Chinese M&A surge seen ebbing as U.S. campaign heats up
HONG KONG (Reuters) – After snapping up assets at a record pace so far this year, Chinese buyers are expected to hold back in the run-up to the U.S. presidential election in November, nervous that campaign rhetoric might invite closer regulatory scruti…
Lured by hopes of easy money, amateur Chinese commodity traders lose their shirts
SHANGHAI/BEIJING (Reuters) – Chasing the promise of outsized returns, 48-year-old businessman He Xiaolun started trading oil last August on a platform developed by the Shaanxi Non-ferrous Metal Exchange.
Genentech, OSI to pay $67 million over drug claims: U.S. Justice Dept
WASHINGTON (Reuters) – Pharmaceutical companies Genentech and OSI Pharmaceuticals LLC will pay $67 million to resolve allegations they made misleading statements about the effectiveness of lung cancer drug Tarceva, the U.S. Justice Department said on M…
S&P 500 ends at seven-month high after Yellen comments
(Reuters) – The S&P 500 closed at a 7-month high on Monday as Federal Reserve Chair Janet Yellen painted a mostly upbeat picture of the economy but gave little sense of when a rate hike may be coming.
Viacom bylaw change raises bar for Paramount sale
(Reuters) – Sumner Redstone’s National Amusements Inc amended the bylaws of Viacom Inc to require unanimous approval from Viacom’s board for any deal related to Paramount Pictures, creating a new hurdle for Chief Executive Philippe Dauman’s plan to se…
Fed’s Yellen sees rate hikes ahead, but few hints on when
PHILADELPHIA (Reuters) – Federal Reserve Chair Janet Yellen on Monday gave a largely upbeat assessment of the U.S. economic outlook and said interest rate hikes are coming but, in an omission that stood out to some investors, gave little sense of when….
Auction for Warren Buffett charity lunch starts slow
(Reuters) – The annual charity auction for a private lunch with billionaire investor Warren Buffett is underway.
U.S. Supreme Court lets Google advertising class action suit proceed
WASHINGTON (Reuters) – The U.S. Supreme Court on Monday let stand a lower court’s decision to allow a class action lawsuit against Google Inc to proceed regarding claims that the company deceived California advertisers about the placement of Internet a…
Wall St. pours money into consumer staples as valuations climb
SAN FRANCISCO (Reuters) – Investors looking for stability and dividends have been pouring money into consumer staples stocks of late, ignoring warnings from Wall Street’s analysts about pricey valuations for companies like Clorox and Campbell Soup .
T-Mobile to give each customer one share, launches gift app
(Reuters) – T-Mobile US Inc said on Monday it will give a full share of the wireless company’s stock to every primary postpaid account holder to turn its customers into shareholders.
