News Highlights: Top Company News of the Day

Features Dow Jones Newswires

AIG Strikes $5.56 Billion Deal to Acquire a Bermuda Insurer

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American International Group is acquiring Bermuda-based insurer Validus Holdings for $5.56 billion, as its new chief executive makes good on a promise to reverse nearly a decade of shrinkage stemming from its near collapse in 2008.

Dan Loeb's Third Point Calls for More Change at Nestlé

Activist investor Dan Loeb's Third Point is keeping pressure on Nestlé, saying the giant consumer company needs to do more to realign its portfolio, including getting out of its stake in cosmetics giant L'Oréal.

Celgene to Buy Juno Therapeutics for $9 Billion

Celgene said it agreed to buy Juno Therapeutics for $87 a share in cash, or about $9 billion, in a move that will expand Celgene's portfolio of blood-cancer drugs.

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Sanofi to Buy Hemophilia Drugmaker Bioverativ for Over $11.5 Billion

Sanofi said it would buy hemophilia drugmaker Bioverativ for more than $11.5 billion, as the French drugmaker looks to clinch a big deal while it braces for generic competition for its top-selling product.

With Online Luxury in Vogue, Richemont Snaps Up Yoox Net-a-Porter

Richemont said it would spend up to $3.3 billon buying the shares it doesn't already own in Yoox Net-a-Porter, one of the fashion world's most disruptive e-commerce companies, a sign of how the shift to online shopping is spreading to even the most expensive and exclusive purchases.

Bank of America: No More Free Checking for Customers With Low Balances

Bank of America has eliminated a free checking account popular with some lower-income customers, requiring them to keep more money at the bank to avoid a monthly fee.

Another Bank Posts Hit From U.S. Tax Reform-This Time It's UBS

Charges related to the corporate tax overhaul pushed UBS into a fourth-quarter loss, making it the latest bank to take a short-term hit from the recently enacted legislation.

Philadelphia Energy Solutions Puts Refinery Operation Into Bankruptcy

Philadelphia Energy Solutions affiliates responsible for more than one-quarter of the crude-oil refining capacity on the East Coast of the U.S.. filed for bankruptcy protection, amid "industrywide turmoil" driven by politics and economics.

Can New Flavors Reverse Diet Coke's Slump?

Coca-Cola Co. hopes four new flavors of Diet Coke and skinnier, redesigned cans hitting U.S. shelves this week will lure back lapsed soda drinkers and young people who have moved on to LaCroix sparkling waters.

Icahn, Deason Push for Xerox to Explore Sale

Two large Xerox investors, billionaires Carl Icahn and Darwin Deason, have formed an alliance and plan to encourage the printer and copier giant to explore a potential sale.

(END) Dow Jones Newswires

January 22, 2018 09:15 ET (14:15 GMT)