News Highlights: Top Company News of the Day

01/03/18 11:15 AM EST
For U.S. Auto Sales, the First Annual Decline Since Financial Crisis 

Domestic car companies collectively reported lower U.S. sales in December, signaling the auto industry's 2017 tally fell short of the record set in 2016 and represented the first annual decline since the financial crisis eight years ago.

Verizon, Samsung Will Team Up to Bring Faster 5G to California 

Samsung was chosen as a major supplier in the telecom giant's push to offer 5G internet over its wireless network.

Petrobras to Pay $2.95 Billion to Settle U.S. Corruption Suit 

Brazilian state-run oil company Petróleo Brasileiro said it would pay one of the highest-value settlements in history to end a class-action lawsuit by U.S. investors who had sought to recoup corruption-related losses.

Dominion Energy to Buy Scana, Absorb Costs of Failed Nuclear Plant 

Dominion Energy will buy troubled energy company Scana in an all-stock transaction valued at about $7.66 billion and absorb some of the costs of Scana's failed South Carolina nuclear project.

Drug Firm Will Charge $850,000 for Vision-Loss Gene Therapy 

Spark Therapeutics will charge $850,000 a patient for a new treatment for vision loss-below the $1 million price tag it considered, but still a milestone for ever-rising U.S. drug prices.

Why Alibaba's Jack Ma Can't Seem to Win Over the U.S. 

Ant Financial's failed bid to acquire Dallas-based MoneyGram was the latest in a string of setbacks for the Chinese billionaire, whose companies have long sought to establish beachheads in America.

HNA Group Delays Loan Repayments to Employees 

HNA Group Co. has fallen behind in repaying loans it obtained from employees and individual investors on an internet-lending platform, a sign it is having difficulty meeting some debt obligations.

Foreign Firms Rush Washers, Solar Panels Into U.S. Amid Trade Fears 

Foreign makers of products including washing machines and solar panels are ramping up shipments to the U.S. ahead of government decisions on whether to erect new barriers, trade data show.

Why European Banks Will Struggle to Rally 

U.S. bank stocks had a great run in 2017: Europeans, not so much. Those betting on a Continental banking catch-up in 2018 shouldn't get their hopes up.

Can Amazon Do With Clothes What It Did With Books? is 24 years old but certainly isn't acting its age. With its shares up 57% last year and a forward price to earning ratio of 276, the company looks more like a fast-growing teenager than an adult. Its biggest challenge is how to stay young.


(END) Dow Jones Newswires

January 03, 2018 11:15 ET (16:15 GMT)

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