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CSX Loses $4 Billion in Value After CEO Takes Medical Leave

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CSX lost about $4 billion in market value after Chief Executive Hunter Harrison was placed on medical leave, a stark reversal for investors who had shrugged off concerns earlier this year about the health of the renowned railroad turnaround artist.

Boeing, Airbus Sales Imperiled as Trump Administration Formulates Iran Plan

The Trump administration is advancing a strategy that could derail efforts by Boeing and Airbus to sell hundreds of jetliners to Iranian airlines, U.S. officials said.

P&G Concedes Proxy Fight, Adds Nelson Peltz to Its Board

Procter & Gamble said it would add activist investor Nelson Peltz to its board, ending weeks of intrigue after the biggest and most expensive proxy battle ever fought essentially finished with a tie.

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KKR to Buy Unilever's Spreads Business for $8 Billion

U.S. private equity giant KKR agreed to acquire Unilever's margarine and spreads business in a deal that values the unit at $8.03 billion, making it one of the largest European acquisitions by a buyout firm this year.

Airbus Upheaval Triggers Search for New CEO

Airbus is hunting for a new chief executive to navigate it through a spell of heavy turbulence, with Europe's largest plane maker facing investigations over alleged corruption and far-reaching departures among its senior ranks.

Deutsche Bank Was Asked for Information on Transactions Potentially Linked to Michael Flynn

Deutsche Bank has been asked by U.S. government authorities to hand over information about transactions that could be linked to former national security adviser Michael Flynn or entities connected to him, according to people familiar with the matter.

SpaceX Successfully Launches Reused Booster for NASA, a First

Space Exploration Technologies successfully launched a refurbished cargo capsule atop a previously used rocket toward the international space station, a milestone following its launch of the first private spacecraft to Earth orbit and back seven years ago.

Brazil's Odebrecht Chairman Says Will Step Down in 2018

Emilio Odebrecht, chairman of troubled Brazilian industrial group Odebrecht, said he will resign from the engineering conglomerate next year.

H&M Shares Plunge as Pivot to Digital Falls Short

Shares in Hennes & Mauritz's dropped more than 15% after the fashion retailer reported weaker-than-expected fourth-quarter sales.

Sirius XM Satellite Radio to Pay Higher Royalty Rate Starting in 2018

Sirius XM Holdings Inc. will pay almost 41% more for the music it plays on its satellite-radio service starting next year, the federal Copyright Royalty Board decided late Thursday, though labels and artists feel the increase still falls short.

(END) Dow Jones Newswires

December 17, 2017 21:15 ET (02:15 GMT)