News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Buffett Promotes Two Executives, Setting Up Contest to Succeed Him

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Warren Buffett has elevated two longtime Berkshire Hathaway executives, Gregory Abel and Ajit Jain, to vice chairman roles, all but confirming speculation that one of them is in line to replace him.

Chinese Retailer's Latest Gig: Supplying Restaurants

As one of China's fastest-growing online retailers, built an in-house delivery and logistics operation to serve its primary business. It is now turning that know-how into a business delivering goods to restaurants and other merchants.

What the Tax Law Will Do to Bank Earnings

It is going to be a noisy quarter for bank earnings. Because of the tax-overhaul law, big banks are going to record a host of special charges that cut into fourth-quarter profit.

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Sears Obtains New Financing Amid Lower Sales

Sears Holdings said it had raised $100 million in new financing and is pursuing an additional $200 million from other parties.

Airbus Is Close to Securing Big Chinese Order, Macron Says

China will finalize orders for 184 Airbus A320 aircraft soon, French President Emmanuel Macron said following talks with his Chinese counterpart.

Apple Sets Date for China Data Handover

Apple said it will turn over its cloud operations in China to a state-owned local partner Feb. 28, complying with Chinese law mandating that customer data collected on the mainland be stored here.

China Swats Jack Ma's Ant Over Customer Privacy

Beijing's internet regulators scolded China's leading mobile-payments company for compromising privacy, putting pressure on firms to better protect personal data in a society subject to heavy state surveillance.

Earnings May Temper the Bank Rally

Bank shares have been riding high, seen by investors as among the biggest beneficiaries of tax reform and a strengthening economy. But this enthusiasm could soon collide with just mediocre fundamentals.

Why the U.S. Smartphone Market Is Hard to Crack

It may be of little comfort to Huawei now, but history shows that cracking the U.S. smartphone market takes more than money and friends.

Bitcoin Powers Big Returns for a Pair of ETFs

Bitcoin boosted the returns of two of the top-performing exchange-traded funds last year, signaling that some fund companies aren't waiting for regulators to approve a U.S. fund devoted exclusively to the cryptocurrency.

(END) Dow Jones Newswires

January 10, 2018 11:15 ET (16:15 GMT)