News Highlights: Top Company News of the Day
12 October 2019 - 12:15AM
Dow Jones News
FAA, Boeing Criticized for Oversights in MAX's Design
An international panel of experts said inadequate U.S. safety
oversight, combined with Boeing's failure to properly assess and
communicate important design changes, contributed to two fatal
crashes of the company's 737 MAX aircraft.
Citibank Fined $30 Million in Real-Estate Holding Rules Case
A U.S. banking regulator has fined an arm of Citigroup $30
million, saying it violated holding period regulations on
foreclosed real estate.
Mastercard, Visa, eBay Drop Out of Facebook's Libra Payments Network
The biggest financial companies recruited by Facebook to launch
a cryptocurrency-based payments network have backed out of the
project, threatening to derail an ambitious initiative to remake
global finance.
Barneys Bankruptcy Lenders Extend Bid Deadline Until Tuesday
Barneys New York's lenders extended until Tuesday a deadline for
the luxury retailer to clinch an offer from a buyer.
Reynolds Files for FDA Review of Vuse E-Cigarettes
Tobacco giant Reynolds submitted an application for some of its
Vuse e-cigarettes to the FDA,seeking permission to keep its vaping
products on the market.
Fox News Anchor Shepard Smith Steps Down After 23 Years on the Air
Fox News Channel anchor Shepard Smith is leaving the network he
has been a part of since it launched in 1996.
GM Talks With UAW Hit Impasse, Propelling Strike Into the Weekend
General Motors and the United Auto Workers accused each other of
not working hard enough to reach a new four-year contract, end the
26-day strike and put 46,000 full-time factory employees back to
work.
Secret Recordings Describe Extensive Corruption at Mexico's Pemex
Officials at the state-run oil company describe widespread
bribery and corruption in secret audio tapes that are part of
evidence in a lawsuit against the Mexican government. Oil-field
drilling company Oro Negro says Pemex helped drive it into
bankruptcy because the driller refused to pay bribes.
Investors Approve UTC-Raytheon Merger
Shareholders backed the creation of one of the world's largest
aerospace companies, voting in favor of the $135 billion
combination of United Technologies and Raytheon.
Publicis Shares Plunge After Ad Giant Cuts Guidance
Shares in Publicis dropped sharply after the advertising giant
lowered its guidance for the second time in a year, stoking fears
about the ad industry's ability to cope with a host of challenges
including the increasing dominance of tech giants.
(END) Dow Jones Newswires
October 11, 2019 19:00 ET (23:00 GMT)
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