PRESS DIGEST – Wall Street Journal – Oct 15

Oct 15 (Reuters) – The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

– Authentic Brands Group LLC, owner of brands like Nine West and Aéropostale, is preparing a nearly $270 million bid for Barneys New York Inc with plans to license the brand to Saks Fifth Avenue, according to people familiar with the situation.

– Uber Technologies Inc is cutting about 350 jobs, or about 1% of its workforce, in its latest round of layoffs, as it faces market pressure to slash losses and assure investors it can turn a profit.

– Harley-Davidson Inc has stopped production and deliveries of its first electric motorcycle after discovering a problem related to the vehicle’s charging equipment, a major setback for a product the company is counting on to rejuvenate sales.

– Chinese billionaire Jia Yueting, the founder of electric-vehicle startup Faraday & Future Inc and an internet streaming service, filed for chapter 11 bankruptcy in the U.S., seeking protection from banks and other creditors that are owed as much as $3.6 billion. (Compiled by Bengaluru newsroom)

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