News Highlights: Top Company News of the Day
18 October 2017 - 12:30AM
Dow Jones News
IBM Revenue Drops Again
IBM had gains in its hardware and artificial-intelligence
divisions in the third quarter but over all profit and sales
declined, a sign the company's drawn-out transformation still has a
way to go.
Soros Transfers $18 Billion to Foundation, Creating Instant Giant
The 87-year-old pioneer of hedge-fund investing has transferred
the bulk of his fortune to Open Society Foundations, which vaults
it into the big leagues. Soros Fund Management is expected to show
a tamer investing style now the firm has a philanthropy as its main
client.
Roy Price Resigns as Head of Amazon Studios
Roy Price is out as head of Amazon Studios, days after details
of a two-year-old accusation of sexual harassment became
public.
Goldman Posts Surprise Profit Rise Despite Trading Woes
Goldman Sachs's investment bankers and portfolio managers drove
a surprise rise in quarterly profit, compensating for another rough
spell for the Wall Street firm's once-unstoppable traders.
J.P. Morgan to Buy Payments Firm WePay in First Major Fintech Buy
J.P. Morgan Chase said that it agreed to buy payments company
WePay in the bank's first sizable acquisition of a
financial-technology startup.
Morgan Stanley's Earnings Rise on Strength in Wealth Management
Morgan Stanley said its third-quarter profit rose 12% to $1.78
billion as its giant wealth-management business continued to churn
out reliable and growing profits even as trading revenue
declined.
SoftBank Venture Seeks 8,000 Cellular Sites Across U.S.
Japanese telecom giant SoftBank Group plans to form a joint
venture with Australia's Lendlease Group to build or manage about
8,000 cellular sites across the U.S., challenging tower operators
that dominate the industry.
GM Plans to Make Systems for Autonomous Cars
GM plans to make the bulk of the systems that go into an
autonomous car, a shift from its previous strategy that thrusts it
into direct competition with tech giants.
Facebook's Head of Research Lab Is Resigning
Regina Dugan, the head of Facebook Inc.'s cutting-edge hardware
lab, Building 8, is stepping down after a year and a half.
Saudi Oil Minister Downplays Prospect of Aramco Abandoning IPO
Saudi Arabia still plans to publicly list a portion of its state
oil company in 2018, the kingdom's oil minister said Tuesday, after
reports that the effort may be abandoned.
(END) Dow Jones Newswires
October 17, 2017 19:15 ET (23:15 GMT)
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