News Highlights: Top Company News of the Day
Judge Sets March 19 as Start Date for AT&T-Time Warner Antitrust Trial
The judge who will be overseeing the antitrust trial involving AT&T's proposed acquisition of Time Warner has set March 19 start date for the trial, warning the two companies he cannot reach a decision by the time their merger agreement expires on April 22.
GE Cuts 18% of Jobs in Power Unit After Misjudging Demand
GE said it was cutting 12,000 jobs in its power business, or nearly 20% of the unit's workforce, as the conglomerate slashes costs and battles overcapacity in its core business.
Caterpillar Railcar Unit to Pay $5 Million Fine for Dumping Parts
United Industries, a unit of Caterpillar, admitted that it cheated customers by performing unnecessary repairs to their railcars and agreed to plead guilty to dumping brake shoes and other parts into the ocean to hide evidence, according to court documents.
Morgan Stanley Fires Harold Ford Jr. After Conduct Complaint
Morgan Stanley has fired former congressman Harold Ford Jr. as a senior adviser to the firm after investigating a claim of inappropriate conduct.
Dollar General's Sales Keep Rising
Dollar General Corp. said quarterly sales rose at the fastest pace in nearly three years as the discount chain opens hundreds of new stores, many in rural areas.
Sleepy's Owner Steinhoff: Accounting Issues Could Affect $7 Billion in Assets
Steinhoff International Holdings said accounting irregularities disclosed Wednesday could affect the valuation and "recoverability" of as much as $7.09 billion worth of assets as South Africa's Financial Services Board starts an independent investigation into the company.
Making Credit Suisse Swiss Again Drives Its Turnaround
Two years into its overhaul, Credit Suisse has returned to its Alpine roots by building up its Swiss unit and, more important, expanding the management of wealthy clients' money, long a staple of Swiss banks.
HSBC's Second-Largest Shareholder Is Now From China
One of China's biggest insurers has become the second-largest shareholder of HSBC Holdings, but it won't influence how the U.K.-based bank is run, HSBC's departing Chief Executive Stuart Gulliver said.
Auto Makers Could Face Big Fines Under New European Rules
The European Union is expanding its powers to police and fine auto makers, seeking to prevent a repeat of the diesel-emissions scandal. It is introducing spot-checks on new vehicles and penalties of up to $35,394 per non-compliant car.
Ford to Move Electric Car Production to Mexico
Ford plans to produce a future electric car in Mexico, reversing plans announced in January to make its Flat Rock, Mich., assembly plant its main electric-vehicle production site.
(END) Dow Jones Newswires
December 07, 2017 17:15 ET (22:15 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.