News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Novartis 4Q Profit Rises, Buoyed by Sales of New Drugs

Continue Reading Below

Novartis AG said its fourth-quarter pretax profit increased on higher income from associated companies and strong sales of newer drugs, which helped offset the impact of generic competition.

Antofagasta Says 4Q Copper Production Fell 1.3% on Quarter

Antofagasta PLC said on Wednesday that copper production in the fourth quarter of 2017 fell 1.3% quarter on quarter, while gold production fell 32%, citing lower grades and recoveries at its Centinela mine in Chile.

Toys 'R' Us to Close About 180 U.S. Stores This Year

Toys 'R' Us plans to close about 180 stores in the U.S. as the retailer seeks an exit from bankruptcy proceedings.

Continue Reading Below

Weinstein Co. Advances Toward Sale

Weinstein Co.'s owners have entered exclusive negotiations to sell the embattled studio to a group led by businesswoman Maria Contreras-Sweet for a little more than $500 million, people close to the talks said.

Clash Between Founder and Protégé Plunges Och-Ziff Into Crisis

Och-Ziff Capital Management faces turmoil as founder Daniel Och upends plan for James Levin to succeed him as head of the U.S.'s largest publicly traded hedge fund. Behind the rift: money and control.

Musk Could Net Billions by Hitting Tesla's New Milestones

Tesla unleashed a bold pay package for Chief Executive Elon Musk that again ties his compensation entirely to key performance benchmarks. This time, the goals take the electric-car maker to cosmic heights, including an ultimate aim of hitting $650 billion in market value.

Bank of America Expands Office Space in L.A.

Bank of America has renewed its office lease in downtown Los Angeles and taken more space as competition for office tenants heats up among landlords.

Disney to Pay $1,000 Bonuses

Walt Disney Co. will pay $1,000 cash bonuses to more than 125,000 workers and put $50 million into a new program to cover tuition costs for hourly workers, the company said Tuesday.

Minnesota Public Radio Defends Firing of Host Garrison Keillor

Two months after cutting ties with Garrison Keillor, Minnesota Public Radio offered a lengthy explanation that appeared to contradict the prominent radio host's own account of his ouster over allegations of inappropriate behavior.

Court Drops Government's Appeal of MetLife Case

A federal appeals court dismissed a case involving MetLife Inc.'s designation as a "systemically important financial institution," the last step in the insurer's path to shedding the label.

(END) Dow Jones Newswires

January 24, 2018 03:15 ET (08:15 GMT)