Forest Labs to add Icahn rep to board, avert proxy fight
(Reuters) – Forest Laboratories Inc said on Tuesday it will add a representative of Carl Icahn as an independent member to its board, averting a new proxy battle with the billionaire investor.
FINRA warns investors on alternative mutual funds
NEW YORK (Reuters) – Wall Street’s industry-funded watchdog warned investors on Tuesday about the risks associated with so-called alternative mutual funds.
Fidelity replaces manager after mixed picks on financial stocks
BOSTON (Reuters) – Benjamin Hesse’s 1-year return as a stock picker in the brokerage and investment sector crushed most of his competition.
Praet says ECB has room to cut rates lower
FRANKFURT (Reuters) – The European Central Bank has room to cut interest rates further, Executive Board member Peter Praet said on Tuesday, adding that the central bank is paying “great attention” to euro zone inflation, currently below its target.
Encana names BP Gulf spill veteran as its new CEO
CALGARY/HOUSTON (Reuters) – Encana Corp named former BP Plc executive Doug Suttles, who played a major role in responding to BP’s disastrous 2010 Gulf oil spill, as its new chief executive on Tuesday as Canada’s largest natural-gas producer searches fo…
Lululemon CEO search sparks concern, market jitters
TORONTO (Reuters) – Shares of Lululemon Athletica Inc plunged on Tuesday on worries that it will not be easy for the high-end yogawear maker and retailer to replace outgoing Chief Executive Christine Day, the company’s very public face.
Airbus sets A350 maiden flight for Friday: source
PARIS (Reuters) – European planemaker Airbus has set Friday June 14 as the date for the maiden flight of its A350 passenger jet, a source familiar with the plans said on Tuesday.
Google buys Israel’s Waze to keep mobile maps lead
SAN FRANCISCO (Reuters) – Google Inc bought Israeli mapping startup Waze on Tuesday for just over $1 billion, a source familiar with the matter said, acquiring an online real-time mapping service to safeguard its lead in one of the most crucial aspects…
Dole’s 90-year-old CEO offers to take company private
(Reuters) – At an age when many 90-year-olds are satisfied with playing gin rummy in a nursing home, Dole Food Co Inc Chief Executive David Murdock is planning his next big deal.
SoftBank raises Sprint offer, wins key shareholder support
TOKYO/NEW YORK (Reuters) – Japanese mobile operator SoftBank Corp said it agreed with Sprint Nextel Corp to raise its offer for the U.S. wireless carrier to $21.6 billion from $20.1 billion, as it fights off a counter bid by Dish Network Corp .
