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News Highlights: Top Company News of the Day

UBS Agrees to Buy Credit Suisse for More Than $3 Billion 

The deal was engineered by regulators and is designed to restore trust in the banking system.

Starbucks's New CEO, Laxman Narasimhan, Takes Helm 

Longtime leader Howard Schultz bows out as the coffee chain faces Senate and shareholder questions on unionization.

Foot Locker Says 2023 is Reset Year, Forecasts Sales Drop 

Foot Locker said it is using 2023 to reset its business and forecast a sales decline for the year as it focuses on its core operations.

First Republic set to open at an all-time low as U.S. banks get little or no lift from UBS-Credit Suisse tie-up 

First Republic continues slide as U.S. banks fall. UBS and Credit Suisse weigh on banks after megadeal, while analyst ponders fate of bank deposits.

Fleetcor Strikes Board Agreement With Activist Shareholder 

The payments company also will consider separating parts of its business as part of its agreement with D. E. Shaw.

Musk's Cost-Cutting Targets Put Pressure on EV Rivals 

GM, Ford and Volkswagen face questions about efforts to slash costs for future vehicles.

China Cites Chip Conglomerate's Former Head in Corruption Probe 

The country's top antigraft watchdog said it had uncovered evidence of corruption involving Tsinghua Unigroup's former chairman and was handing his case over to prosecutors.

Credit Suisse Aims to Reassure Clients After Deal 

The troubled Swiss bank has given its employees guidelines on how to answer clients' questions following the merger agreement.

Ukraine War Supercharges Growth at German Weapons Maker 

Russia's invasion of its neighbor has made Rheinmetall AG, a once low-profile German manufacturer, a key player in the global arms trade.

Independent Audit Identifies Rio Tinto Cultural-Heritage Shortcomings 

An independent report commissioned by Rio Tinto PLC found the world's second-largest miner by market value was missing the foundations for good cultural-heritage management practices at all of its operations to some extent.

(END) Dow Jones Newswires

March 20, 2023 09:00 ET (13:00 GMT)

2023 Dow Jones & Company, Inc.

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