CP revises offer for Norfolk Southern, rebuffed again
MONTREAL/TORONTO (Reuters) – Canadian Pacific Railway on Tuesday revised its bid to buy U.S. railroad operator Norfolk Southern Corp , less than a week after its prior $28.4 billion proposal was rejected but the new offer was promptly rejected again.
Pep Boys says Icahn’s buyout proposal could be superior
(Reuters) – U.S. auto parts retailer Pep Boys – Manny, Moe & Jack said its board determined that Carl Icahn’s offer to buy the company for $15.50 per share could result in a “superior proposal” compared with Bridgestone Corp’s offer.
AOL to cut 100 jobs, mainly in its dial-up business: Techcrunch
Caroline Campbell, an AOL spokeswoman, confirmed to Reuters that the company was re-aligning and a portion of its workforce has been impacted.
U.S. fed funds rate remains at 0.13 percent
NEW YORK (Reuters) – The U.S. federal funds rate <USONFFE=>, which banks charge each other to borrow excess reserves, averaged 0.13 percent for a fifth day on Monday, according to Federal Reserve data released on Tuesday.
Credit Suisse expects Swiss IPO market to rebound in 2016
ZURICH (Reuters) – Credit Suisse expects the market for initial public offerings in Switzerland to rebound next following an unexpectedly slow 2015, the Swiss lender’s head of domestic investment banking said on Tuesday.
FTSE Russell suspends Volkswagen from FTSE4Good index series
LONDON (Reuters) – Index provider FTSE Russell said on Tuesday it was suspending carmaker Volkswagen from its FTSE4Good index series because of an ongoing scandal over the firm’s cheating in diesel emissions tests.
France’s Publicis loses P&G contracts in U.S.
(Reuters) – French advertising agency Publicis Groupe has lost Procter & Gamble’s (P&G) media contracts in the United States, the company said on Tuesday, confirming media reports.
Oil edges off 2015 low but stocks stay slippery
LONDON (Reuters) – A surprise leap in Chinese commodity imports helped steady the ship for oil prices and energy-exposed currencies on Tuesday, although world stocks fell for the second day emerging market bourses hit a two-month low.
Kellogg, Sony and others sign up to emissions goals
PARIS/BERLIN (Reuters) – Kellogg , Sony , Coca-Cola Enterprises and a group of other companies have committed to targets certified by independent assessors to cut their carbon emissions, they said on Tuesday.
Low inflation to give biggest global pay boost in three years: study
LONDON (Reuters) – The slowing world economy looks set to get a boost from stronger consumer demand next year, as low inflation boosts the real value of workers’ pay rises to a three-year high, a survey said on Tuesday.
