News Highlights: Top Company News of the Day

Date : 15/02/2020 @ 00:30
Source : Dow Jones News

News Highlights: Top Company News of the Day

Google Cuts Jobs at Cloud-Computing Group 

The company said it is cutting jobs at its cloud-computing unit as part of a reorganization aimed at improving operations at the business that has become more central to parent Alphabet.

Citigroup Keeps CEO's Pay at $24 Million 

Mr. Corbat over the past seven years has focused on simplifying the bank and expanding its revenue from current customers and its consumer bank.

Apax-Owned Leather-Goods Retailer Cole Haan Files for IPO 

Cole Haan has filed for an initial public offering, some seven years after private-equity firm Apax Partners bought the fashion retailer known for its shoes and handbags from Nike.

Pentagon Shifts Stance on Sales to Huawei 

The Defense Department has dropped its opposition to a proposed rule that would make it harder for U.S. chip makers and other companies to send shipments to China's Huawei Technologies.

Coronavirus Creates Domino Effect in Automotive Supply Chain 

Fiat Chrysler is temporarily halting production at a car factory in Serbia while union officials at two U.S. General Motors factories are warning more production outages could come.

Nissan and Renault Want Merger Benefits Without Merging 

The car makers desperately need to share costs through their troubled alliance, but this is fraught with uncertainty.

Google Challenged EU Fine. A Judge Spoke of Raising It. 

Alphabet's appeal against a multibillion-dollar fine for alleged anticompetitive behavior by its Google unit risks backfiring after a European Union court floated the prospect of increasing the fine, rather than scrapping it.

Kraft Bonds Tumble After Downgrades to Junk Rating 

Investors dumped bonds of Kraft Heinz Friday when Fitch Ratings and S&P Global Ratings pushed their ratings of the company into junk territory following a disappointing earnings report.

Univision Nears Sale to Group Including Former Viacom Executive 

The Spanish-language broadcaster is in exclusive talks to be sold to an investor group that includes media veteran Wade Davis and Searchlight Capital Partners.

Zuckerberg Willing to Pay More Taxes in Europe 

Facebook is willing to pay more tax overseas and supports a proposed global levy on tech giants, according to a speech Chief Executive Mark Zuckerberg is set to give on Saturday.


(END) Dow Jones Newswires

February 14, 2020 19:15 ET (00:15 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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