Oil rally suggests supply worries wane, but for how long?
(Reuters) – A rally in U.S. crude oil prices recently has put the market on its firmest footing since the rout started in 2014, with the spread between prices for near-term delivery and future delivery narrowing, suggesting the worst of the supply glut…
Pfizer’s Anacor deal showcases new wave of eczema therapies
NEW YORK (Reuters) – Pfizer Inc’s purchase of Anacor Pharmaceuticals Inc heralds an approaching wave of potentially safer and more effective treatments for millions who suffer from eczema, a common skin condition which causes infection-prone rashes t…
Exclusive: USDA to join U.S. panel reviewing ChemChina’s Syngenta deal – sources
(Reuters) – The U.S. Department of Agriculture has agreed to join the U.S. government panel that is reviewing state-owned ChemChina’s planned $43 billion acquisition of Swiss seeds and pesticide maker Syngenta AG, people familiar with the matter said o…
Corvex discloses large Pandora stake, pushes for sale-letter
(Reuters) – Corvex Management LP disclosed on Monday that it owns 9.9 percent of Pandora Media Inc and urged the internet music streaming company to explore a sale instead of pursuing a “costly and uncertain business plan.”
Lending Club under probe by U.S. Justice Department, receives subpoena
(Reuters) – The U.S. Department of Justice has opened an investigation of Lending Club Corp , the online lender whose chief executive, Renaud Laplanche, was forced out last week after an internal probe found the company had falsified documentation when…
Warren Buffett’s Berkshire takes $1 billion bite of Apple
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc revealed a more than $1 billion stake in Apple Inc in a rare foray into the technology sector, which Buffett has largely shunned apart from a poorly performing investment in IBM .
Apple, energy shares shine as Wall Street rallies
(Reuters) – Wall Street rallied sharply on Monday, juiced by a jump in Apple shares and gains from energy stocks that were backed by stronger oil prices.
Office Depot considering sale of some European operations
(Reuters) – Office Depot Inc said on Monday it was considering selling some of its European operations, nearly a week after the No. 2 office supply chain and bigger rival Staples Inc called off their merger due to antitrust concerns.
Activist investor Icahn raises stake in AIG by 5.2 percent
(Reuters) – Activist investor Carl Icahn has raised his stake in American International Group Inc by 5.2 percent, putting him in a better position to pressure the insurer to split into three independent companies.
Rio Tinto submits feasibility study for Simandou project in Guinea
CONAKRY (Reuters) – Anglo-Australian mining giant Rio Tinto said on Monday it had submitted feasibility studies to the Guinea government for its massive Simandou iron ore project, considered the world’s biggest untapped iron ore deposit.
