News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Kobe Steel Points Finger at Careless Management, Overworked Employees in Scandal

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Kobe Steel released a report Friday that blamed lax management and overworked employees for a product-quality scandal, saying the company has to restore trust to survive.

Richemont Profit Soars on Strong Growth

Richemont said its first-half profit jumped 80% to EUR974 million, bolstered by strong growth across all its divisions.

Allianz Profit Falls on Catastrophe Claims

Allianz reported a double-digit profit drop in the third quarter, hit by high natural catastrophe claims.

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Vedanta Posts Widened Loss

Vedanta Resources reported a widened net loss for the first half of fiscal 2018, hit by higher exceptional costs and despite revenue growth.

Social-Media App Musical.ly Is Acquired for as Much as $1 Billion

Musical.ly Inc., the maker of a lip-syncing app popular among teens and tweens, has agreed to be acquired by Chinese news and information site Beijing Bytedance Technology Co. for as much as $1 billion, according to people familiar with the matter.

AT&T and Regulators Try to Dial Back Tension Over Merger Talks

A day after disagreements between AT&T and the U.S. government over the company's proposed takeover of Time Warner spilled out into the open, both sides tried to mute tensions that threatened to mar negotiations.

U.K. Activist Investor Seeks Shareholder Vote to Remove LSE Chairman

U.K. activist investor TCI Fund Management Ltd. ratcheted up pressure on London Stock Exchange Group PLC to allow its current chief executive to remain in place by compelling the company to hold a shareholder vote on the removal of its chairman.

Nintendo's Game Plan to Level Up Switch Production

Nintendo plans to pick up the production pace for its hit Switch game console next year, showing the company's deepening confidence in the success of the device.

Outcome Health's Investors Receive Subpoenas From DOJ

Investors in the prominent Chicago advertising startup said in a court filing that they were receiving subpoenas from the Justice Department to aid in a fraud investigation into the company.

Disney Fleshes Out Its Streaming Plans

Walt Disney disclosed details of its coming streaming service, as it reported declines for three of its four core businesses in the latest quarter.

(END) Dow Jones Newswires

November 10, 2017 05:15 ET (10:15 GMT)