News Highlights: Top Company News of the Day
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SoftBank Secures $108 Billion for Second Megafund
SoftBank Group will start a second technology megafund, having secured $108 billion in commitments from investors including Apple, Japanese banks, Taiwanese investors and Kazakhstan's sovereign-wealth fund.
Brazil's Nubank to Be Valued at More Than $10 Billion in New Financing Round
Growth-stage venture firm TCV is expected to lead the $400 million round, the people said. The funding, which highlights increasing investor interest in Latin American technology companies, would make Nubank the most highly valued private technology company in Latin America, according to PitchBook Data Inc.
Pet-Care Sales Feed Nestlé Growth
Nestlé reported higher first-half sales, buoyed by strong growth in the U.S., where pet owners drove up sales of the food giant's Purina brand.
Roundup Verdict Cut to $86.7 Million From $2 Billion
Bayer succeeded in getting a third large trial verdict substantially reduced in litigation over the safety of its Roundup weedkiller.
Vodafone to Separate Tower Unit, Mulls IPO
Vodafone said it will separate its European tower infrastructure business and consider listing it in an initial public offering, as it posted a 2.3% fall in first-quarter revenue.
Renault Cuts Outlook as Nissan Losses Drag
UPDATED 0638 GMT: Renault cut its revenue outlook after reporting lower half-year profits, blaming a slump in demand and a reduced payout from its alliance partner Nissan.
Schwab to Buy USAA Investment Company Assets
Charles Schwab said it would acquire assets of USAA's investment management company for $1.8 billion. The firm is moving further into wealth management as it expands beyond its roots as a discount broker.
Amazon's Streak of Record Profit Ends
Amazon's record quarterly profit streak ended, as the online retailer faced higher shipping costs, slowing growth from its cloud-computing business and a steeper loss in its overseas retail business.
Australia Set to Regulate Tech Giants After Regulator Urges Reform
The Australian government wants to address concerns about the way tech firms such as Facebook and Alphabet handle the private data of consumers and wield their market power.
Google Posts Strong Profits as Hazards Mount
Google became the latest technology titan to shake off new threats, posting strong earnings as an impending antitrust investigation threatens to choke the search giant's online-advertising spigot.
