U.S. drops appeal of ex-Madoff employees’ sentences
NEW YORK (Reuters) – U.S. prosecutors on Monday dropped an appeal seeking to lengthen the prison sentences of five former employees of Bernard Madoff convicted for helping the imprisoned fraudster carry out his multibillion dollar Ponzi scheme.
CVC, Canada’s CPPIB to buy Petco for about $4.6 billion
(Reuters) – Petco Holdings Inc agreed to be acquired by CVC Capital Partners Ltd and the Canada Pension Plan Investment Board (CPPIB) in a $4.6 billion deal, after merger talks with market leader PetSmart Inc stalled last month due to antitrust concern…
Tight inventories, rising prices hurt U.S. home sales
WASHINGTON (Reuters) – U.S. home resales fell in October as a persistent shortage of properties limited choice for potential buyers and pushed up prices, suggesting some softening in the pace of the housing market recovery after strong gains early this…
Tyson Foods quarterly sales beat estimates; shares soar 10 percent
(Reuters) – Tyson Foods Inc , the biggest U.S. meat processor, reported better-than-expected quarterly sales on Monday, sending its shares up by over 10 percent as strong demand for chicken products and a boost from its purchase of sausage seller Hills…
NY probing alleged ‘ghosting’ of forex options
NEW YORK (Reuters) – New York Attorney General Eric Schneiderman’s office is investigating the posting of false bids and offers in the foreign exchange options market for emerging market currencies, a person familiar with the matter said on Monday.
E.coli outbreak looks set to infect Chipotle’s same-outlet sales
(Reuters) – Same-restaurant sales at Chipotle Mexican Grill Inc, hit by an E.coli outbreak at its restaurants, look set to decline for the first time since the burrito chain was spun off from McDonald’s Corp in 2006.
Elliott Management takes 6.4 percent stake in ‘undervalued’ Alcoa
(Reuters) – Hedge fund Elliott Management Corp disclosed a 6.4 percent stake in “undervalued” Alcoa Inc on Monday, sending the aluminum producer’s shares up as much as 6.3 percent.
Icahn says may push for new AIG director, discloses stake
(Reuters) – Activist investor Carl Icahn said he may propose adding a new director to American International Group’s board , saying Peter Hancock, AIG’s chief executive, was unlikely to “sincerely consider” his suggestion to split the company into thre…
Cognac makers ramp up U.S. efforts as China sips less
COGNAC, France (Reuters) – France’s centuries-old cognac houses are raising their bets on the U.S. market with new products and campaigns to broaden the drink’s appeal beyond its African American stronghold.
Fed’s Tarullo says worried about too-low inflation
WASHINGTON (Reuters) – Federal Reserve Governor Daniel Tarullo said on Monday there is still a lot of uncertainty on inflation and that the path of interest rate hikes should be influenced by how much inflation moves towards the Fed’s 2 percent target …
