Royalty Pharma raises bid for Elan to potential $8 billion
DUBLIN/NEW YORK (Reuters) – Royalty Pharma on Friday raised its hostile bid for Irish drug firm Elan to a potential $8 billion, the third increase in five months.
Hedge fund that manages SAC money had tough year through April
NEW YORK (Reuters) – As billionaire investor Steven A. Cohen deals with a spate of redemptions out of his own hedge fund, another firm in which his SAC Capital Advisors has money saw returns plummet in the first four months of the year.
LPL hires chief risk officer from Morgan Stanley’s wealth unit
(Reuters) – LPL Financial Holdings Inc has hired the global chief risk officer from Morgan Stanley’s wealth division at a time when it comes under increased scrutiny over its ability to supervise more than 13,000 independent stockbrokers.
Wal-Mart annual meeting: glitz, songs, stock buyback, protests
FAYETTEVILLE, Arkansas (Reuters) – Wal-Mart Stores Inc’s board approved a $15 billion stock repurchase plan, its first in two years, the world’s largest retailer announced at its annual meeting on Friday.
Exit strategies, spillovers vex G20 finance officials
ST PETERSBURG, Russia (Reuters) – The Group of 20 nations is intensifying its debate on how to withdraw the fiscal and monetary stimulus measures that developed nations have used to counter economic recession, Russia said on Friday.
Analysis: Brazil shifts course after Rousseff’s bet goes bad
SAO PAULO (Reuters) – President Dilma Rousseff’s big gamble for 2013 was that Brazil had matured enough for investors to accept permanently lower interest rates, looser fiscal policy, and lower returns on big infrastructure projects like new highways.
How much jobs growth is enough? Fed papers show divide
SAN FRANCISCO (Reuters) – In the debate over when the Federal Reserve is likely to start scaling back its massive bond-buying stimulus, the number of jobs the economy generates is key.
Playing the shale gas boom – Chart Industries
Ten years ago, Chart Industries Inc was on the verge of bankruptcy after taking on too much debt during a spree of acquisitions that included an equipment maker for storing cryogenic liquids like liquefied natural gas.
Full payout to Lehman customers begins Friday: trustee
NEW YORK (Reuters) – The trustee liquidating Lehman Brothers’ collapsed brokerage will begin a round of distributions on Friday that should result in institutional customers getting all their money back, trustee James Giddens said.
Bundesbank dampens optimism over German economy
BERLIN (Reuters) – German industrial output and trade activity rose sharply in April but the Bundesbank cut its growth forecast for this year, saying Europe’s largest economy would slow down again after a second-quarter surge.
