News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Merrill Lynch Bars Trading of Bitcoin Fund, Futures

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Merrill Lynch has blocked clients and financial advisers who trade on their behalf from buying bitcoin, citing concerns over the cryptocurrency's investment suitability.

Neiman Marcus CEO to Step Aside

Neiman Marcus, the luxury retailer saddled with debt from two leveraged buyouts, is preparing to appoint a new chief executive.

Tesla's Lackluster Model 3 Sales Miss Lowered Wall Street Expectations

Tesla underwhelmed Wall Street with sales of its new Model 3 sedans in the fourth quarter, raising questions about whether the Silicon Valley luxury electric-car company can spark production this year and transform into a mainstream auto maker.

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VW, Hyundai Turn to Driverless-Car Startup in Silicon Valley

In the race to develop driverless cars, Volkswagen AG and Hyundai Motor Co. are placing bets on a Silicon Valley startup founded a year ago by the former leaders of autonomous vehicles at Google and Tesla.

Tesla's Model 3 Story Is Getting Old

The company's news on delivery of its Model 3 sedans in the fourth quarter badly missed the mark and continued a history of company forecasts poor enough to be construed as misleading.

Google and Intel Beware: China Is Gunning for Dominance in AI Chips

Chinese companies want to take the lead in building processors that use artificial intelligence to make phones, cars and home appliances interact with us more seamlessly. And they have a lot going in their favor.

Allergan Plans Job Cuts as Key Drugs to Lose Exclusivity

Allergan plans to lay off more than 1,000 workers as the drugmaker works to restructure its business ahead of sales declines expected for several key products, including blockbuster dry-eye drug Restasis.

Spotify Files to Go Public With Direct Listing, Cutting Out Underwriters

Spotify has confidentially filed paperwork with the Securities and Exchange Commission to list its shares on the New York Stock Exchange.

The Challenge for Vanguard's New CEO: Keep a Behemoth Growing

Vanguard's new chief executive, Mortimer J. "Tim" Buckley, has a challenge his three predecessors didn't: How to how to grow a firm that is already the world's second largest investment manager.

NFL Ratings Gave Up Even More Ground in Season

The decline in TV ratings for National Football League games accelerated in the recently completed 2016-17 regular season, though NFL games remain among the most-watched programming on television.

(END) Dow Jones Newswires

January 04, 2018 07:15 ET (12:15 GMT)