News Highlights : Top Company News of the Day

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12/08/2017 | 03:15 am

Chairman of Berkshire Hathaway's Marmon to Retire in 2018

Frank Ptak, a longtime executive at one of the largest units of Warren Buffett's Berkshire Hathaway, said in an interview that he plans to retire at the end of 2018.

Creditors Put Toys 'R' Us Debt Under Microscope

Toys 'R' Us creditors are seeking permission to obtain more documents related to numerous debt transactions that took place in the years leading up to the retailer's September bankruptcy filing.

Caterpillar Unit Cheated Customers, Tossed Evidence Into Ocean to Hide It

United Industries, a unit of Caterpillar, admitted that it cheated customers by performing unnecessary repairs to their railcars and pleaded guilty to dumping brake shoes and other parts into the ocean to hide evidence.

Morgan Stanley Fires Harold Ford Jr. After Conduct Complaint

Morgan Stanley has fired former congressman Harold Ford Jr. as a senior adviser to the firm after investigating a claim of inappropriate conduct.

Dollar General's Sales Keep Rising

Dollar General Corp. said quarterly sales rose at the fastest pace in nearly three years as the discount chain opens hundreds of new stores, many in rural areas.

Windstream Lawyer Calls Out Aurelius for Pushing Default

Windstream Holdings Inc.'s lawyer has called out Aurelius Capital Management over its campaign to push the company into default, saying it is simply looking to profit from credit default swaps on the company's debt.

Judge Sets March 19 as Start Date for AT&T-Time Warner Antitrust Trial

The judge who will be overseeing the antitrust trial involving AT&T's proposed acquisition of Time Warner has set March 19 as the trial's start date, warning the companies he cannot reach a decision by the time their merger agreement expires on April 22.

GE Cuts 18% of Jobs in Power Unit After Misjudging Demand

GE said it was cutting 12,000 jobs in its power business, or nearly 20% of the unit's workforce, as the conglomerate slashes costs and battles overcapacity in its core business.

Sleepy's Owner Steinhoff: Accounting Issues Could Affect $7 Billion in Assets

Steinhoff International Holdings said accounting irregularities disclosed Wednesday could affect the valuation and "recoverability" of as much as $7.09 billion worth of assets as South Africa's Financial Services Board starts an independent investigation into the company.

Auto Makers Could Face Big Fines Under New European Rules

The European Union is expanding its powers to police and fine auto makers, seeking to prevent a repeat of the diesel-emissions scandal. It is introducing spot-checks on new vehicles and penalties of up to $35,394 per non-compliant car.

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