Companies: Latest Financial Topics from Reuters News

Here is the latest Company News from Reuters.

Aeropostale files for Chapter 11 bankruptcy protection
(Reuters) – Struggling teen apparel retailer Aeropostale Inc filed for Chapter 11 bankruptcy protection on Wednesday, succumbing to years of losses as shoppers thronged fast fashion retailers and competitors.

Exclusive: Target gets tough with vendors to speed up supply chain
CHICAGO (Reuters) – Discount retailer Target Corp is cracking down on suppliers as part of a multi-billion dollar overhaul to speed up its supply chain and better compete with rivals including Wal-Mart Stores Inc and Amazon.com Inc .

U.S. oil industry bankruptcy wave nears size of telecom bust
HOUSTON (Reuters) – The rout in crude prices is snowballing into one of the biggest avalanches in the history of corporate America, with 59 oil and gas companies now bankrupt after this week’s filings for creditor protection by Midstates Petroleum and Ultra Petroleum .

Oil prices stabilize after 6 percent fall since late April
SINGAPORE (Reuters) – Oil prices stabilized on Wednesday after falling for two straight days on concerns that slowing demand and rising Middle East production would extend a global supply overhang.

Global shares lose to bonds as deflation danger dominates
SYDNEY (Reuters) – Asian shares slipped on Wednesday as worries about global growth and creeping deflation resurfaced, undermining commodities and boosting demand for safe-haven sovereign debt.

Google, Fiat Chrysler to partner on self-driving minivans
DETROIT/WASHINGTON (Reuters) – Alphabet Inc’s Google unit and Fiat Chrysler Automobiles NV have agreed to work together to build a fleet of 100 self-driving minivans in the most advanced collaboration to date between Silicon Valley and a traditional carmaker, the companies said Tuesday.

Exclusive: Pfizer approaches Medivation about potential takeover – sources
(Reuters) – Pfizer Inc has approached U.S. cancer drug maker Medivation Inc to express interest in an acquisition, raising the possibility of a bid rivaling a $9.3 billion offer by Sanofi SA , people familiar with the matter said on Tuesday.

Seven big banks settle U.S. rate-rigging lawsuit for $324 million
NEW YORK (Reuters) – Seven of the world’s biggest banks have agreed to pay $324 million to settle a private U.S. lawsuit accusing them of rigging an interest rate benchmark used in the $553 trillion derivatives market.

Takata to announce recall of 35 million-40 million U.S. air bag inflators: sources
WASHINGTON (Reuters) – Under pressure from U.S. regulators, Japanese air bag manufacturer Takata Corp is expected to announce as early as Wednesday that it is recalling 35 million to 40 million additional inflators in U.S. vehicles, three sources briefed on the matter said on Tuesday.

Brazil judge overturns 72-hour suspension of WhatsApp
SAO PAULO (Reuters) – A Brazilian judge on Tuesday overturned a suspension of Facebook Inc’s WhatsApp messaging application that affected some 100 million users, after many people voiced frustration at the second such freeze in five months in the South American country.

Wall Street values Tesla Motors at $620,000 per car
SAN FRANCISCO (Reuters) – Company founder and CEO Elon Musk may not mention Tesla Motors Inc’s stock price when his electric car company gives its latest financial update on Wednesday, but it will be front and center for investors divided over its seemingly rich valuation.

CBS’s quarterly revenue rises 10 percent
(Reuters) – CBS Corp, the owner of the most-watched U.S. TV network, reported a 10 percent rise in quarterly revenue, helped by higher ad sales driven by political spending and the Super Bowl.

Big pharma dominates ranking of stocks with best five-year returns
NEW YORK (Reuters) – U.S. pharmaceutical companies dominated an annual global ranking of top 10 large-cap stocks with the best five-year returns, according to an analysis released on Tuesday by Boston Consulting Group.

Global factory growth nearly stalled in April: PMI
LONDON (Reuters) – Global manufacturing growth almost stalled last month as rising price halted a pick-up in new orders, a survey showed on Tuesday.

U.S. prosecutors consider more charges against ex-CEO Shkreli
(Reuters) – Former drug executive Martin Shkreli, who last year became a lightning rod for outrage over soaring prescription drug prices, may face additional U.S. charges of securities fraud, a federal prosecutor said on Tuesday.

Steven Cohen: hedge fund crowding caused major February loss
LOS ANGELES (Reuters) – Billionaire investor Steven Cohen said that too many hedge funds placing the same types of bets contributed to sharp losses for his $11 billion Point72 Asset Management earlier this year.

Tencent venture poaches Google talent as Chinese tech firms pile into autos
BEIJING (Reuters) – An automaker launched last year by firms including tech giant Tencent Holdings Ltd has poached autonomous driving personnel from Google and Daimler AG, marking China’s latest high-profile hires in the race to make self-driving cars.

Sprint’s loss widens, vows to cut $2 billion in costs this year
(Reuters) – Sprint Corp on Tuesday reported a wider quarterly loss and added fewer subscribers than expected, but vowed to cut more than $2 billion in costs in the current fiscal year to stop the red ink. The No. 4 U.S. wireless carrier also said it cut costs by $1.3 billion in fiscal year 2015.

New York Times revenue falls on lower ad sales
(Reuters) – New York Times Co reported a 1.2 percent fall in quarterly revenue as ad sales fell in its print and digital businesses.

Saudi plans stock market reforms to draw foreign money
DUBAI (Reuters) – Saudi Arabia announced a string of reforms to its stock market that could attract billions of dollars of fresh foreign money and smooth sales of state assets as the kingdom grapples with damage to its finances caused by low oil prices.

U.S. April auto sales on pace for new record for the month
DETROIT (Reuters) – U.S. auto sales in April were on course to set a new high for the month on Tuesday, with the industry also on pace to top the annual record set last year.