News Highlights: Top Company News of the Day
26 September 2017 - 2:30PM
Dow Jones News
Nestlé Cedes Ground to Loeb but Won't Budge on L'Oreal
Nestlé set a new profit-margin target and said it would
accelerate share buybacks amid pressure from activist investor Dan
Loeb, but remained firm on retaining its stake in cosmetics giant
L'Oréal.
Alibaba Takes Control of Logistics Business as It Seeks Global Expansion
The Chinese e-commerce giant has become the majority owner of
affiliate Cainiao and plans to invest around $15 billion over five
years to build its logistics network.
Axovant Says Experimental Alzheimer's Drug Failed in Trials
Axovant Sciences said that its experimental Alzheimer's drug
failed to meet the goals of a pivotal trial.
Activist Investor Marathon Slams Restaurant Deal
Activist investor Marathon Partners Equity Management said the
proposed acquisition by restaurant operator J. Alexander's Holdings
Inc. of 99 Restaurants is a rotten deal for shareholders.
Amazon Hopes Alexa Will Offer Traction for Music App
Amazon Music listeners will now be able to ask Alexa to DJ
on-the-go. Amazon.com said it would launch the personal assistant
technology in its mobile music streaming apps on Tuesday.
Big Investors Want Directors to Stop Sitting On So Many Boards
Institutional investors, governance advisers and boards
themselves are increasingly blocking directors from joining
multiple boards, saying the practice spreads the executives too
thin.
Who Wins When CEOs Sit on Multiple Boards? Not Investors
Chief executives who sit on outside boards earn more money than
those who don't, but the companies they run return much less to
shareholders.
With Takata Deal Deadline Looming, Claimants in Air-Bag Cases Worry
Lawyers for people claiming injury from Takata Corp.'s defective
air bags pressured the company to finalize its deal to sell most of
its business as the deadline looms this week.
In India, a Big GE Deal Goes Off the Rails
General Electric Co. is in danger of losing one of its largest
industrial contracts after a political shake-up in India,
highlighting the risk of the conglomerate's chase to win business
in far-flung markets by investing heavily in local operations.
Deal Boutique Greenhill Lands a Lifeline
Legendary Wall Street deal maker Robert Greenhill is throwing a
lifeline to the firm he founded two decades ago, which has been
largely left behind in the recent merger boom. Greenhill & Co.
said its founder, along with CEO Scott Bok, will each invest $10
million in the company as part of a broader reorganization
(END) Dow Jones Newswires
September 26, 2017 09:15 ET (13:15 GMT)
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