Microsoft sells patents to Xiaomi, builds ‘long-term partnership’
SINGAPORE (Reuters) – Software maker Microsoft Corp is selling about 1,500 of its patents to Chinese device maker Xiaomi [XTC.UL], a rare departure for the U.S. company and part of what the two companies say is the start of a long-term partnership.
Nippon Steel looks to break up Usiminas after CEO appointment: source
SAO PAULO (Reuters) – A change of chief executive at Brazilian steelmaker Usiminas has accelerated plans for controlling shareholders Nippon Steel & Sumitomo Metal Corp and Ternium SA to break up the company, a source close to the Japanese firm said on Tuesday.
China factory activity expands again in May but at tepid pace – official PMI
BEIJING (Reuters) – Activity in China’s manufacturing sector unexpectedly expanded for the third straight month in May but growth remained weak as orders softened, suggesting the world’s second-largest economy is still struggling to regain traction.
N.Y. Mets owners reach revised deal with Madoff trustee
NEW YORK (Reuters) – The owners of the New York Mets baseball team have reached a revised agreement with the trustee seeking to recoup money for the victims of Bernard Madoff’s fraud that gives them more time to pay up to $61 million, the parties annou…
Wall St. ends May with whimper as energy shares slump
(Reuters) – The S&P 500 wrapped up its third straight month of gains on a flat note on Tuesday as weaker energy shares countered a rise in safe-haven utilities.
Valeant’s former CEO to receive $9 million severance payment, other fees
NEW YORK (Reuters) – Michael Pearson, the former chief executive officer of Valeant Pharmaceuticals International , will receive a $9 million severance payment and agreed to a consulting agreement worth hundreds of thousands of dollars, according to a …
Viacom CEO, board face tough fight against Redstone: experts
NEW YORK (Reuters) – Viacom Inc’s chief executive and independent directors would face an uphill courtroom battle to remain on the board if controlling shareholder Sumner Redstone followed through on a threat to remove them, legal experts said on Tues…
Shari Redstone says she does not want to manage Viacom
LOS ANGELES (Reuters) – Shari Redstone, vice chair of Viacom Inc and the daughter of controlling shareholder Sumner Redstone, said on Tuesday she has no desire to manage the media conglomerate or to chair its board.
Bank of America targets wealthiest clients with more advisers
(Reuters) – Bank of America Corp’s U.S. Trust business plans to add more than 100 financial advisers who cater to the super-rich as part of its strategy to grow wealth-management revenue, a U.S. Trust executive said on Tuesday.
Boeing wins $3.2 billion U.S. defense contract: Pentagon
WASHINGTON (Reuters) – Boeing Co was awarded a $3.2 billion contract modification to a previously awarded contract for Joint Direct Attack Munition (JDAM) tailkits, the Pentagon said on Tuesday.
