Heinz buyout by Buffett, Brazil’s 3G clears regulatory hurdles
NEW YORK (Reuters) – Ketchup maker Heinz Co said on Monday it has received all regulatory approvals needed to sell itself to Warren Buffett’s Berkshire Hathaway Inc and Brazilian financier Jorge Paulo Lemann’s private equity firm 3G Capital.
Ford’s Canadian auto sales higher in May on truck demand
TORONTO (Reuters) – Ford Motor Co’s Canadian vehicle sales rose 0.5 percent in May from a year earlier, the company said on Monday, as brisk demand for new trucks more than offset a decline in car sales.
Ford recalling 465,000 2013 models to check for fuel tank leaks
DETROIT (Reuters) – Ford Motor Co is recalling 465,000 2013 models to check for fuel tank leaks that could result in a fire. The automaker said it won’t have enough replacement parts for all owners until September.
Fidelity Contrafund cut Apple stake by 9 percent in April
BOSTON (Reuters) – Fidelity Investments’ Contrafund, the largest active shareholder in Apple Inc, cut its stake in the iPad and iPhone maker by a further 9 percent in April after expressing concern about heightened competition from rivals.
Factory activity edges up in May but growth sluggish: Markit
NEW YORK (Reuters) – Manufacturing picked up slightly in May, a survey showed on Monday, though the pace was still sluggish and suggested the sector may be a drag on the economy in the second quarter.
Lear settles with activist investors, expands board
(Reuters) – Auto parts maker Lear Corp avoided a proxy battle with investors Marcato Capital Management LLC and Oskie Capital Management LLC by agreeing to increase and quicken the pace of its share buyback program and add a board member.
Walmart U.S. offers gasoline discount to woo shoppers
NEW YORK (Reuters) – Walmart is cutting gasoline prices by up to 15 cents a gallon for drivers in 21 U.S. states who pay with its cards in an attempt to woo shoppers grappling with high prices at the pump.
Manufacturing data pulls back Wall Street from record highs
NEW YORK (Reuters) – Stocks declined on Monday after weaker-than-expected U.S. manufacturing data gave investors reason to book profits after both the Dow and S&P 500 set record closing highs in the prior session.
Cooling factory activity hints at slowing economy
WASHINGTON (Reuters) – Factory activity grew at the slowest rate in three months in March, suggesting the economy lost some momentum at the end of the first quarter as the effects of tighter fiscal policy started kicking in.
Chesapeake Energy will be on budget this year: CEO
HOUSTON (Reuters) – Natural gas company Chesapeake Energy Corp is on track to stay within its budget for the year, Steve Dixon, the newly appointed interim chief executive officer, said on Monday.
