News Highlights: Top Company News of the Day
14 December 2018 - 4:30PM
Dow Jones News
State Street CEO Joseph Hooley to Retire at End of Year
State Street's Joseph L. Hooley will retire as chief executive
officer on Dec. 31, with Ronald P. O'Hanley taking over on Jan.
1.
Merck to Buy Animal Health Tech Business for $2.37 Billion
Merck & Co. has agreed to acquire the privately held animal
health technology provider Antelliq Group from BC Partners for a
deal valued at about EUR2.1 billion in cash.
GE to Explore Replacing KPMG as Auditor
GE plans to solicit bids for an independent auditor after the
conglomerate revealed accounting issues earlier this year. Although
GE is keeping KPMG as its auditor for 2019, the process could mean
KPMG could lose a relationship it has held for more than a
century.
Louis Vuitton's Owner Takes the Grand Tour
LVMH is betting on the luxury travel market with a $2.6 billion
deal for hotel and cruise operator Belmond.
Maker of 'Pokémon Go' Refuels With $3.9 Billion Valuation
Niantic, the publisher of the popular "Pokémon Go" mobile app,
is in the process of raising a new round of capital that would
value the company at $3.9 billion, according to people familiar
with the matter.
Apple's New Job Push Reflects Shifting Strategy, Changing Identity
Apple's plan to add thousands of jobs in Austin, Texas, San
Diego, Seattle and Culver City, Calif., sketches out a road map
toward a future reliant on services and higher-priced devices.
Companies Ramp Up Stock Buybacks as Market Swoon Continues
Shares in a handful of U.S. companies have rallied following
recent announcements of increased share repurchases, a welcome
development for investors bruised by market volatility.
Look to These Five Retailers to Bring Holiday Cheer
It's a promising Christmas season for retail, with low
unemployment and strong consumer confidence, and the vanishing of
some famous brands has given relief to those still standing. Five
of those retail chains may win big.
Lucy Peng to Step Down as CEO of Alibaba's Lazada
Longtime Alibaba executive Lucy Peng is stepping down as chief
executive of the e-commerce giant's Lazada Group after nine months
on the job.
Tencent's Roster of IPOs Doesn't Live Up to the Hype
Tencent Holdings, one of China's most influential companies, is
also one of the most active technology investors, backing some of
the world's biggest initial public offerings. But the technology
giant's support doesn't make these deals a sure thing for
investors.
(END) Dow Jones Newswires
December 14, 2018 11:15 ET (16:15 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.