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News Highlights: Top Company News of the Day

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09/11/2019 | 03:16am EDT
Charles Schwab Plans Layoffs as Falling Interest Rates Hurt Profit 

Charles Schwab is cutting about 600 jobs, as it deals with the impact of lower interest rates.

Apple Undercuts Rivals With Streaming Price 

Apple revealed a trio of upgraded iPhones, including a lower-priced model, and detailed its plans to enter the increasingly competitive video-streaming market with an offering that is cheaper than rivals.

GE to Give Up Majority Control of Baker Hughes 

General Electric is giving up majority control of Baker Hughes, selling shares in the oil-field services firm that will raise about $3 billion cash but trigger a more-than-$7-billion accounting charge.

GameStop Grapples With Falling Sales as Competition Looms 

The videogame retailer's sales fell 14% as consumers increasingly download games instead of buying packaged software.

China's Anbang to Sell Hotels for More Than $5.8 Billion 

China's Anbang agreed to sell luxury hotels for more than $5.8 billion even as a California individual had secretly created a series of fake deeds to transfer ownership for up to a half-dozen of the properties.

Reliance Nippon Life Asset to Launch $190 Million Fund This Month 

India's Reliance Nippon Life Asset Management plans to launch a $190 million fund of venture capital funds around the end of September, said an executive of the firm's new majority owner, Nippon Life Insurance Co.

JPMorgan CEO Dimon Raises Specter of Zero Rates 

The biggest bank in the U.S. is starting to prepare for how to make money if interest rates in the U.S. drop to zero.

Executives Say $1 Billion for AI Research Isn't Enough 

The announcement of a nearly $1 billion federal commitment toward artificial-intelligence research drew a mixed response from business leaders who said the U.S. needs to do more to maintain a competitive edge in AI.

Mallinckrodt Shares Rise After It Agrees to Sell BioVectra 

Mallinckrodt agreed to sell its contract drug-manufacturing subsidiary to private-equity firm H.I.G. Capital in a deal worth up to $250 million, sending its stock price up 85%.

Uber Cuts More Than 400 Jobs 

Uber cut 435 technical employees in the company's latest downsizing as it faces market pressures to turn a profit and the possibility of higher driver pay.

Stocks mentioned in the article
ChangeLast1st jan.
APPLE 0.36% 220.7 Delayed Quote.39.91%
BAKER HUGHES -1.81% 23.38 Delayed Quote.10.74%
GAMESTOP CORP. -0.46% 4.33 Delayed Quote.-65.69%
GENERAL ELECTRIC COMPANY -0.21% 9.36 Delayed Quote.23.65%
JP MORGAN CHASE & COMPANY -0.50% 118.57 Delayed Quote.22.07%
LONDON BRENT OIL 0.47% 64.45 Delayed Quote.11.63%
MALLINCKRODT PLC -9.97% 2.71 Delayed Quote.-82.85%
RELIANCE CAPITAL -4.62% 35.1 End-of-day quote.-84.12%
THE CHARLES SCHWAB CORPORATION -1.12% 43.11 Delayed Quote.3.80%
WTI 0.22% 59.01 Delayed Quote.21.48%
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