News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Bank of America Profit Climbs, Driven by Higher Interest Rates

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Bank of America said its third-quarter profit rose 13% as higher interest rates helped the bank inch closer to meeting long-held profitability goals.

Wells Fargo Posts Weaker Earnings

Wells Fargo said third-quarter profit and revenue fell as the nation's third-largest bank by assets was hurt by a coming legal settlement and continues to struggle with fallout from last year's sales-practice scandal.

Glencore Strikes a Standstill Agreement with Bunge

Glencore PLC has a standstill agreement that temporarily prevents it from making a hostile bid for Bunge Ltd., according to people familiar with the matter, raising the possibility Glencore will renew its effort to acquire the grain trader.

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Bayer to Sell Assets to BASF for $7 Billion

Bayer said it has agreed to sell parts of its crop-science business to rival BASF, a bid to assuage regulators as the German chemical conglomerate seeks approval for its $57 billion acquisition of U.S. seed maker Monsanto.

PNC's Profit Rises on Growth in Commercial Lending

PNC Financial Services posted better-than-expected third-quarter earnings, helped by strong commercial lending growth that bucked an industrywide trend.

Hong Kong Regulator Drops Lawsuit Against UBS, Standard Chartered Over 2009 IPO

Hong Kong's securities regulator has dropped a lawsuit against UBS Group AG and Standard Chartered PLC over the banks' conduct in a 2009 initial public offering of a Chinese timber firm now in liquidation, according to people familiar with the matter.

Samsung's Leadership Crisis Deepens as CEO Plans Exit

The head of Samsung's components business, in a surprise move, announced plans to resign, acknowledging that the firm faces an "unprecedented crisis" and is struggling to find new growth prospects.

Kobe Steel Admits 500 Companies Misled in Scandal

The scandal at Kobe Steel involving falsified quality data continued to spiral Friday as the company admitted to misleading hundreds more customers and said the improprieties also took place at units in Malaysia, Thailand and China.

What's Old Is New Again at HP

About to close out its best showing in years, the question naturally hanging over HP Inc. is whether the storied tech company can pull off a repeat performance.

Uber Launches Appeal Against London Ban

Uber formally appealed the London transportation authority's decision to revoke its license to operate in the British capital, a move that allows it to continue working in the city until a final decision is made.

(END) Dow Jones Newswires

October 13, 2017 13:15 ET (17:15 GMT)