Best Buy CEO nearly halves stake in company, shares fall
(Reuters) – Best Buy Co Inc’s shares fell as much as 5 percent on Monday after Chief Executive Hubert Joly cut his stake in the electronics retailer by about 44 percent, two weeks after the company gave a disappointing current-quarter profit forecast….
U.S. top court rejects Ecuador challenge to Chevron arbitration award
WASHINGTON (Reuters) – The U.S. Supreme Court on Monday let stand a $96 million international arbitration award issued in 2011 in favor of energy company Chevron Corp in a dispute over the development of oil fields in Ecuador.
Morgan Stanley seeks approval to offer first U.S.-listed ETFs
NEW YORK (Reuters) – Morgan Stanley has asked securities regulators for the right to launch its first U.S.-listed exchange-traded funds, marking the latest example of a massive Wall Street investment manager courting investors’ growing use of those fu…
Exclusive: As Iran’s oil exports surge, international tankers help ship its fuel
SINGAPORE (Reuters) – More than 25 European and Asian-owned supertankers are shipping Iranian oil, data seen by Reuters shows, allowing Tehran to ramp up exports much faster than analysts had expected following the lifting of sanctions in January.
Pfizer’s opioid painkiller can be manipulated for abuse: FDA
(Reuters) – A long-acting opioid painkiller being developed by Pfizer Inc has the potential to deter abuse but can be manipulated, a preliminary review by the U.S. Food and Drug Administration showed.
Fresenius, Smiths in two-way race for Pfizer infusion pumps: sources
FRANKFURT (Reuters) – German healthcare supplier Fresenius and British engineering company Smiths Group have emerged as the final bidders for Pfizer’s infusion pumps business in a possible deal worth close to $1.5 billion, people familiar with the m…
Viacom CEO lawyers urge speedy trial, citing Redstone’s health
NEW YORK (Reuters) – Viacom’s Chief Executive Philippe Dauman, who is suing over his removal from Sumner Redstone’s trust, on Monday said in a court filing that a judge should expedite the matter because the 93-year-old media mogul is in ill health and…
After Airbus, Iran edges toward historic Boeing deal
DUBLIN (Reuters) – Iranair is discussing a historic aircraft purchase with Boeing, potentially matching an order for over 100 jets from Airbus, but obstacles to both deals need to be resolved so that last year’s accord to lift sanctions can be honored,…
Cancer drug prices highest in U.S. least affordable in India, China: study
CHICAGO (Reuters) – Americans pay the highest prices in the world for cancer drugs, but the treatments are least affordable in lower income countries, according to the results of a new study released on Monday.
Devon Energy to get nearly $1 billion from asset sales
(Reuters) – U.S. oil and natural gas producer Devon Energy Corp said it would sell assets in Texas for nearly $1 billion and that it was making progress on the sale of other assets as part of its plan to improve its finances through divestitures.
