Wall Street pulls back after recent rally
(Reuters) – U.S. stocks ended weaker on Monday, pulling back from a recent rally that took them to new 2016 highs, as losses in commodity-related and industrial shares offset gains in healthcare.
Pimco says had ‘good cause’ to fire Bill Gross: filing
(Reuters) – Pacific Investment Management Co said former bond manager Bill Gross’ abusive conduct and effort to “sabotage colleagues he deemed disloyal gave it “good cause” to oust him, and not pay any of the more than $200 million of damages he now se…
U.S. regulator sues ValueAct over Halliburton-Baker Hughes disclosures
(Reuters) – The U.S. Department of Justice on Monday sued ValueAct Capital for violating notification requirements related to Halliburton Co’s deal to buy rival Baker Hughes Inc , in a case that the activist hedge fund says it will fight.
Tesla says parts shortages hampered first-quarter sales
DETROIT (Reuters) – Tesla Motors Inc said on Monday that parts shortages hampered vehicle production and sales in the first quarter, but the electric car maker still plans to build 80,000 to 90,000 vehicles this year.
From Silicon Valley to Main Street, firms say SunEdison owes money
LOS ANGELES (Reuters) – Businesses ranging from Silicon Valley venture capitalists to a small Massachusetts solar installer say they are owed money by SunEdison Inc, underscoring the breadth of a breakneck expansion seen contributing to the solar and w…
Alaska Air to buy Virgin America for $2.6 billion
NEW YORK (Reuters) – Alaska Air Group Inc said on Monday that it would buy Virgin America Inc for $2.6 billion in cash to become the top carrier on the U.S. West Coast and compete more effectively with larger airlines.
U.S. does not plan to grant Iran access to U.S. financial system
WASHINGTON (Reuters) – The Obama administration does not plan to give Iran access to the U.S. financial system, a State Department spokesman said on Monday.
Anheuser’s Leffe is not Belgian ‘abbey’ beer: U.S. lawsuit
(Reuters) – Anheuser Busch Inbev SA has been sued by a U.S. beer drinker who claimed he was duped into believing its Leffe brand beer was brewed in a Belgian abbey, rather than mass produced in an automated factory that also makes Stella Artois.
Honeywell names chief operating officer seen as CEO-in-waiting
NEW YORK (Reuters) – Honeywell International Inc on Monday named Darius Adamczyk as its first president and chief operating officer, a newly created role seen as a step toward designating a successor to Chief Executive Dave Cote, who has led the compan…
U.S. top court rejects Wal-Mart, Wells Fargo class action appeals
WASHINGTON (Reuters) – The U.S. Supreme Court on Monday rejected two corporate challenges in class action cases, refusing to hear bids by Wal-Mart Stores Inc and Wells Fargo & Co to throw out large judgments against them.
