Novartis executive exodus complicates drugmaker’s rebuilding job
ZURICH (Reuters) – With seven departures in the space of five months, Novartis’s top management is in upheaval just as CEO Joe Jimenez tries to tackle a list of challenges that have seen the drug firm’s share price fall 25 percent since July.
Oil slides on Iran supply, U.S. rigs; Cushing draw cuts loss
NEW YORK (Reuters) – Oil prices slid early on Monday as Iran vowed to ramp up output and rig reductions paused in the United States, then crude futures pared losses on data showing a stockpile drawdown at the U.S. delivery hub.
Investor groups call for new probe of VW scandal
FRANKFURT (Reuters) – Three investor groups called on Monday for a new, independent investigation into Volkswagen’s emissions test-rigging scandal, saying the inquiries launched by the German carmaker so far may not be far-reaching or transparent enou…
Valeant CEO Papa plans to lower debt by more than $1.5 billion in 2016
NEW YORK (Reuters) – Valeant Pharmaceuticals Inc plans to lower its debt by at least $1.5 billion this year, Chief Executive Officer Joseph Papa said on Monday during his first large meeting with investors since taking the top job three weeks ago.
U.S. top court rejects Dow bid to restore $30.5 million in patent damages
WASHINGTON (Reuters) – The U.S. Supreme Court on Monday rejected a Dow Chemical Co bid to salvage $30.5 million in patent infringement damages in a lengthy legal fight with Nova Chemicals Corp[INPTVN.UL] over two patents relating to plastic film.
Nissan likely to send former tech chief to lead reform at Mitsubishi: sources
TOKYO (Reuters) – Nissan Motor Co , which plans to spend $2.2 billion on a one-third controlling stake in Mitsubishi Motors Corp , aims to place its former global tech chief in charge of reform at its smaller rival, which is mired in a fuel economy dat…
Global stocks see-saw, yields slip as investors get week off to cautious start
LONDON (Reuters) – Stocks seesawed on Monday while oil, the dollar and bond yields all fell as investors began the week cautious about prospects that U.S. interest rates could soon be raised.
GE says to double Saudi workforce as economy reforms
DUBAI (Reuters) – Saudi Arabia won support for its economic reform plan from one of the world’s biggest companies on Monday as General Electric Co (GE) said it would double its workforce in the kingdom to 4,000 people by 2020.
Insurer AXA to pull out of tobacco investments
PARIS/LONDON (Reuters) – French insurer AXA plans to stop investing in the tobacco industry, citing the impact of smoking on public health, and said it plans to sell its 1.8 billion euros ($2.02 billion) of assets in the sector.
Exclusive: CME bids to boost its metal storage network, challenge LME
LONDON (Reuters) – The CME Group is talking to several warehouse companies to expand its metal storage network globally, three metal industry sources told Reuters, a move that could further challenge the London Metal Exchange’s (LME) dominance.
