News Highlights: Top Company News of the Day

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Sprint Met With Buffett, Malone About Investment

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Sprint Chairman Masayoshi Son has engaged Warren Buffett and cable mogul John Malone in discussions about participating in a deal with the wireless company, people familiar with the situation say.

AT&T CEO Will Lead Distinct Telecom, Media Units After Time Warner Merger

AT&T plans to separate its telecom operations from its media assets after clinching a takeover of Time Warner. It also will keep CEO Randall Stephenson atop the company with two lieutenants.

J.P. Morgan Reports Strong Earnings but Trims Outlook

J.P. Morgan posted a record profit for the second quarter, helped by a lending boost in both its consumer and commercial businesses. But the bank trimmed its full-year outlook for growth in lending and net interest income.

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Citigroup's Revenue Rises Despite Slowdown in Trading

Citigroup said its second-quarter revenue grew 2%, topping Wall Street's expectations, as its trading desk saw a smaller-than-anticipated drop-off in activity.

Wells Fargo Gets Boost from Higher Rates but Lending Stagnates

Wells Fargo reaped the benefits of higher interest rates in the second quarter, which helped push its profit higher. But stagnant lending and weaker revenue in areas like mortgage banking overshadowed progress on the bottom line.

Fiat Chrysler Recalls 1.34 Million Vehicles

Fiat Chrysler said Friday it would voluntarily recall 1.34 million vehicles across the globe, amid concerns component failures could lead to inadvertent air bag deployments or be a potential fire hazard.

Startup Part-Owned by Kushner Brother Got Key Tech Invite

A White House technology summit last month featured leaders of the country's largest companies, including Apple, Amazon and Microsoft. Among them was a less-prominent figure: the CEO of OpenGov, a small startup partly owned by Jared Kushner's brother.

Investor Sues Arconic Over Flammable Panels

An investor in Arconic Inc. is accusing the company of deceiving shareholders by failing to disclose the risks connected to manufacturing aluminum panels that investigators say contributed to the spread of a deadly fire last month in a London apartment tower.

Sino-Forest Accused of Fraud by Canada Regulator

Canada's top securities watchdog said Chinese timber company Sino-Forest and four then-top officials engaged in fraud to mislead investors about its financial condition and timber assets.

Alfred Angelo Files for Bankruptcy Liquidation

Alfred Angelo, one of the largest bridal retailing operations in the country, filed for chapter 7 bankruptcy liquidation Friday after abruptly closing down its chain of stores.

(END) Dow Jones Newswires

July 14, 2017 17:15 ET (21:15 GMT)