News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Facebook Shut Down Employee Chat Room Over Harassing Messages

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Facebook dismantled a popular anonymous discussion board for employees last year that had become a forum for conservative political debate that sometimes degenerated into racist or sexist comments.

Jim Hackett's Blank-Check Acquisition Company Finds a Target

Investors this spring gave former Anadarko Petroleum CEO Jim Hackett $1 billion to go forth and find yield. Now he's putting that money into the merger of exploration outfit Alta Mesa Holdings and pipeline company Kingfisher Midstream.

Deloitte Acquires Acne Agency to Boost Creative Services

Deloitte Digital has purchased creative agency Acne, the latest effort by a consulting firm to add services for marketers.

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Elliott Moves to Block Berkshire Bid for Oncor; Buffett Stands Pat

Elliott Management has purchased a slice of debt that would ensure the hedge fund's ability to block Warren Buffett's deal to buy power-transmission business Oncor, according to people familiar with the matter.

Sears Canada Chairman Preps Going-Concern Bid

Executive Chairman Brandon Stranzl intends to submit an offer for Sears Canada that would preserve the company as a going concern, according to a Wednesday memorandum filed in its insolvency proceedings.

Analog Devices Hires CFO From Wabco Holdings

Chip maker Analog Devices has hired Wabco Holdings' chief financial officer, Prashanth Mahendra-Rajah.

Mexican Supreme Court Backs América Móvil on Fees

Mexico's Supreme Court ruled a law requiring dominant phone carrier América Móvil SAB to complete calls from rival networks without charge is unconstitutional, leaving it up to regulators to determine interconnection fees.

Prosecutors Allege Insider Trading Involving Former Bank of America IT Worker

A former Bank of America employee and several friends at prominent Wall Street firms face criminal insider-trading charges over tips about potential mergers gleaned from a confidential deals database.

White House: Health-Insurer Payments Will Be Made in August

The Trump administration said the federal government would make a set of payments to insurers for August, despite threats from the president that the funding would be halted.

Cisco Predicts Another Drop In Sales

Shares of Cisco Systems fell more than 1% in after-hours trading after the networking company reported fiscal fourth-quarter revenue and adjusted earnings in line with expectations but predicted another drop in revenue in the next quarter.

(END) Dow Jones Newswires

August 16, 2017 23:15 ET (03:15 GMT)