News Highlights: Top Company News of the Day

01/03/18 03:15 PM EST
Spotify Files to Go Public With Direct Listing, Cutting Out Underwriters 

Spotify has confidentially filed paperwork with the Securities and Exchange Commission to list its shares on the New York Stock Exchange.

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.

Allergan Plans Job Cuts as Key Drugs to Lose Exclusivity 

Allergan will eliminate more than 1,000 jobs as the drug maker works to restructure ahead of expected revenue declines from the loss of exclusivity on key products.

U.S. Car Sales Are Set for Their First Annual Decline Since Financial Crisis 

The U.S. auto industry in 2017 likely suffered its first annual sales decline since the financial crisis eight years ago, as demand finally ebbs after a remarkable multiyear growth spurt.

Dominion Energy to Buy Scana, Which Had Ended a Nuclear Project 

Dominion Energy has struck a deal to buy Scana, ushering the final chapter for Scana's major South Carolina nuclear project, which got mired in controversy and was abandoned after its costs exploded.

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.


(END) Dow Jones Newswires

January 03, 2018 15:15 ET (20:15 GMT)

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