Elliott discloses NXP stake, Qualcomm’s $38 billion bid in its radar
(Reuters) – Activist investor Elliott Management Corp on Friday disclosed a 6 percent stake in chipmaker NXP Semiconductors NV , which is being bought by Qualcomm Inc for $38 billion, and indicated it could engage in talks to boost the offer price.
Clariant, Huntsman investor backs merger, fears fight is a distraction
ZURICH (Reuters) – A big investor in Clariant and Huntsman backs the chemical companies’ planned $20 billion merger, saying it would unlock synergies and lift profits more than any alternative from activists seeking to derail the deal.
Wells Fargo to pay U.S. $108 million over veterans’ loans
(Reuters) – Wells Fargo & Co will pay the U.S. government $108 million to settle a whistleblower lawsuit claiming it charged military veterans hidden fees to refinance their mortgages, and concealed the fees when applying for federal loan guarantees.
Volkswagen executive pleads guilty in U.S. emissions cheating case
DETROIT (Reuters) – Volkswagen AG executive Oliver Schmidt pleaded guilty on Friday in U.S. District Court in Detroit in connection with a massive diesel emissions scandal that has cost the German automaker as much as $25 billion.
Standard Chartered expects Brexit relocation will cost $20 million
LONDON (Reuters) – Standard Chartered will need to spend around $20 million making Frankfurt its European base in order to secure market access to the European Union when Britain leaves the bloc, Chief Executive Bill Winters told Reuters.
Viacom shares tumble 13 percent on affiliate sales woes
NEW YORK (Reuters) – Shares of Viacom Inc fell 13 percent on Friday, a day after the owner of MTV and Comedy Central forecast lower sales to U.S. pay-TV companies and streaming video services this quarter.
Munich prosecutors escalate Audi probe to board level
MUNICH (Reuters) – Munich prosecutors on Friday said a criminal probe into diesel manipulation at carmaker Audi has now reached the management board level.
Dow chalks up eighth record close in a row
(Reuters) – The Dow Jones Industrial Average ended at its eighth straight record high on Friday, with gains in JPMorgan Chase and other banks after data showed U.S. employers hired more workers than expected in July.
Activist Ackman looks for board seats, better returns at payroll firm ADP
(Reuters) – Billionaire investor William Ackman on Friday said his hedge fund had taken an 8 percent stake in Automatic Data Processing Inc and plans to ask for board seats so he can push the U.S. human resources outsourcing company to cut costs and i…
Daimler defends use of German auto industry committees
FRANKFURT (Reuters) – German carmaker Daimler defended industry committees on Friday, as cartel authorities examine allegations of collusion between BMW , Mercedes, Porsche, Audi and Volkswagen .
