TCI pushes Safran for independent committee to review Zodiac valuation
LONDON (Reuters) – Activist hedge fund TCI Fund Management on Monday called on Safran to set up an ad-hoc independent directors’ committee to review the company’s valuation of Zodiac Aerospace , according to a letter seen by Reuters.
Architect of modern VW cuts ties with share sale
BERLIN (Reuters) – Former Volkswagen Chairman Ferdinand Piech has agreed to sell a major part of his stake in the firm that controls Europe’s biggest carmaker, reducing his links with Volkswagen after more than two decades of undisputed rule.
Akzo Nobel CEO says PPG proposal is insufficient
AMSTERDAM (Reuters) – Akzo Nobel CEO Ton Buechner repeated on Monday his opposition to a March 20 takeover proposal from U.S. rival PPG Industries , saying he sees no merit in negotiating with PPG.
U.S. factory activity cools slightly; trend remains bullish
WASHINGTON (Reuters) – A measure of U.S. manufacturing activity retreated from a 2-1/2-year high in March amid a decline in production and an inventory drawdown, but a surge in factory jobs indicated that the sector’s energy-led recovery was gaining mo…
AIG taps into consumer fears with new cybersecurity product
NEW YORK(Reuters) – American International Group Inc is joining insurers offering products that offer consumers safeguards against hackers and cyber criminals who might steal personal data.
Wall Street down on weak auto sales, doubts about Trump agenda
(Reuters) – Wall Street closed slightly lower on Monday as March auto sales disappointed and investors questioned whether the Trump administration would deliver on its pro-business economic stimulus.
Burberry licenses fragrances and cosmetics business to Coty
LONDON (Reuters) – British luxury brand Burberry has agreed to license its fragrances and cosmetics business to Coty for $162 million, plus a $63 million payment for inventory, in a deal that will help it develop new products and give it the benefit …
RBS rising from ruins as shadow of former self
LONDON (Reuters) – Nine years after the beginning of a 45-billion-pound ($56 billion) bailout by the British government, Royal Bank of Scotland is emerging from its restructuring process a shadow of what was once the biggest lender in the world.
German court rebuffs VW complaint over prosecutors’ searches
MUNICH (Reuters) – A German court has rebuffed Volkswagen’s attempt to prevent prosecutors from using information seized during searches of the law firm which the carmaker had hired to investigate its emissions scandal.
Linde chairman ready to use casting vote for Praxair merger: FT
FRANKFURT (Reuters) – The chairman of German industrial gases group Linde is prepared to use his casting vote to push through a $65 billion merger with U.S. rival Praxair in the face of worker opposition, he told the Financial Times.
