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.
Bill Ford Thinks His Company Lacks Vision-and That He Can Fix It
Ford Motor executive chairman Bill Ford this spring led a management shake-up to shift the company faster into electric vehicles, self-driving cars and ride-sharing services. "The role we're in now requires us to stick our necks out," he says in an interview.
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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.
Blackstone Buys Billions in Spanish Real-Estate Assets
Blackstone Group said it has agreed to acquire a majority stake in rescued Spanish lender Banco Popular Español's real-estate portfolio, a vote of confidence by the U.S. asset manager in Spain's robustly recovering economy.
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.
(END) Dow Jones Newswires
August 08, 2017 15:15 ET (19:15 GMT)