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News Highlights : Top Company News of the Day

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10/12/2018 | 11:16am EST
JPMorgan Profits Rise 24% Despite Trading Dip 
 

Banking giant JPMorgan reported that net income rose 24%, and revenue rose as well, with consumer businesses helping overcome a slight decline in trading results.

 
Sears Exit Would Leave Big Holes in Malls. Some Landlords Welcome That. 
 

Profitable shopping centers see chance to lure higher-paying tenants even as malls in the heartland, already struggling with competition from online sales, fear the loss of foot traffic.

 
Citigroup's Profit Rises, Helped by Cost Cuts 
 

Citigroup said its third-quarter profit rose 12% from a year ago, as the company cut expenses and reduced its tax bill amid flat revenue growth.

 
GE Delays Release of Quarterly Results Until Oct. 30 
 

General Electric delayed the release of it quarterly results by a week, saying its new CEO needed more time to complete his review of the embattled conglomerate.

 
Wells Fargo Books 32% Profit Boost 
 

The lending giant reported that cost cuts helped net income rise to $6 billion, as executives battled regulatory issues and a slowdown in some parts of the mortgage industry.

 
PNC Profit Up 25% on Higher Revenue 
 

Profit climbed at PNC Financial in the third quarter as the regional bank reported stronger revenue and lower credit costs from a year ago.

 
Can Cable Rescue T-Mobile, Sprint Deal? 
 

To persuade regulators to approve their $26-billion deal, the two telecom giants are attempting to redefine the wireless market to show there are actually more than four competitors today-making their merger less troublesome.

 
China's Auto Sales Face First Annual Decline in Decades 
 

Auto sales in China fell for the third straight month in September, as fragile consumer confidence amid a falling stock market and trade tensions led to weak sales.

 
Guardian, Ad-Tech Firm Settle Dispute 
 

In an SEC filing, The Rubicon Project said the companies agreed to resolve a dispute over alleged hidden fees.

 
Verizon Changes Exit Package for Workers It Planned to Outsource 
 

The wireless carrier is now offering about 1,000 of its U.S. workers who were set to move to outsourcing giant Infosys severance or a guarantee of comparable pay for two years.

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