News Highlights: Top Company News of the Day

11/10/17 03:15 PM EST
J.C. Penney Lowered Its Goals, Then Beat Them 
 

Shares of J.C. Penney jumped Friday after it easily beat the expectations it lowered only weeks before.

 
Equifax Apologizes as it Reports Earnings Drop, Outlines Next Steps 
 

Executives on Equifax's first earnings call since it disclosed a massive breach in September detailed a challenging environment for the company as it works to overhaul its security measures.

 
HSBC Accounts Used for Transactions Linked to Suspected South Africa Kickbacks 
 

South Africa's Gupta family used HSBC bank accounts in Dubai to transfer millions of dollars through companies that have been linked to suspected kickbacks for the sale of Chinese locomotives, according to documents.

 
Hawaii's Island Air to Shut Down, End Flights on Friday 
 

Hawaii's Island Air, which flew to remote destinations throughout the state, is shutting down.

 
Uber Suffers Setback as U.K. Court  Rules Its Drivers Should Have Workers' Rights 
 

Uber Technologies suffered a setback in a British court when an appeals tribunal reaffirmed a decision that the company must give its drivers employee rights like paid vacations.

 
Altice Shakes Up Top Ranks in Bid to Reassure Investors 
 

Altice Chief Executive Michel Combes has resigned amid a raft of management changes as the cable company seeks to reassure investors after disappointing third-quarter results led to a rapid decline in its share price.

 
GE Dividend In Focus as Investors Await New Strategy 
 

Investors and analysts are bracing themselves for a broad rethinking of how GE operates, including shedding business units, a dividend cut, and layoffs among GE's nearly 300,000-person workforce.

 
Social-Media App Musical.ly Is Acquired for as Much as $1 Billion 
 

Musical.ly, the maker of a social-media app popular among teens and tweens, has agreed to be acquired by Chinese news and information site Beijing Bytedance Technology for as much as $1 billion.

 
Hot Topic Bondholders Cry Foul Over Torrid Spinoff 
 

Hot Topic bondholders sued the retailer's private-equity owner, Sycamore Partners, over a subsidiary spinoff they say diminished their odds of being repaid.

 
Kobe Steel Points Finger at Careless Management, Overworked Employees in Scandal 
 

Kobe Steel released a report Friday that blamed lax management and overworked employees for a product-quality scandal, saying the company has to restore trust to survive.

 
 

(END) Dow Jones Newswires

November 10, 2017 15:15 ET (20:15 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.