News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Snap's Loss Nearly Quadruples

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Snap said its quarterly loss nearly quadrupled amid slowing revenue and user growth, sapped by intensifying competition from larger rival Facebook.

Google Cancels Meeting on Diversity, Citing Safety Concerns

Google canceled a companywide meeting about diversity just before it was set to begin Thursday, saying right-wing websites published the names of employees who had proposed questions, raising security concerns.

Investor Benchmark Capital Sues Uber Ex-CEO Kalanick

One of Uber's largest shareholders alleges Travis Kalanick defrauded directors into giving him more control over the board.

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Embattled Wells Fargo Plans Board Shake-Up

The board of Wells Fargo, grappling with fresh problems even as it tries to move past the bank's sales-practices scandal, is planning a shake-up that is likely to include Stephen Sanger stepping down as chairman.

Macy's and Kohl's Slow Sales Slump, but Investors Still Spooked

Macy's and Kohl's reported another quarter of shrinking sales that spooked investors, though the latest declines weren't as deep as they have been in recent quarters. Still, shares dropped.

News Corp Reports Loss on Write-Down of U.K. Assets

News Corp swung to a loss in the quarter ended in June, as the company wrote down the value of its U.K. newspaper assets while print advertising declines weighed on revenue.

British Columbia Vows to Block Pipeline Expansion

The government of British Columbia, Canada's westernmost province, vowed to use every legal option to stop construction of Kinder Morgan Inc.'s planned expansion of a pipeline connecting the Alberta oil sands with the Pacific Coast.

GE's New CEO Bets $2.7 Million He Can Revive the Stock

General Electric Co.'s new boss, John Flannery, bought about $2.7 million worth of company shares in his 401(k) retirement account this week, according to documents filed with the Securities and Exchange Commission.

Blackstone, Starwood Form Home-Rental Giant

Two of the country's largest rental-home owners, Blackstone's Invitation Homes and Starwood Waypoint Homes, have agreed to merge in a deal that would create a giant landlord with roughly 82,000 homes in 17 metro areas.

Babcock & Wilcox Agrees to Buy Back Private-Equity Stake a Day Before 72% Plunge

A private-equity firm that three months ago took a 10% stake in power-generating company Babcock & Wilcox Enterprises Inc. struck a deal to sell its position back to the company, dodging by one day a 72% plunge in the stock.

(END) Dow Jones Newswires

August 10, 2017 21:15 ET (01:15 GMT)