News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Wells Fargo Fires 4, as Woes Spread to Investment Banking

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

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

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.

Merck to Shed Some U.S. Sales Reps to Cut Costs

Merck & Co. said it is laying off nearly 7% of its U.S. workforce in a reorganization the company says will cut costs and shift focus to products with growth potential.

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Whole Foods Data Breach Affected About 100 Taprooms, Restaurants

Whole Foods Market said Friday that a data breach involving credit-card charges made at the grocer's taprooms and full-service restaurants affected about 100 venues in its stores over a six-month period.

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.

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.

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.

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.

Sears Pension Gaps Pressure Government Safety Nets in Canada, U.S.

Sears Canada's decision to liquidate its assets has laid a $79.3 million pension liability at the door of the Ontario provincial government, people familiar with the matter said.

(END) Dow Jones Newswires

October 20, 2017 17:15 ET (21:15 GMT)