News Highlights: Top Company News of the Day
23 August 2017 - 10:30PM
Dow Jones News
Whole Foods Shareholders Approve Amazon Merger
Shareholders of Whole Foods approved the natural grocer's
takeover by Amazon, a key step for the e-commerce giant to seal its
biggest play yet in the $700 billion food retail market.
WPP Sounds a Warning Signal on Consumer-Ad Spending; Shares Sink
WPP shares were off 10% after the world's largest advertising
company reported a steeper-than-expected slowdown in ad buying by
consumer-goods companies, especially in North America.
Cargill Invests in Startup That Grows 'Clean Meat' From Cells
Cargill, one of the world's largest producers of beef and
poultry, has taken a stake in a startup developing technology to
grow meat from self-reproducing animal cells.
Mitsui Sumitomo to Buy Singapore's First Capital From Fairfax
Japanese insurer Mitsui Sumitomo Insurance Co. has struck a deal
to buy Singapore-based property and casualty insurer First Capital
from Canada's Fairfax Financial Holdings Ltd. for $1.6 billion.
American Express Admits to Offering Worse Credit-Card Terms in U.S. Territories
American Express acknowledged that it offered worse terms to
credit-card customers in Puerto Rico and other U.S. territories
than those extended to customers in the 50 states, and has paid $95
million to settle the matter.
Court Upholds Martoma Insider-Trading Conviction
A federal appeals court upheld the 2014 insider-trading
conviction of former SAC Capital Advisors portfolio manager Mathew
Martoma, in a broad ruling that could ease the government's ability
to prosecute corporate insiders that divulge confidential
information.
Rosneft Prevails in Lawsuit Against Sistema
A regional arbitration court in Russia ruled in favor of Russian
oil giant PAO Rosneft, in a case seen as a test of the country's
investment climate.
Wal-Mart and Google Team Up to Challenge Amazon
Google and Wal-Mart Stores are joining forces in a partnership
that includes enabling voice-ordered purchases from the retail
giant on Google's virtual assistant, challenging rival Amazon.com's
grip on the next wave of e-commerce.
Westinghouse Seeks to Award Bonuses to 'Vital' Employees
Westinghouse Electric is seeking authorization to end a
deferred-compensation plan and pay up to $13.8 million in retention
bonuses to employees that the company says possess specialized
skills.
Saudi Aramco IPO Sparks Rush to Privatize in Middle East
Saudi Arabia's move to list its state-run oil giant, combined
with years of lower oil prices, has inspired neighboring
oil-producing countries to tap public markets as a new source of
revenue.
(END) Dow Jones Newswires
August 23, 2017 17:15 ET (21:15 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.