Starboard’s Smith warns a full board sweep is not always possible
NEW YORK (Reuters) – Activist investor Jeffrey Smith, whose Starboard Value hedge fund wants to replace the entire board at Yahoo Inc , said this approach often works best to revive an ailing company but cautioned that path is not always possible.
As global steel crisis grips, China says March output was a record
BRUSSELS/BEIJING (Reuters) – Under pressure to curb steel output and relieve a global glut, China said on Tuesday its production actually hit a record high last month as rising prices, and profits, encouraged mills that had been shut or suspended to re…
U.S. housing data adds to signs of weak first-quarter GDP growth
WASHINGTON (Reuters) – U.S. housing starts fell more than expected in March and permits for future home construction hit a one-year low, suggesting some cooling in the housing market in line with signs of a sharp slowdown in economic growth in the firs…
Global stocks rise as strike in Kuwait lifts oil prices
LONDON (Reuters) – Global stocks reached their highest levels since early December on Tuesday as oil prices rose, driven by a strike in Kuwait, and signs of economic stabilization in China improved demand for risky assets.
Netflix shares plunge as subscriber forecasts miss estimates
(Reuters) – Streaming video service Netflix Inc forecast U.S. and international subscriptions would grow at a slower pace than Wall Street expected this quarter, sending its shares tumbling 8 percent in after-hours trading on Monday.
Textron says it wins Boeing 777X flight simulator contract
(Reuters) – A unit of U.S. industrial conglomerate Textron Inc said on Tuesday it has won a contract from Boeing Co to design and manufacture flight simulators for 777X aircraft.
Anheuser-Busch InBev accepts Asahi offer for SAB’s Peroni
LONDON (Reuters) – Anheuser-Busch InBev , the brewer which is in the process of acquiring rival SABMiller , said it accepted an offer from Japan’s Asahi Group for Peroni and a group of other SAB beer brands.
Time to turn ‘structurally bullish’ on emerging stocks: BAML
LONDON (Reuters) – Bank of America Merrill Lynch (BAML) said on Tuesday it was turning “structurally bullish” on emerging equities, revising its five-year long negative view on the sector.
Debt-laden Valeant faces tough choices in asset sales
NEW YORK (Reuters) – As Valeant Pharmaceuticals considers a multibillion-dollar auction to pare down $30 billion in debt, its challenge will be choosing which assets to sell without compromising any of its key businesses, analysts and investment banker…
China sovereign fund to seek majority control of Yum unit: Bloomberg
(Reuters) – China Investment Corp [CIC.UL], China’s state-owned sovereign wealth fund, is backing a group of investors who have expressed interest in buying a majority stake in Yum Brands Inc’s China unit, Bloomberg reported, citing people with knowle…
