News Highlights: Top Company News of the Day

Features Dow Jones Newswires

New GE Chief Slashes Forecasts, Plans to Exit $20 Billion in Businesses

Continue Reading Below

GE's quarterly earnings fell as it incurred hefty restructuring charges during CEO John Flannery's first official quarter at the helm, and the new CEO pledged to exit more than $20 billion of the company's businesses.

Wells Fargo Fires 4, as Woes Spread to Investment Banking

Wells Fargo has fired four foreign-exchange bankers amid an investigation into that business by both the bank and regulators.

Procter & Gamble Puzzled by Weak Consumer Spending

Procter & Gamble recorded sluggish growth during the first quarter as it battles a challenging market for consumer-goods makers.

Continue Reading Below

EU Antitrust Authorities Raid BMW's Headquarters

European Union authorities have raided BMW's offices over concerns that several German car makers violated the bloc's cartel rules through agreements that might have suppressed technology costs.

Wisconsin's Foxconn Deal Highlights How States Dangle Cash as a Lure

Wisconsin's $3 billion bid this summer to land Foxconn Technology Group's first major U.S. factory looked smaller than that of a neighboring state's, but included an increasingly popular feature that likely made the difference: cash.

Third Point Takes Stake in Dover, Calls for Split

Activist investor Daniel Loeb's Third Point has taken a stake in industrial conglomerate Dover, calling on the company to separate its energy business and improve results.

Activist Investor to Push Nestlé For Further Changes

Activist investor Daniel Loeb praised Nestlé's recent moves to raise shareholder value but indicated he will continue to push the packaged foods giant to make further changes.

Japan's SoftBank Plans Second Giant Tech Fund

SoftBank Group Corp., which runs what is already the world's biggest technology investment fund, is planning to create a second fund that could be even larger, according to people close to the Japanese telecommunications and investment giant.

AmEx Chief's Mission: Get Millennials, Keep the Rich

Incoming American Express CEO Stephen Squeri is looking to regain the cachet of the AmEx brand, both for millennials who don't view it the same way as their parents and for established customers who have been wooed by banks offering better services and more perks.

First Data to Buy BluePay for $760 Million

First Data said it has reached a deal to buy payments-processing firm BluePay Holdings.

(END) Dow Jones Newswires

October 20, 2017 15:15 ET (19:15 GMT)