News Highlights: Top Company News of the Day - Friday at 3 PM ET
19 January 2024 - 8:15PM
Dow Jones News
ICBC Fined $32 Million by New York's Financial Regulator and Fed for Compliance Failures
Industrial & Commercial Bank of China will pay about $32
million to resolve investigations into alleged compliance problems
at the bank's New York branch.
Ford Cuts Lightning Output in Latest Sign of EV Downshift
The truck has been a central part of the automaker's EV strategy
in the past few years, and the plant itself has been in the
spotlight-even receiving a visit from President President
Biden.
Spirit Airlines Raises Outlook, Looks to Refinance Debt Following Blocked JetBlue Deal
Shares soared as the budget airline guided for a
better-than-expected quarter.
Sports Illustrated Lays Off Most of Its Staff, Putting Brand's Future in Jeopardy
Many staffers were told they were being laid off on Friday,
according to the union of the publication.
Wayfair Boss, Weeks After Viral Memo, Cuts 13% of Staff
Chief Executive Niraj Shah says the online retailer went
"overboard" in hiring.
Tata Steel to Cut Up to 2,800 Jobs in U.K.
Tata Steel said it expects up to 2,800 employees will be
affected from a restructuring of its U.K. business, in a move to
reverse more than a decade of losses and transition to more
sustainable steel production at its Port Talbot site in South
Wales.
Apple Offers to Open Mobile Payments to Third Parties Amid EU Antitrust Case
The tech giant's proposal is aimed at allaying competition
concerns from European regulators.
Travelers Stock Pops After Earnings Beat
Core earnings of $7.01 a share beat Wall Street estimates of
$5.10 a share.
SLB Tops Earnings Estimates and Boosts Dividend. International Growth Is Strong.
The oil services provider posts adjusted earnings of 86 cents a
share, beating analysts' forecasts by 2 cents.
BASF Results Miss Forecasts
BASF reported preliminary figures for 2023 that were below the
company's guidance and consensus expectations, hit by write-downs
and sales of lower-margin products.
(END) Dow Jones Newswires
January 19, 2024 15:00 ET (20:00 GMT)
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