News Highlights: Top Company News of the Day

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Smoke, Then Fire: Uber Knowingly Leased Unsafe Cars to Drivers

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Chasing breakneck growth, the ride-hailing giant bought Honda SUVs in Singapore subject to a recall. Then one caught fire, sparking a panic at the company. The episode, which wasn't previously public knowledge, adds to the list of crises that unfolded at Uber on the watch of former Chief Executive Travis Kalanick.

Avon CEO to Step Down Amid Activist Investor Pressure

Avon said that Chief Executive Sheri McCoy will resign in March, as the company faces pressure from activist investors to make faster progress on its corporate turnaround plan.

Teva Hit by Increased Competition in U.S. Generics

Investor concerns about Teva, which is grappling with a leadership vacuum and industry headwinds, mounted when the world's biggest seller of generic drugs offered a bleak financial update that sent shares reeling.

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Monsanto Employee Emails Show Efforts to Marshal Scientists

An escalating legal battle between Monsanto and a plaintiffs' law firm offers an unusual look inside how the world's largest seed company defended a controversial herbicide.

'London Whale' Has a New Target: J.P. Morgan

The U.S. case against two former J.P. Morgan traders charged with concealing billions in losses fell apart because a key witness known as the London Whale shifted blame to CEO James Dimon and other top executives.

FedEx to Skip Holiday Surcharges for Most Orders

FedEx said it won't charge additional fees for most orders during the holiday season, in contrast with UPS, undercutting its main rival as they battle for e-commerce customers.

Aetna Profit Rises on Better Pricing, Strategy

Aetna reported a stronger profit for its second quarter, boosted by limited medical spending and better-than-expected results from Affordable Care Act programs intended to reduce insurers' risk on health-law insurance plans.

21st Century Fox, ION In Talks for Local Television Joint Venture

21st Century Fox and ION Media Networks Inc. are in talks to create a joint venture that would combine their respective local television station holdings, people familiar with the matter said.

From Driverless Cars to Flying Cars: Former Google Engineer Also Worked on Larry Page's Project

Google co-founder Larry Page's flying-car startup enlisted star Google engineer Anthony Levandowski to work on the project, according to people familiar with the matter, months before Mr. Levandowski left the tech giant last year, allegedly with trade secrets, for rival Uber Technologies Inc.

Dover Explores Strategic Alternatives for Most of Its Energy Business

Dover is exploring strategic options for most of its energy business, including a sale, spinoff or a merger. A sale could fetch between $3 billion and $4 billion.

(END) Dow Jones Newswires

August 03, 2017 17:15 ET (21:15 GMT)