News Highlights: Top Company News of the Day

Features Dow Jones Newswires

AT&T's Profit Rises as Customers Bundle Services

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AT&T kept losing phone and TV subscribers in its core U.S. market but enjoyed a more profitable second quarter, thanks to customers with bundled services.

GM's Profit Drops as It Pulls Back Abroad to Bet on U.S. Market

General Motors' second-quarter net income plunged 42% on losses related to the sale of its European business and one-time charges linked to the company's exit from some emerging markets.

Citigroup Aims High With Profit, Capital-Return Targets

Citigroup led bank stocks higher Tuesday after telling investors it is aiming for $60 billion or more in capital returns to shareholders through 2020 and that it hopes in coming years to earn $20 billion annually.

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Michael Kors Shops for Glamour, Buys Jimmy Choo for $1.2 Billion

Luxury-fashion company Michael Kors has reached a deal to buy Jimmy Choo for around $1.2 billion, giving it a new avenue for growth as its core handbag market slows.

Former VW Executive to Plead Guilty in Emissions-Cheating Case

Former Volkswagen compliance executive Oliver Schmidt agreed to plead guilty in the U.S. to criminal charges stemming from his alleged role in the German auto maker's yearslong emissions deception.

Celgene Settles Lawsuit Over Improper Promotion of Cancer Drugs

Drugmaker Celgene Corp. agreed to pay $280 million to the U.S. and many state governments to settle a former sales manager's lawsuit accusing the company of improperly promoting two cancer drugs and causing false reimbursement claims to be submitted to federal and state health-insurance programs.

Blue Apron Co-Founder to Step Aside as Operating Chief

Blue Apron said co-founder Matthew Wadiak will step down as chief operating officer and serve as a senior adviser to the food-delivery startup

Petronas Ends Canadian LNG Project

Malaysian state-owned energy company Petronas said it was ending its multibillion-dollar plan to build a natural-gas export terminal on Canada's west coast, saying prolonged low natural-gas prices doomed the project.

McDonald's Brings Back Customers With $1 Drinks, New Burgers

McDonald's posted better-than-expected earnings and said its $1 drinks promotion and a new line of burgers helped reverse a sales slump in the U.S.

U.S. Audit Regulator Sanctions Hong Kong-Based Accounting Firm

The U.S. government's audit regulator has barred the Hong Kong affiliate of accounting firm Crowe Horwath from auditing U.S.-traded companies after the firm refused to cooperate with the regulator's investigation of its work for a Chinese company.

(END) Dow Jones Newswires

July 25, 2017 19:15 ET (23:15 GMT)