News Highlights: Top Company News of the Day

03/08/18 11:15 PM EST
Wynn Resorts to Pay $2.6 Billion in Settlement to Ease Steve Wynn's Sale of Stake 

Wynn Resorts will pay $2.6 billion to settle litigation with a company that at one time held a 20% stake in the casino giant, but was forced by Wynn in 2012 to give up its shares.

Cigna Deal Shows Being a Health Insurer Isn't Enough Anymore 

Cigna's $54 billion deal for Express Scripts is the latest sign that health care's biggest players believe they can no longer go it alone, and they must branch into other businesses to forge integrated products aimed at curbing costs.

J&J Says Discounts Cut the Prices for Its Drugs, Though Revenue Rose 

Johnson & Johnson says its net drug prices overall fell last year due to discounts and rebates. Revenue still rose 6.7%

Tellurian, Chesapeake Energy Held Talks on Louisiana Fields 

Tellurian is in talks to buy Chesapeake Energy's drilling fields in the Haynesville shale formation as it seeks to become a producer as well as exporter of natural gas, according to people familiar with the matter.

Elon Musk Tells Trump That China's Trade Rules 'Make Things Very Difficult' 

Tesla Chief Executive Elon Musk took to Twitter to lobby President Donald Trump on China's trade stance on auto makers, saying the Middle Kingdom's current rules "make things very difficult."

GM Faces Renewed Prospect of $1 Billion Payout Over Ignition Safety 

General Motors Co. again faces the prospect of a potential $1 billion stock payout over its ignition switch crisis, after a trust for the company's bankruptcy estate renewed discussions with plaintiffs about a settlement.

Soured Lehman Mortgage Claims Valued at $2.4 Billion 

Lehman Brothers caused $2.4 billion in damages to investors holding securities backed by shaky home mortgages, a New York bankruptcy judge ruled Thursday.

Toys 'R' Us Considers Closing All of Its U.S. Stores 

Troubled toy chain Toys "R" Us Inc. is preparing to liquidate all of its U.S. stores and abandon efforts to restructure through the bankruptcy process, people familiar with the matter said, after a weak holiday season torpedoed plans to reorganize.

Disney Shareholders Don't Endorse Compensation Plan for CEO Iger 

In a rare rebuke of Walt Disney leadership, shareholders voted down a nonbinding endorsement of Robert Iger's compensation plans, which could balloon well over $100 million under a recent contract extension.

Voya to Pay $3.6 Million to Settle SEC Charges 

The Securities and Exchange Commission said two subsidiaries of Voya Financial Inc. agreed to pay $3.6 million to settle charges that they failed to disclose conflicts of interest and misled mutual-fund investors.


(END) Dow Jones Newswires

March 08, 2018 23:15 ET (04:15 GMT)

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