Company news in brief

Probe into Facebook's data breach broadensA federal investigation into Facebook Inc’s data breach with political consultancy Cambridge Analytica has broadened focus on the actions and statements of the tech giant, the Washington Post reported on Monday, citing people familiar with the inquiries.The investigation involves three agencies including the Securities and Exchange Commission, the Washington Post report said.“We are cooperating with officials in the US, UK and beyond. We’ve provided public testimony, answered questions, and pledged to continue our assistance as their work continues,” a Facebook representative told Reuters.-Nampa/ReutersADM to buy French animal nutrition business NeoviaArcher Daniels Midland Company is in exclusive talks to take over French animal feed business Neovia for 1.5 billion euros (US$1.8 billion) as part of the US farm giant’s strategy to expand in the fast-growing animal nutrition sector.Neovia is majority owned by French cooperative group InVivo. Investment group Eurazeo also has a 17% stake.The acquisition, first reported by Reuters, would make ADM a major player in the global animal feed industry, which the company says has sales of more than US$700 billion.-Nampa/ReutersWalmart creates new executive roleWalmart Inc has appointed a former American Express executive to the newly created role of chief customer officer, focused on attracting shoppers and offering better customer service, at a time when competition in the retail industry has made it tough to retain shoppers.The newly named executive, Janey Whiteside, will be responsible for both Walmart stores and its e-commerce offerings and will join the retailer on August 1, according to a memo sent to employees by Walmart US chief executive Greg Foran and e-commerce chief Marc Lore. Walmart provided a copy of the memo to Reuters.-Nampa/ReutersBoeing and Embraer close to final agreementPlanemakers Boeing Co and Embraer SA have prepared contracts of their proposed tie-up and are expected to submit them to the Brazilian government within two weeks, Brazilian newspaper Valor Economico reported on its website Monday.The companies said in April they were in talks to set up a new company focused on commercial aviation, excluding Embraer’s defense division and possibly its business jet unit. The tricky work of divvying up the three business segments of Embraer had been delaying the deal.-Nampa/ReutersDell moves to go publicCarl O'Donnell, Munsif VengattilDell Technologies Inc said on Monday it would pay US$21.7 billion in cash and stock to buy back shares tied to its interest in software company VMware Inc, returning the computer maker to the stock market without an initial public offering.Dell said the agreement values its equity at between US$61.1 billion and US$70.1 billion, more than twice the value of the US$24.9 billion deal that founder and chief executive officer Michael Dell and buyout firm Silver Lake clinched to take the company private in 2013.-Nampa/Reuters

Company news in brief

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Company news in brief

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