News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Uber Plans to Wind Down U.S. Car-Leasing Business

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Uber plans to wind down its U.S. subprime car-leasing division to stem unsustainably high losses, a major retreat just two years after starting the business.

Michael Kors, Ralph Lauren Make Progress on Turnaround Efforts

Two big U.S. brands, Michael Kors and Ralph Lauren, showed some progress Tuesday on efforts to wean themselves -- and shoppers -- off heavy promotions.

Google Fires Employee Who Wrote Memo Criticizing Diversity Initiatives

Google fired the employee who wrote an internal memo suggesting men are better suited for tech jobs than women. Google Chief Executive Sundar Pichai said the memo writer violated company policy.

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Time Plans Cost Cutting as It Reports Quarterly Loss

Time Inc. said it has identified more than $400 million in cost cuts to help reposition the business hurt by sliding revenue and print circulation. The company reported a quarterly loss of $44 million.

Wells Fargo Faces a New Auto-Loan Headache

Wells Fargo is facing more regulatory scrutiny related to auto insurance practices, this time over GAP insurance.

Abu Dhabi Sovereign Fund Extends 1MDB Payment Deadline

An Abu Dhabi sovereign-wealth fund said it has extended the deadline for Malaysia's 1MDB to make a payment of about $600 million, giving its former business partner until the end of August to honor its obligations.

Nissan to Sell Stake in Battery Joint Venture to China's GSR

Nissan agreed to sell its battery business, including its U.S. operations, to a Chinese investment firm, setting the stage for a potential ruling by a U.S. regulator on the transfer of sensitive technologies.

SeaWorld Grapples With Attendance Slide

SeaWorld Entertainment, troubled by a backlash over its use of its signature orcas, swung to a loss in its latest quarter as the company once again grappled with negative public perception cutting into attendance.

Dean Foods Drops as Milk Struggles Deepen

The Texas-based milk supplier cut its profit expectations for 2017 as its largest customer, Wal-Mart Stores Inc., readies its own milk-processing plant.

Low Volatility Takes Toll on Virtu's Profit Machine

Virtu Financial's stock tumbled after the electronic trading giant reported a steep slide in revenues, driven by stubbornly low volatility across financial markets.

(END) Dow Jones Newswires

August 08, 2017 13:15 ET (17:15 GMT)