Fenway Partners, four executives, to pay $10.2 million for disclosure lapses: SEC
(Reuters) – New York-based Fenway Partners LLC and four executives will pay a total of more than $10.2 million to settle charges that they failed to tell investors about payments to employees by one of its private equity fund companies, U.S. securities…
Sprint quarterly results miss forecasts, shares fall 7 percent
(Reuters) – Sprint Corp , the fourth largest U.S. wireless carrier, reported lower-than-expected quarterly results on Tuesday as promotional price cuts drove customer gains but weighed on growth.
Kellogg’s sales fall as U.S. consumers shun cereals and snacks
(Reuters) – Continued weak demand for cereals and snacks in the United States weighed on Kellogg Co , the maker of Corn Flakes and Cheez-It crackers, which reported a bigger-than-expected drop in quarterly net sales on Tuesday.
Activision Blizzard buys ‘Candy Crush’ maker in mobile push
DUBLIN (Reuters) – Video game maker Activision Blizzard will buy “Candy Crush Saga” creator King Digital Entertainment for $5.9 billion, as the heavyweight of console and PC-gaming makes a major push into the faster-growing mobile market.
Hyundai to push into premium auto market with standalone Genesis brand: sources
BEIJING (Reuters) – South Korean automaker Hyundai Motor Co appears set to launch a standalone global premium product line-up, to be called Genesis, as it seeks to boost profitability which is being squeezed by a strong won currency.
AIG CEO: Icahn’s break-up plan doesn’t ‘make financial sense’
(Reuters) – Breaking up American International Group Inc does not “make financial sense” Chief Executive Peter Hancock said on Tuesday, responding to proposals made by billionaire investor Carl Icahn last week.
BlackRock to buy Bank of America’s $87 billion money-market fund business
NEW YORK (Reuters) – Bank of America Corp, the No. 2 U.S. bank, has agreed to sell its $87 billion money-market fund business to BlackRock Inc in one of the cash-management industry’s largest deals ever.
Valeant’s crisis fuels feud between Ackman and Australian fund manager Hempton
NEW YORK (Reuters) – Just before Bill Ackman gave a presentation on Friday to defend one of his biggest investments, Valeant Pharmaceuticals, from allegations of accounting and insurance fraud, he was taunted by John Hempton, who runs a small hedge fun…
Ackman’s fund lost 7.3 percent in October, off 19 percent for year
BOSTON (Reuters) – Billionaire investor William Ackman’s Pershing Square Holdings portfolio has lost 19 percent this year after his bet on Valeant Pharmaceuticals International soured, turning one of last year’s biggest winners into one of this year’s …
UBS waters down targets on tougher economy, capital rules
ZURICH (Reuters) – UBS , Switzerland’s biggest bank, watered down some of its financial targets on Tuesday due to a tough economic backdrop and new Swiss capital rules, overshadowing a forecast-beating rise in third quarter net profit.
