May 21 The following are the top stories in the
Wall Street Journal. Reuters has not verified these stories and
does not vouch for their accuracy.
* JPMorgan Chase & Co is preparing for a shake up of
its board even if every director wins re-election at Tuesday's
shareholder meeting and James Dimon keeps his dual job as
chairman and chief executive. ()
* Even in the fast growing realms of the consumer Internet,
some businesses are best served by old fashioned consolidation.
GrubHub and Seamless, two nationwide startups used for ordering
restaurant takeout by smartphone and computer, said they would
merge. GrubHub Chief Executive Matt Maloney, who will lead the
combined company, declined to discuss valuation. ()
* Here is a glimpse at the future of finance. When Deutsche
Bank AG set out to win a role on Apple Inc's
$17 billion bond, it eschewed Wall Street's traditional tactics.
Instead of flying well-groomed bankers to Cupertino, California,
to charm Apple's top executives with powerpoint presentations,
Deutsche relied on iTunes. The German bank has handled the back
office work for Apple's online store in recent years, according
to people familiar with the situation. ()
* Aware that it needs China's sweet tooth, Hershey Co
is rolling out a Chinese brand designed for the world's
fastest growing candy market. In a first launch beyond the U.S.
market, Hershey is unveiling on Tuesday a candy known in English
as the Lancaster and in Chinese as Yo-man. Hershey will
officially open its Shanghai-based Asia Innovation Center on
Wednesday. It will be company's second-largest research and
development center world-wide. ()