News Highlights: Top Company News of the Day

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09/06/2017 | 11:15 pm
Jack Dorsey

Facebook Identifies $100,000 in Ad Spending by Fake Accounts With Suspected Ties to Russia

Facebook said it has identified about 500 "inauthentic" accounts responsible for $100,000 in advertising spending that it believes have ties to Russia, following a review of ad buying on the site in response to intelligence-community concerns about Russian activity during the 2016 election.

Trian Details Its Case for Changes at P&G

Activist investor Nelson Peltz laid out his case for why Procter & Gamble Co. should give him a board seat, painting a picture of a company impenetrable to outsiders and incapable of navigating the changing consumer landscape.

Restoration Hardware Parent Touts Changes as Sales, Earnings Beat Estimates

Restoration Hardware's transformation is beginning to pay off, executives say, as the home-furnishings retailer's efforts to change its business model and streamline its supply chain helped it beat expectations in the latest period.

Toys 'R' Us Seeks Help With Its Debt

Toys "R" Us Inc. has retained lawyers from Kirkland & Ellis LLP to help restructure $400 million in debt due next year, a person familiar with the matter said, the latest move by the toy chain as it struggles with growing online competition.

T-Mobile Offers Free Netflix to Lure Users

T-Mobile US will offer free access to Netflix's streaming-video service to subscribers on its family plans, the carrier's latest bid to lure wireless customers.

Gap to Close 200 Banana Republic, Gap Stores

Gap Inc., nodding to changing tastes among its shoppers, said it would close about 200 Banana Republic and Gap stores over the next three years, while opening about 270 Old Navy and Athleta locations.

Opioid Maker Bent Rules to Get Drug to Patients, Senate Report Says

A Senate panel's report provides details on the operation of the Insys Reimbursement Center, tasked with helping secure authorization from insurers for prescriptions of Subsys, an inhaled form of fentanyl.

Sanofi Stops Work on 2 Zika Vaccines

Drugmaker Sanofi SA has ended its development of two Zika virus vaccines, citing a decline in new infections and limits on U.S. government funding.

Jack Dorsey's Square Makes a Move Into Banking

The San Francisco-based finance firm led by Jack Dorsey plans to submit an application on Thursday to form a wholly owned bank based in Utah, the company said.

Airlines Slash Flight Schedules as Irma Nears

Airlines are scrubbing scheduled flights to and from Florida as Hurricane Irma bears down on the state.

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