News Highlights: Top Company News of the Day – Wednesday at 1 PM ET

 FCA US First-Quarter Sales Fell 10%   

The automaker said total plug-in hybrid vehicle first-quarter U.S. sales increased 82% year over year.

   Ford Electric Vehicle Sales Surge Amid Mixed Results Among Automakers   

Ford Motor reported sales across its electric vehicles surged to start the year, a bright spot as the broader EV sector faces lingering challenges.

   Rio Tinto Faces Possible Norway Fund Divestment Over Alleged Deforestation Links   

The ethics adviser to Norway’s sovereign-wealth fund has told the miner that it is assessing it for it is assessing it for alleged environmental damage in the Brazilian Amazon.

   Google Is More Resilient Than Its AI Stumbles Imply   

Google’s stock has lagged behind other tech giants even as its search business proves resilient to AI incursions.

   Chase Bank to Let Advertisers Target Customers Based on Spending Data   

The JPMorgan Chase bank’s new unit called Chase Media Solutions will let marketers tempt Chase customers with targeted deals and discounts related to their spending history.

   French Asset Manager AXA IM to Buy Private-Equity Secondary Specialist W Capital   

The $900 billion investment manager is betting that more private-equity managers will use secondary transactions to generate returns from their funds.

   Disney Vote Is a Referendum on Bob Iger's Many CEO Contract Extensions   

Activist Trian Partners has criticized the company’s succession planning, which Disney says it is pursuing diligently.

   Communications Equipment Maker Casa Systems Files for Chapter 11   

The company said Vecima Networks will serve as the stalking horse bidder for its cable business, while Lumine Group will buy its 5G mobile core and RAN businesses.

   Lender Blue Owl Capital Pushes Into Insurance   

One of Wall Street’s fastest-growing firms is buying Kuvare Asset Management in a deal that will boost assets under management by $20 billion.

   New Markets Poised to Lift U.S. Cannabis in 2025   

Analysts and companies say they are expecting 2025 to be a boom year for cannabis cultivators if Florida and Pennsylvania can legalize recreational marijuana.

(END) Dow Jones Newswires

April 03, 2024 13:15 ET (17:15 GMT)

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