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.

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.

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.

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GM's Self-Driving Unit Launches Ride-Hailing App

GM's autonomous-vehicle arm has hatched its own ride-hailing app for self-driving cars, a sign the Detroit auto giant could sidestep its partnership with Lyft and develop its own network of robotaxis.

Web Retailer Fanatics Raises $1 Billion From SoftBank's Vision Fund

SoftBank and its Vision Fund are closing a $1 billion investment in online sports retail company Fanatics, part of a sizable bet the startup's licensing agreements give it the power to compete with Amazon.com.

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.

Westinghouse Says Work Ended on Nuclear Reactors 'Without Warning'

Westinghouse Electric Co. said the decision by owners of an unfinished nuclear project in South Carolina to stop construction came "without warning" and left employees being escorted off the site by armed personnel.

CVS Moves Deeper Into Doctors' Turf

CVS Health Corp., hit by slower store sales and the defection of some big insurance providers, said it will expand a program to help people manage chronic diseases including asthma and high blood pressure.

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.

(END) Dow Jones Newswires

August 08, 2017 17:15 ET (21:15 GMT)