Ackman’s fund sells 5 million Valeant shares to generate tax loss
BOSTON (Reuters) – Billionaire investor William Ackman said on Thursday he sold about 5 million shares in drug company Valeant International in order to generate a tax loss as investors in his Pershing Square Capital Management face the biggest loss in…
Wall Street suffers feeble end to turbulent 2015
(Reuters) – Wall Street dropped on Thursday, leaving the S&P 500 marginally lower for a year marked by record highs as well as a major selloff.
Oil ends 2015 down 35 percent; long, painful hangover seen
NEW YORK/LONDON (Reuters) – Oil prices rose on Thursday but fell as much as 35 percent for the year after a race to pump by Middle East crude producers and U.S. shale oil drillers created an unprecedented global glut that may take through 2016 to clear…
Swiss bank Lombard Odier to pay $100 million to resolve U.S. tax probe
ZURICH (Reuters) – Swiss private bank Lombard Odier said it would pay $99.8 million under a non-prosecution agreement with U.S. authorities to settle an investigation into allegations it helped wealthy American clients evade taxes.
Apple shares to close year with worst performance since 2008
NEW YORK (Reuters) – Shares of Apple Inc, the largest U.S. company by market value, are set to finish the year in the red on notable weakness for a stock that had largely been impervious to pain for several years.
Lockheed wins $5.3 billion contract for C-130J aircraft
(Reuters) – U.S. weapons maker Lockheed Martin Corp said on Thursday it would deliver a total of 78 C-130J Super Hercules aircraft to the U.S. government as part of a multiyear contract, worth $5.3 billion.
Global stocks slip to close year mixed; oil up modestly to end ugly 2015
NEW YORK (Reuters) – Stock and bond markets in major economies were set to close 2015 with a mixed performance, while oil prices and emerging markets cemented big losses during a year that provided few safe places for investors.
American Airlines merges operations of unit U.S. Airways
(Reuters) – American Airlines Group Inc said its unit U.S. Airways Group merged with the company, as part of efforts to integrate operations of the businesses following a merger in 2013.
Champagne sales set for record year
PARIS (Reuters) – Champagne sales are set for a record year, driven by solid demand from export markets, favorable currencies and stabilizing sales in France, the fizzy drink’s home market.
VW scandal could kill U.S. diesel car market, Continental CEO says
FRANKFURT (Reuters) – Volkswagen’s emissions test-cheating scandal could kill nascent markets for diesel cars in North America, Japan and China, the chief executive of automotive supplier Continental has told a German newspaper.
