Third Point takes 1.6 million share stake in BlackRock, 4.5 million in Alibaba
NEW YORK (Reuters) – Dan Loeb’s Third Point took a 1.6 million-share stake in BlackRock Inc and reinitiated a stake in Alibaba Group Holding of 4.5 million shares during the second quarter ended June 30, according to regulatory filings late on Friday…
Bond investors give Tesla a $1.8 billion endorsement
NEW YORK (Reuters) – Bond investors on Friday gave a $1.8 billion boost to Tesla Inc’s balance sheet by snapping up the electric car maker’s first foray into the U.S. junk bond market, where yield-hungry investors have raced to lock in relatively high…
Audits show lax oversight by Wisconsin agency counting Foxconn jobs
CHICAGO (Reuters) – The Wisconsin agency tasked with holding Foxconn accountable for delivering up to 13,000 jobs in exchange for $1.5 billion in state payroll tax credits has a history of failing to verify job-creation claims and rewarding companies t…
GM blasts $1 billion deal between ignition switch plaintiffs, creditor trust
(Reuters) – Plaintiffs suing General Motors Co over faulty ignition switches and other alleged vehicle defects have reached a $1 billion settlement requiring the automaker to turn over that amount of stock, a lawyer for the plaintiffs said in a court …
Monte dei Paschi reports 3.1 billion euro loss as state steps in
MILAN (Reuters) – Monte dei Paschi di Siena reported a 3.1 billion euro ($3.7 billion) second-quarter loss after additional writedowns on the bad loans Italy’s fourth biggest bank is selling as part of its bailout by the state.
FTC says it closes investigation of Honeywell, Du Pont agreements
WASHINGTON (Reuters) – The U.S. Federal Trade Commission said on Friday it had closed its investigation of several agreements between Honeywell International Inc and E I du Pont de Nemours and Co related to the sale of a next-generation refrigerant i…
Cash-strapped SoundCloud gets new funds and top management
FRANKFURT (Reuters) – SoundCloud, the world’s most popular streaming music app, but one that has struggled to find a profitable business model, said it received new funding on Friday, insulating it from potentially running out of cash this year.
JP Morgan Asset Management says will absorb research costs due to MiFID-II
LONDON (Reuters) – JP Morgan Asset Management said on Friday that it will absorb the cost of paying brokers for investment research rather than pass it on to its clients when new European regulation comes in next year.
Modest rise in U.S. consumer prices may delay Fed rate hike
WASHINGTON (Reuters) – U.S. consumer prices rose slightly in July as higher food costs were partly offset by falling prices for a range of other goods, suggesting benign inflation that could persuade a cautious Federal Reserve to delay raising interest…
Wall Street rises on Fed bets but North Korea mutes gains
(Reuters) – The three major U.S. stocks indexes ended higher on Friday, snapping three days of losses, as investors bet on slower U.S. rate hikes, but gains were muted by increasingly aggressive exchanges between the United States and North Korea.
