News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Target Posts Strong Holiday Sales Gains

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Target said holiday sales were strong both in its stores and online, as the retailer was boosted by healthy U.S. consumer spending as well as its own turnaround efforts.

Silicon Valley Reconsiders the iPhone Era It Created

A tussle between prominent investors and Apple over iPhone use by young people comes amid a nascent re-evaluation of the smartphone's social consequences within the industry that spawned it.

TD Bank Acquires Toronto-Based AI Startup Layer 6

Toronto-Dominion Bank said it has acquired Toronto-based startup Layer 6, a move aimed at bolstering the Canadian bank's artificial intelligence expertise amid a broader push by financial services firms in adopting the technology.

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Facebook Is Making a (Virtual) Comeback in China

The U.S. tech giant, whose main social-networking business is blocked in China, is working with Xiaomi to launch a virtual-reality headset called Mi VR Standalone.

Altice to Spin Off U.S. Arm as Part of Broader Overhaul

Altice NV intends to spin off its controlling stake in its U.S. arm as part of a broader reorganization that will split the company in two: Altice Europe, which would include its international holdings, and Altice USA Inc.

Endeavor Agrees to Acquire 160over90 for $200 Million

Endeavor has agreed to acquire branding and marketing agency 160over90, as the entertainment and sports giant aims to bulk up its marketing services arm.

Chinese Smartphone Makers Raise Concerns About a Mega Chip Deal

A potential merger between Qualcomm and Broadcom would create the world's third-largest chip company.

Samsung Electronics Expects Another Record Quarter

The South Korean giant's memory chips are in demand due to the spread of internet-connected devices and the tech industry's broader push into artificial intelligence.

Tech's Enormous Scale: Samsung Now Outspends Exxon and Shell Combined

The tech giant spent more money on capital expenditures last year than any other publicly traded company, investing $44 billion. It is a dramatic example of how technology and telecom firms have driven an uptick in global manufacturing investment.

U.S. Spy Satellite Believed Lost After SpaceX Mission Fails

An expensive, highly classified U.S. spy satellite is presumed to be a total loss after it failed to reach orbit atop a Space Exploration Technologies Corp. rocket on Sunday, according to industry and government officials.

(END) Dow Jones Newswires

January 09, 2018 09:15 ET (14:15 GMT)