Ackman’s fund asks SEC for exemption after campaign donation
BOSTON (Reuters) – Pershing Square Capital Management, the hedge fund firm run by billionaire William Ackman, wants to be exempted from possibly having to return millions of dollars in fees after a former employee donated $500 to a family friend’s poli…
State treasurers renew call for independent chair at Wells Fargo
(Reuters) – Investors, including the state treasurers of Connecticut and Illinois, called on Wells Fargo & Co to require an independent board chair, saying the bank needs stronger oversight in the wake of a scandal over fake customer accounts.
Consumers, exports give U.S. economy muscle in the third-quarter
WASHINGTON (Reuters) – The U.S. economy grew faster than initially estimated in the third quarter, notching its best performance in two years, buoyed by strong consumer spending and a surge in soybean exports.
U.S. judge delays court hearing on Volkswagen 3.0-liter diesels
WASHINGTON (Reuters) – U.S. District Judge Charles Breyer on Tuesday delayed a court hearing set for Wednesday on Volkswagen AG’s plan to address 80,000 polluting Audi, Porsche and VW 3.0-liter vehicles.
U.S. probes hit defunct energy co linked to Platinum Partners
NEW YORK (Reuters) – At least four U.S. agencies are investigating former officials of a now-bankrupt oil and gas company once majority owned by troubled hedge fund manager Platinum Partners, according to a legal filing submitted last week.
Saudi king showcases mining hub in push to move beyond oil
RAS AL-KHAIR, Saudi Arabia (Reuters) – Saudi Arabia’s King Salman underlined the kingdom’s intention to invest heavily in speeding up is diversification away from oil exports with the inauguration on Tuesday of a $35 billion mining and minerals process…
J&J raises Actelion takeover pressure with higher price: source
LONDON (Reuters) – U.S. healthcare company Johnson & Johnson has raised its offer for Actelion, a source told Reuters on Tuesday, stepping up pressure on the Swiss biotech firm to accept a takeover deal.
Samsung Electronics considers split as investor pressure builds
SEOUL (Reuters) – Tech giant Samsung Electronics Co Ltd , under pressure from shareholders to improve investor returns, said on Tuesday it will consider creating a holding company in what would be the biggest shake-up in its 47-year history.
Cyber Monday sales biggest online shopping day in U.S. history
(Reuters) – Shoppers spent $3.45 billion on Cyber Monday on Samsung 4K TVs, PlayStation 4s and Barbie dolls among other products, marking the largest online sales day in U.S. history.
Exclusive: ECB ready to buy more Italian bonds if referendum rocks market – sources
FRANKFURT (Reuters) – The European Central Bank is ready to temporarily step up purchases of Italian government bonds if the result of a crucial referendum on Sunday sharply drives up borrowing costs for the euro zone’s largest debtor, central bank sou…
