News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Volvo to Switch to Electric, in First for Major Auto Firm

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Volvo will become the first major auto maker to abandon the conventional car engine-technology that has powered the industry for more than a century. All new Volvo models from 2019 would be either fully electric or a hybrid.

Vantiv Strikes $10 Billion Deal to Buy Worldpay

U.S. credit-card processor Vantiv will buy U.K. payments firm Worldpay in a deal that would create an industry giant with a market value of over $20 billion. J.P. Morgan, which had been looking at Worldpay, bowed out.

Lloyds CEO Reshapes Succession Plans With Promotions

Lloyds Banking Group promoted several executives ahead of a strategy revamp and in a bid to appease investors concerned that the bank had too few potential internal replacements for Chief Executive António Horta-Osório.

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Hedge Fund Och-Ziff Sees Stronger Returns

Och-Ziff Capital Management Group said its largest fund had its best performance in the January to June period since 2009, even as the hedge-fund industry deals with massive capital outflows in recent years.

Saudi Aramco Cuts Oil Prices in Asia As Competition Rises

Saudi Arabia's state-run oil giant Aramco said it would cut the price of its lighter crude grades to Asia in August, amid rising competition from rival producers in the Organization of the Petroleum Exporting Countries.

Baidu Head Takes Self-Driving Car to Beijing AI Conference

Self-driving cars may be the future of personal transportation, but they are still forbidden on the crowded streets of China's capital city-as Baidu Chief Executive Robin Li was reminded Wednesday.

Jeans Maker True Religion Seeks Bankruptcy Protection

Jeans maker True Religion filed for bankruptcy protection, the latest in a string of Southern California garment sellers to succumb to changing consumer shopping habits.

Vocus to Open Books to Suitor KKR

Vocus Communications has agreed to open its books to private-equity suitor KKR & Co., which has pitched a takeover offer worth about $1.66 billion.

China's HNA Discovers the Struggles of U.S. Dealmaking

Chinese conglomerate HNA purchased a fledgling U.S. online travel firm in late 2015. Just over a year later, that travel firm, Travana, has filed for bankruptcy amid a raft of litigation-a sign of HNA's broader struggles managing its multibillion-dollar acquisition spree.

Why Big Pharma Is Targeting China's Deadliest Diseases

Big Pharma is investing billions of dollars to tackle deadly diseases prevalent in China, developing new drugs to combat a lineup of top killers that differ from those in the West.

(END) Dow Jones Newswires

July 05, 2017 13:16 ET (17:16 GMT)