News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Wal-Mart Posts Strongest U.S. Sales in Nearly a Decade

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The world's biggest retailer posted its strongest quarterly U.S. sales growth in nearly a decade Thursday, boosted by a big jump in ecommerce and strong store traffic at a time when many traditional retailers are struggling to keep their business growing.

Germany's Siemens to Slash 6,900 Jobs

Germany's Siemens said it would cut 6,900 jobs as it wrestles with a sharp slowdown in the power-plant industry, the latest restructuring move by a global industrial giant.

Emerson Electric Boosts Takeover Offer for Rockwell Automation

Emerson Electric Co. boosted its takeover offer for Rockwell Automation Inc., ratcheting up an effort to bring its reluctant rival to the negotiating table and forge a new giant in industrial automation.

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Viacom's U.S. Revenue Lags

Viacom said ratings gains at its core TV networks helped it halt a yearslong slide in domestic ad revenue in the most recent quarter. But the company expects declines in distribution revenue to continue through the next fiscal year.

Merrill Lynch's 2018 Pay Plan Spurs Some Dissent in Broker Ranks

Merrill Lynch's pay plan for 2018 is stirring opposition among some veteran brokers, underscoring tensions in an industry that faces growing competitive pressure and an aging workforce.

PayPal Makes Growth Play as Market Cap Tops $90 Billion

PayPal said it agreed to sell Synchrony Financial nearly $6 billion in loans it made to online shoppers, a deal that will give the payments company significant cash that it can use for acquisitions or share buybacks.

Best Buy Pinched by Later iPhone Launch

The electronics retailer attributed its lower revenue in its mobile business to Apple's iPhone X going on sale in November, the first month of the fourth quarter, rather than during the third quarter.

Stitch Fix Might Struggle to Fetch Its Target Valuation in Its IPO

Fashion startup Stitch Fix is likely to price its shares below its target range in its initial public offering due to concerns about competition and long-term growth prospects, according to people familiar with the deal.

Meredith Pursues Time Inc. With Backing From Koch Brothers

Meredith has lined up financing commitments from several banks as well as the billionaire Koch brothers in pursuit of a takeover of Time Inc.

Scana Proposes to Lower Rates After Ending Nuclear Plant Project

Scana said it would absorb some of the construction costs from its failed nuclear plant project and rollback rates for South Carolina utility customers, as it faces pressure from state regulators and consumer groups over its handling of the development.

(END) Dow Jones Newswires

November 16, 2017 13:15 ET (18:15 GMT)