PRESS DIGEST- Financial Times - Jan 16

Wed Jan 15, 2014 7:38pm EST

Jan 16 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

Yahoo's chief operating officer departs

()

J C Penney set to cut 2,000 jobs

()

Apple to pay out millions over app billing

()

GM warns restructuring charges will double in 2014

()

Deutsche Bank suspends traders amid global forex probe

()

AOL strikes deal over Patch network

()

Overview

Yahoo Inc Chief Operating Officer Henrique de Castro, the high-profile executive Chief Executive Officer Marissa Mayer brought in as part of her turn around strategy, will be leaving on Thursday after about a year on the job.

J C Penney Co Inc said on Wednesday it will close 33 underperforming stores across the United States and cut 2,000 jobs as part of the struggling retailer's ongoing turnaround efforts.

Apple Inc will pay tens of millions of dollars as compensation to settle a longstanding complaint with the U.S. Federal Trade Commission that the technology company billed U.S. consumers whose children bought upgrades in apps and games on their iPhones and iPads without their parents' consent.

General Motors Co said it would incur more than double the restructuring costs it has in recent years with the withdrawal of the Chevrolet brand in Europe and the impending closure of a plant in Germany.

Deutsche Bank, Germany's biggest bank, has suspended several middle-ranking currency traders in an internal probe further intensifying an international investigation into the manipulation of foreign exchange markets, people close to the situation said.

AOL Inc is handing majority ownership of Patch, a network of local news websites, to New York investment firm and turn around specialist Hale Global, offloading an underperforming asset that has long been a hurdle for the Internet company in its turnround efforts.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.