News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Apple Agrees to Store Data for Chinese Customers in China

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The iPhone maker will begin storing data for its customers in China with a government-owned company-a move that means relinquishing some control over its Chinese data.

Shell Sells Irish Gas Field Stake for $1.2 Billion to Canada Pension Fund

Royal Dutch Shell sold its stake in a controversial Irish gas field for up to $1.23 billion to one of Canada's biggest pension funds in a deal that will result in accounting losses of as much as $750 million for the Anglo-Dutch energy company.

Ex-Banker Sentenced to Prison After Pleading Guilty to 1MDB-Linked Money Laundering

A Singapore court sentenced a former banker to 4 1/2 years in prison after he pleaded guilty to a money-laundering offense and deception linked to his handling of allegedly misappropriated funds from Malaysian state investment fund 1MDB.

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ABM Industries Reaches Deal to Buy GCA Services for $1.25 Billion

ABM Industries, one of the nation's largest providers of janitorial and building services, reaches a deal to acquire privately held rival GCA Services Group for $1.25 billion in cash and stock.

The Price Dilemma Over a $16,000 Drug

Novartis recently discovered that a drug it sells for a group of very rare diseases could be used to treat a much more common ailment. There is just one problem: its $16,000-per-dose price tag.

Ex-Chief of Collapsed Bitcoin Exchange Mt. Gox on Trial

Prosecutors say Mark Karpelès, who faces charges of embezzlement, wrongfully spent $3 million of customers' money for personal use; he denies all wrongdoing.

Twitter Hires Former Goldman Executive Segal as CFO

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.

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.

EPA Moves to Roll Back Proposed Restrictions on Alaskan Mine

The EPA is moving to withdraw proposed restrictions on the development of the Pebble Mine in Alaska, a reversal from the agency's stance on the matter under the Obama administration.

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.

(END) Dow Jones Newswires

July 12, 2017 09:15 ET (13:15 GMT)