Category | Business

Pershing Square sues U.S. over Fannie Mae, Freddie Mac

Posted on 14 August 2014

(Reuters) – Pershing Square Capital Management LP, the hedge fund firm run by William Ackman, has sued the U.S. government, claiming that its stripping of Fannie Mae’s and Freddie Mac’s profit illegally short changes investors in the mortgage companies…

Coca-Cola pays $2.2 billion for major stake in Monster Beverage

Posted on 14 August 2014

NEW YORK (Reuters) – Coca-Cola Co said Thursday it is making a cash payment of $2.15 billion for a 16.7 percent stake in Monster Beverage Corp as the world’s largest soda maker seeks to expand into faster-growing categories such as energy drinks.

Tim Hortons to battle Starbucks; price rises likely

Posted on 14 August 2014

TORONTO (Reuters) – Canadian coffee and donut chain Tim Hortons, which has offered only one coffee blend in its 50-year history, hopes to lure new coffee drinkers and fend off rivals such as Starbucks Corp and McDonald’s Corp with the launch throughout…

San Bernardino starts bondholder talks two years after bankruptcy

Posted on 14 August 2014

RIVERSIDE Calif. (Reuters) – San Bernardino, California, has begun face-to-face talks with some of its biggest creditors – bondholders and insurers – for the first time, two years after filing for bankruptcy in a case that has slowed to a crawl in the …

Pershing Square sues U.S. over Fannie Mae, Freddie Mac

Posted on 14 August 2014

(Reuters) – Pershing Square Capital Management LP, the hedge fund firm run by William Ackman, on Thursday sued the U.S. government, claiming that its stripping of profits from Fannie Mae and Freddie Mac unconstitutionally short changes investors in the…

Ebay in talks to take bitcoins at payments unit : WSJ

Posted on 14 August 2014

SAN FRANCISCO (Reuters) – Ebay Inc’s PayPal is in talks with Coinbase Inc and other bitcoin transaction providers to integrate the virtual currency within its Braintree payments system, The Wall Street Journal reported on Thursday.

Ebay in talks to take bitcoins at payments unit : WSJ

Posted on 14 August 2014

SAN FRANCISCO (Reuters) – Ebay Inc’s PayPal is in talks with Coinbase Inc and other bitcoin transaction providers to integrate the virtual currency within its Braintree payments system, The Wall Street Journal reported on Thursday.

Coca-Cola to buy 16.7 percent stake in Monster Beverage

Posted on 14 August 2014

NEW YORK (Reuters) – Coca-Cola Co. said Thursday it is making a cash payment of $2.15 billion for a 16.7 percent stake in Monster Beverage Corp as the company seeks to expand into faster-growing categories like energy drinks.

U.S. retailers feel the pinch as frugal shoppers curb spending

Posted on 14 August 2014

(Reuters) – Weak results from the likes of Wal-Mart Stores Inc and Macy’s Inc are the latest sign less affluent U.S. consumers are still pinching their pennies and the trend appears to be hurting upmarket retailers as well.

Sprint will introduce ‘disruptive’ prices next week: new CEO

Posted on 14 August 2014

OVERLAND PARK KANSAS/ WASHINGTON (Reuters) – Sprint Corp will implement “very disruptive” prices next week, newly appointed Chief Executive Officer Marcelo Claure said at a company-wide town hall meeting on Thursday, according to the telecommunications…

Berkshire Hathaway stock hits new milestone at $200,000

Posted on 14 August 2014

(Reuters) – Berkshire Hathaway Inc’s share price on Thursday surpassed and closed above $200,000 for the first time, the latest milestone for a company that Warren Buffett has built over nearly five decades into what some analysts view as a microcosm o…

Top U.S. hedge funds up Dollar General, Walgreen stakes

Posted on 14 August 2014

(Reuters) – Top U.S. hedge fund managers did some shopping for shares of discount retailer Dollar General Corp and drug store operator Walgreen Co in the second quarter.

Wall Street rises on hopes Ukraine conflict won’t escalate

Posted on 14 August 2014

NEW YORK (Reuters) – U.S. stocks ended higher on Thursday after conciliatory comments from Russia helped ease concerns about escalation of the conflict in Ukraine and offset some uninspiring earnings reports.

SEC charges Linkbrokers in $18 million securities fraud scheme

Posted on 14 August 2014

(Reuters) – The U.S. Securities and Exchange Commission said it charged brokerage Linkbrokers Derivatives LLC for taking profits of more than $18 million from customers by secretly manipulating the cost of securities trades processed by the firm.

SEC charges Linkbrokers in $18 million securities fraud scheme

Posted on 14 August 2014

(Reuters) – The U.S. Securities and Exchange Commission said it charged brokerage Linkbrokers Derivatives LLC for taking profits of more than $18 million from customers by secretly manipulating the cost of securities trades processed by the firm.

Rail oil tankers, victim of U.S. safety rules, also unwanted in Canada

Posted on 14 August 2014

WASHINGTON/CALGARY (Reuters) – Thousands of oil train tankers soon to be deemed obsolete in the United States are unlikely get a second life in Canada’s oil sands industry, undercutting a U.S. government forecast that the costly cars will continue in u…

Rail oil tankers, victim of U.S. safety rules, also unwanted in Canada

Posted on 14 August 2014

WASHINGTON/CALGARY (Reuters) – Thousands of oil train tankers soon to be deemed obsolete in the United States are unlikely get a second life in Canada’s oil sands industry, undercutting a U.S. government forecast that the costly cars will continue in u…

Electrolux, others in talks to buy GE’s appliances business

Posted on 14 August 2014

STOCKHOLM/NEW YORK (Reuters) – World number two home appliances maker Electrolux said it was in talks to buy General Electric’s household appliances business, seeking to increase its foothold in North America which is growing faster than its other main…

Electrolux, others in talks to buy GE’s appliances business

Posted on 14 August 2014

STOCKHOLM/NEW YORK (Reuters) – World number two home appliances maker Electrolux said it was in talks to buy General Electric’s household appliances business, seeking to increase its foothold in North America which is growing faster than its other main…

Top U.S. hedge funds up Dollar General, Walgreen stakes

Posted on 14 August 2014

(Reuters) – Top U.S. hedge fund managers did some shopping for shares of discount retailer Dollar General Corp and drug store operator Walgreen Co in the second quarter.

Fiat Chrysler growth plan challenged by possible merger delay

Posted on 14 August 2014

MILAN (Reuters) – Sergio Marchionne has shown he is determined to let nothing stand in the way of Fiat’s merger with Chrysler, but a share price slide may yet force the CEO to hit the brakes on plans to turn the world’s No. 7 carmaker into a top player…

Fiat Chrysler growth plan challenged by possible merger delay

Posted on 14 August 2014

MILAN (Reuters) – Sergio Marchionne has shown he is determined to let nothing stand in the way of Fiat’s merger with Chrysler, but a share price slide may yet force the CEO to hit the brakes on plans to turn the world’s No. 7 carmaker into a top player…

Cisco to take $700 million in restructuring charges for layoffs

Posted on 14 August 2014

(Reuters) – Network equipment maker Cisco Systems Inc said on Thursday its plan to slash 6,000 jobs will result in restructuring charges of $700 million in cash in the year ending July 2015.

Cohen, Point72 must face SAC insider trading lawsuit-judge

Posted on 14 August 2014

NEW YORK (Reuters) – A federal judge rejected billionaire investor Steven A. Cohen’s bid to dismiss lawsuits by Elan Corp and Wyeth shareholders who claimed they lost money because his firm SAC Capital Advisors LP conducted insider trading in the drugm…

Cisco to take $700 million in restructuring charges for layoffs

Posted on 14 August 2014

(Reuters) – Network equipment maker Cisco Systems Inc said on Thursday its plan to slash 6,000 jobs will result in restructuring charges of $700 million in cash in the year ending July 2015.