News Highlights: Top Company News of the Day

Features Dow Jones Newswires

AIG Retools Operating Structure Following Pledge From CEO

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AIG is shuffling its structure and top leadership ranks as the insurance giant looks to begin an expansion that is expected to include acquisitions.

GE Agrees to Sell Industrial Unit to ABB for $2.6 Billion

General Electric agreed to sell its industrial-solutions business to Switzerland's ABB in a $2.6 billion deal. A sign that GE's new chief is moving ahead with efforts to streamline the industrial giant. The unit has about 13,000 employees and had $2.7 billion in revenue in 2016.

Target to Boost Minimum Wages in Battle for Workers

Target said it is raising its minimum wage to $11 an hour starting next month and to $15 an hour within three years, as the retailer competes to fill low-wage jobs in a tighter labor market.

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Allergan CFO to Retire, Drugmaker Plans $2 Billion Stock Buyback

Allergan said Chief Financial Officer Tessa Hilado plans to retire but will stay on the job until her replacement is hired. The company also authorized a $2 billion share repurchase and announced plans to raise its dividend.

CEO Switch at Maker of Titleist Golf Balls

Acushnet Holdings Corp.'s chief executive is stepping down after spending more than 40 years working at the golf-equipment company, leaving his replacement to contend with slumping sales and a business model heavily reliant on growing the market for Titleist golf balls.

Microsoft Aims to Make Business AI Cheaper, Faster, Simpler

Microsoft Corp. plans Monday to unveil its first product in a new line of software aimed at taking on International Business Machines Corp. and others in the growing market to apply artificial intelligence to everyday business needs.

China Considers Rule Change That Could Aid Tesla

China is considering relaxing rules requiring foreign auto makers to have a local partner, a move that could pave the way for Inc. to build vehicles there.

China Fines Social-Media Giants for Hosting Banned Content

Chinese internet regulators said they have hit operators of three of the country's biggest social-media platforms with the maximum fine allowable under a new cybersecurity law for hosting fake news, pornography and other forms of banned content.

Uber Tries Compromise With London Regulators

Uber Technologies is examining concessions it could make to London to get its operating license back, while also preparing a legal appeal and rallying its users in the city to build support.

Unilever to Buy Korean Skin-Care Firm for $2.7 Billion

Unilever has agreed to buy Carver Korea, a Seoul-based maker of toners and moisturizers, for $2.7 billion, the latest in a string of skin-care acquisitions as it pivots toward higher-growth sectors.

(END) Dow Jones Newswires

September 25, 2017 11:15 ET (15:15 GMT)