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NRG to Sell Assets, Slash Costs, Bowing to Activist Pressure

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Buckling to pressure from activist investors, NRG Energy said Wednesday that it would sell up to $4 billion in assets, slash costs and lower its debt as part of a "transformation plan."

RBS to Pay $5.5 Billion to Settle Mortgage-Backed Securities Probe

Royal Bank of Scotland agreed to pay $5.5 billion to a U.S. agency to settle a probe into its sale of toxic mortgage-backed securities in the runup to the financial crisis.

Apple Agrees to Store Data for Chinese Customers in China

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 data.

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J.P. Morgan Names New Government Relations Head

J.P. Morgan Chase is naming a former chief of staff to two House majority leaders as its new head of government relations.

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.

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.

Web Firms Protest Efforts to Roll Back Net Neutrality

Dozens of major online firms launched protests against Republican efforts to roll back Obama-era net-neutrality rules, in an escalation of tensions over Washington's role in the internet.

(END) Dow Jones Newswires

July 12, 2017 11:15 ET (15:15 GMT)