News Highlights: Top Company News of the Day

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Twitter Hires Former Goldman Executive Segal as CFO

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Twitter tapped former Goldman Sachs Group executive Ned Segal as its new chief financial officer, a step toward filling vacancies created at the social-messaging company over the past year.

Zimmer Biomet Announces Leadership Transition

Medical-device maker Zimmer Biomet Holdings Inc. said David C. Dvorak stepped down as chief executive and director effective Tuesday, as the company struggles to boost sales and profits amid production problems.

Amicus Gets Nod From FDA to Submit Experimental Drug for Approval

A biotechnology company said the U.S. Food and Drug Administration allowed it to submit an experimental drug for approval without running an additional clinical study that the agency previously demanded.

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Gymboree to Close About 350 Stores

Children's retailer Gymboree, which filed for bankruptcy last month, will close about 350 stores as part of its restructuring plan, the company said Tuesday.

Ex-Insys Saleswomen Plead Guilty in Opioid Prescription Kickback Schemes

Two former pharmaceutical saleswomen pleaded guilty on Tuesday to bribing doctors in exchange for prescribing a powerful fentanyl medication made by Insys Therapeutics Inc., the troubled drugmaker facing multiple investigations by state and federal prosecutors.

Pemex Cancels $100 Million Contract with Odebrecht

Mexican state oil giant Petróleos Mexicanos said Tuesday it canceled a $100 million contract with Odebrecht SA, the Brazilian construction firm that admitted to paying some $800 million in bribes across 12 countries.

Time Inc., Seeking a Refresh, Explores Renaming Itself

Time Inc. is considering a major rebranding that could include a corporate name change, as the publisher tries to position itself as a modern media company with growing digital and video ventures.

Facebook to Show Ads on Messenger App

Facebook has spent years developing two of the world's most popular messaging apps. Now, with slowing revenue growth in its core product, it wants to cash in.

PayPal Hires Former Executive for Lending Business

PayPal Holdings Inc. said Tuesday it has hired Mark Britto, a financial-technology entrepreneur and a former executive at Inc., to lead its lending business.

Intel Fires Back At Rivals With New Line of Server Chips

Intel on Tuesday brought to market a new generation of chips used in the servers that run data centers, firing back at competitors who lately have moved to challenge its hegemony in its most profitable market

(END) Dow Jones Newswires

July 11, 2017 21:15 ET (01:15 GMT)