Australia’s Investa says Blackstone pulls out of takeover race
Australian landlord Investa Office Fund (IOF) said on Thursday it had been advised by Blackstone Group LP that the private equity giant would not match Canada’s Oxford Properties Group’s A$5.60 per share takeover bid.
Alcoa’s profit beat fueled by rising alumina prices, shares rise
Top U.S. aluminum producer Alcoa Corp reported a better-than-expected quarterly profit on Wednesday, as a series of supply hits boosted alumina prices.
Corona maker’s CEO Rob Sands to step down, insider to replace him
Constellation Brands Inc’s Rob Sands is stepping down as CEO, ending an era in which the family-backed alcohol producer became one of the biggest beer brewers in the United States and placed a multi-billion dollar bet on the cannabis industry.
Wall St. falls as investors eye a united hawkish Fed
Wall Street’s major indexes edged lower after a choppy session on Wednesday after the Federal Reserve showed broad agreement on the need to raise borrowing costs further, cementing investor concerns that had helped cause a major sell-off the week befor…
At Facebook, public funds join push to remove Zuckerberg as chairman
Four major U.S. public funds that hold shares in Facebook Inc on Wednesday proposed removing Chief Executive Officer Mark Zuckerberg as chairman following several high-profile scandals and said they hoped to gain backing from larger asset managers.
Factbox: Tesla executive departures since 2016
Electric carmaker Tesla Inc has seen a flurry of senior executives leave the company in recent months.
Northrop Grumman wins $697 million U.S. defense contract: Pentagon
Northrop Grumman Corp has been awarded a $697 million U.S. defense contract for upgrades to the EA-18G Growler and EA-6B Prowler electronic warfare aircraft for the U.S. Navy and the government of Australia, the Pentagon said on Wednesday.
Senate panel wants to question Hyundai, Kia over engine fire reports
The Senate Commerce Committee’s Republican chairman and ranking Democrat said on Wednesday they had asked top U.S. executives at Hyundai Motor Co and Kia Motors Corp to testify at a Nov. 14 hearing on reports of engine fires involving vehicles from t…
Spotify takes minor stake in music distributor DistroKid
Music streaming service Spotify said on Wednesday it had taken a stake in DistroKid, a distribution service that allows recording artists to upload music across online stores and streaming platforms including Spotify’s biggest rival, Apple Music.
Corona brewer Constellation Brands’ CEO Rob Sands to step down
Corona beer maker Constellation Brands said on Wednesday its Chief Executive Officer Rob Sands will step down in March and be replaced by the company’s President Bill Newlands.
