News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Facebook Sets Goal of a Billion Virtual-Reality Users, Unveils New Headset

Continue Reading Below

Facebook Inc. Chief Executive Mark Zuckerberg announced an ambitious goal of getting a billion people into virtual reality and said he wants to ensure the technology is "a force for good."

Mantra Agrees to A$1.18 Billion Takeover by France's Accor

Mantra Group said it has agreed to a more than US$900 million cash offer from France's Accor, bringing together the two largest hotels groups in Australia.

iHeart Opens Debt Restructuring Talks With Creditors

IHeartMedia Inc. met with two large creditor groups on Wednesday for the first time since the company first launched multibillion-dollar debt exchange offers in March, according to people familiar with the matter.

Continue Reading Below

Weinstein Co. Considers Delaying Release of 'The Current War'

Weinstein Co.'s challenges continued to pile up following the ouster of co-chairman Harvey Weinstein, with the company reassessing plans for future movie releases and one business partner tightening payment terms for routine work.

Beijing Pushes for a Direct Hand in China's Big Tech Firms

The Chinese government is pushing some of its biggest tech companies-including Tencent, Weibo and a unit of Alibaba-to give the state a stake in them and a direct role in corporate decisions.

Qualcomm Is Fined $773 Million by Taiwan Over Patent Practices

Qualcomm was fined about $773 million by the Taiwanese government, the latest setback as the chip maker defends its patent-licensing business against an international wave of regulatory and legal challenges.

Oculus Vision Is a Long Way From Reality

Mark Zuckerberg has answered the question of whether he is still committed to virtual reality. Other questions remain unanswered.

Retailer J. Jill Cuts Sales Targets

Women's clothing retailer J. Jill painted a bleak picture for its October quarter, blaming sluggish sales and traffic on "product and marketing calendar issues."

How Alibaba Will Foot a Growing Research Bill

Alibaba's plan to triple research and development spending may not turn out to be as ambitious as it seems at first glance.

AllianceBernstein Considers Moving Some Staff Away From New York

AllianceBernstein Holding LP is in talks to shift some staff out of New York in the latest example of money managers trying to cut expenses as investors plow money into index-tracking funds with lower fees.

(END) Dow Jones Newswires

October 12, 2017 03:15 ET (07:15 GMT)