Goldman sold 1.3 million Valeant shares backing loan to CEO, Valeant says
NEW YORK (Reuters) – Goldman Sachs sold 1.3 million shares of Valeant Pharmaceuticals International on Thursday, a day when the drug company’s shares fell as much as 20 percent, because they were securing loans made to Valeant CEO Michael Pearson that …
Volkswagen says will foot tax bill for carbon emissions blunder
(Reuters) – The multi-billion-euro costs facing Volkswagen rose on Friday when the German carmaker said it would foot the bill for extra taxes incurred by drivers because it understated the carbon dioxide emissions of about 800,000 cars in Europe.
U.S. companies drawn to Cuba, unsure if profits will follow
HAVANA (Reuters) – About 50 American businesses came to Havana this week for a trade expo, many of them intrigued but still unclear how to make money in a Communist-ruled country of 11 million people who have little purchasing power.
Berkshire profit doubles to record on Kraft Heinz
NEW YORK (Reuters) – Warren Buffett’s Berkshire Hathaway Inc said quarterly profit doubled to a record high, reflecting a large gain on its stake in Kraft Heinz Co , while operating profit declined on weaker results from insurance underwriting.
Surging U.S. job growth lowers bar for Fed rate hike
(Reuters) – Strong growth in the number of U.S. jobs last month bolstered the case for a December interest rate hike by the Federal Reserve, where officials had already begun to worry the economy might eventually overheat without higher borrowing costs…
Obama rejects Keystone XL pipeline in win for greens
WASHINGTON (Reuters) – U.S. President Barack Obama on Friday rejected the proposed Keystone XL oil pipeline from Canada in a victory for environmentalists who campaigned against the project for more than seven years.
Boeing, Lockheed protest U.S. Pentagon’s bomber award to Northrop
(Reuters) – Boeing Co and Lockheed Martin Corp on Friday filed a formal protest against the U.S. Air Force’s contract with Northrop Grumman Corp for a new long-range strike bomber, saying the selection process was “fundamentally flawed.”
Strong payrolls lift retailer hopes further
NEW YORK (Reuters) – Against the backdrop of a strengthening labor market, retailers are set to report earnings next week and could help the consumer sector regain the leadership lost to technology in the latest market rally.
Ex-BP engineer cleared of obstruction in Gulf of Mexico spill
NEW ORLEANS (Reuters) – A former BP Plc engineer charged with obstructing justice after the 2010 Gulf of Mexico oil spill pleaded guilty to a lesser charge on Friday and was sentenced to six months of probation, a U.S. Justice Department spokesman said…
UAW, Ford reach tentative contract deal, ratification vote next
DETROIT (Reuters) – Ford Motor Co and the United Auto Workers on Friday reached a tentative agreement for a new four-year labor contract, the union and company said.
