News Highlights: Top Company News of the Day
19 November 2018 - 10:30PM
Dow Jones News
L Brands Names John Mehas as CEO of Victoria's Secret Lingerie
L Brands Inc. said Monday it had hired a Tory Burch executive to
take over its flagship Victoria's Secret lingerie business after
the chain posted another quarter of declining same-store sales.
Ghosn Arrested as Nissan Plans Ouster for False Pay Filings
Nissan Chairman Carlos Ghosn was arrested in Tokyo, and Nissan
said it intended to oust him after uncovering 'significant acts' of
financial misconduct, including underreporting his income in
securities filings.
Société Générale to Pay $1.3 Billion to Resolve Violations
French bank Société Générale agreed to pay $1.3 billion in fines
and penalties related to U.S. federal and state allegations that it
processed billions of dollars in transactions connected to Iran,
Sudan, Cuba and Libya over the course of a decade.
Apple Suppliers Suffer With Uncertainty Around iPhone Demand
Lower-than-expected demand for Apple's new iPhones and the
company's decision to offer more models have created turmoil along
its supply chain and made it harder to predict the number of
components and handsets it needs.
Taylor Swift Tries to Help Fellow Artists With Universal Music Deal
The biggest free agent in music signed a long-term deal with the
world's biggest record company, in the process using her clout to
try to score some points for other artists signed to the same
label.
Former College Basketball Player Sues Adidas Over Payments
Fallout from a federal probe of alleged corruption in college
basketball entered a new chapter Monday as a former University of
Louisville player sued Adidas alleging the sports-clothing maker
violated racketeering laws by paying families of high-profile
recruits.
Mercuria Is Favorite to Buy Bankrupt Aegean Marine
Swiss commodities trader Mercuria Energy is moving to buy
bankrupt Aegean Marine Petroleum, believing tough new fuel
emissions rules will lead to the bigger financial returns needed to
turn around the distressed business.
Paulson Agrees to Buy Stake in Asset Manager From HNA
John Paulson's hedge fund agreed to buy a stake in $238 billion
asset manager BrightSphere from HNA Group Co.
Aramco Abandons Plan for Massive Corporate-Bond Sales to Fund Sabic Deal
Saudi Aramco no longer plans to launch what would have been one
of the world's largest-ever corporate-bond sales to fund a roughly
$70 billion stake in the kingdom's national petrochemical firm,
looking instead to options requiring less public disclosure
GE Veteran John Rice Returns to Troubled Power Unit
General Electric said one of Jeff Immelt's top lieutenants was
returning to the company to help oversee a restructuring at its
power division.
(END) Dow Jones Newswires
November 19, 2018 17:15 ET (22:15 GMT)
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