News Highlights: Top Company News of the Day

Features Dow Jones Newswires

French Court Throws Out Google's EUR1.11 Billion Tax Bill

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Alphabet's Google won a reprieve from one of its biggest legal battles in Europe when a Paris court threw out a EUR1.11 billion bill that France's tax authority has sought from the search giant for five years of back taxes.

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.

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

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."

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Apple Agrees to Store Cloud Data for Chinese Customers in China

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

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.

Investors Find Major Oil Deposit in Gulf of Mexico

One of Mexico's earliest private-sector energy investors says that it has struck it big with a significant oil discovery in Mexican waters.

Big Oil Stays Wary on Iran

Iran's ambitious agenda for its oil-and-gas industry is running up against the caution of big energy companies.

Wall Street Journal Reorganizes Newsroom, Creates Senior Jobs

The Wall Street Journal announced details of a broad editorial reorganization as part of its "WSJ2020" review, creating a new leadership structure with the aim of transforming the 128-year-old newspaper into a mobile-first news operation.

(END) Dow Jones Newswires

July 12, 2017 13:15 ET (17:15 GMT)