it won't pursue a sale after two rival U.S. private-equity firms didn't go ahead with nonbinding bids, though it will spin off its prized Domain real-estate classifieds unit.

U.S. Rescinds Portion of Laptop Ban on Aircraft

The U.S. has partly rescinded a ban on the use of laptops on some U.S.-bound international flights only days after rolling out demands for enhanced security measures at overseas airports.

Fyre Festival Promoter Charged With Defrauding Investors

Fyre Festival, which was marketed as a high-end music festival in the Bahamas but resulted in a logistical fiasco that unfolded publicly on social media, is now at the center of a federal criminal investigation. William "Billy" McFarland, its 25-year-old promoter, was charged with defrauding investors to raise money for the high-end concert.

(END) Dow Jones Newswires

July 03, 2017 07:16 ET (11:16 GMT)