News Highlights: Top Company News of the Day
Rite Aid CEO to Leave; Company to Shed 400 Corporate Jobs
Rite Aid Corp. said its chief executive, finance chief and operating chief plan to leave the company as part of a wide-reaching restructuring plan that will also eliminate about 400 full-time jobs.
Boeing to Make Key Change in 737 MAX Cockpit Software
Boeing Co. is making an extensive change to the flight-control system in the 737 MAX aircraft implicated in October's Lion Air crash in Indonesia, going beyond what many industry officials familiar with the discussions had anticipated.
Problems Begin to Mount for Edward Lampert's New Sears
The issues facing Edward Lampert's new Sears are piling up as the old Sears demands more cash it says it is owed from last month's sale of the retailer's assets at a bankruptcy auction.
CBS Buys Remaining 50% in Pop, a Cable Network, From Lions Gate
CBS said it has acquired the 50% stake in the cable network Pop held by Lions Gate Entertainment, giving it complete ownership of the channel.
TPG's McGlashan Stripped of Duties in Wake of College-Admission Scandal
Mr. McGlashan is among dozens of defendants, including several with ties to the private-equity and venture-capital industry, named in a federal suit unveiled Tuesday.
Lumber Liquidators Settles Probes Into Laminate-Flooring Claims
Lumber Liquidators agreed to pay $33 million in fines after federal authorities accused it of misleading investors about selling laminate flooring that contained excessive amounts of formaldehyde.
Regulator Slams Wells Fargo After CEO Testifies to Congress
Wells Fargo Chief Executive Timothy Sloan faced combative questions from a bipartisan group of House lawmakers, his latest test in the yearslong fallout from his bank's sales-practices scandal.
Fed Bans Two Ex-Goldman Bankers From Industry
The Federal Reserve Board of Governors has barred former Goldman Sachs bankers Tim Leissner and Roger Ng from the banking industry because of their alleged involvement in the 1MDB scandal.
African Online Retailer Jumia Plans IPO in the U.S.
Jumia, Africa's largest e-commerce platform, filed with the SEC for an initial public offering on the New York Stock Exchange.
Goldman Opens Up In-House Moneymaker to Outside Investors
A Goldman Sachs Group profit machine that has invested the bank's own money in Asian property, African startups and troubled U.S. retailers, among other ventures, is opening up to outside investors.