U.S. hedge fund steps up campaign against $8 billion Samsung asset shake-up
SEOUL (Reuters) – U.S. hedge fund Elliott ramped up its campaign against a proposed $8 billion merger of two Samsung Group [SAGR.UL] firms, creating a website to lay out its case and saying it wants corporate governance improvements rather than an unfa…
JPMorgan’s Jimmy Lee, a legendary rainmaker, dies
(Reuters) – Jimmy Lee, one of JPMorgan Chase & Co’s most important dealmakers, died on Wednesday, the bank’s chief executive said in a statement. He was 62.
Exclusive: GM and FCA line up financial advisers in merger stand-off
LONDON/MILAN/DETROIT (Reuters) – General Motors and Fiat Chrysler Automobiles (FCA) have turned to investment banks for help to deal with a stand-off as FCA seeks to force a merger with its Detroit-based rival, according to sources familiar with the ma…
Hedge fund Elliott: Samsung Group must offer fair price for restructuring
SEOUL (Reuters) – U.S. activist hedge fund Elliott said on Thursday South Korea’s Samsung Group [SAGR.UL] should make a fair offer to Samsung C&T Corp shareholders in seeking to combine the firm with Cheil Industries Inc .
JPMorgan’s Jimmy Lee, a legendary rainmaker, dies
(Reuters) – Jimmy Lee, one of JPMorgan Chase & Co’s most important dealmakers, died on Wednesday, the bank’s chief executive said in a statement. He was 62.
Oracle sales, profit miss estimates; shares fall
(Reuters) – Oracle Corp forecast quarterly profit below analysts’ estimates, and said weak sales of its traditional database software licenses were made worse by a strong U.S. dollar that lowered the value of foreign revenue.
Fed says U.S. economy strong enough to handle rate hike
WASHINGTON (Reuters) – The U.S. economy is growing moderately after a winter swoon and likely strong enough to support an interest rate increase by the end of the year, but concerns remain over the recovery of the labor market, U.S. Federal Reserve off…
Traders keep bets on December for first Fed rate hike
(Reuters) – U.S. short-term interest-rate futures contracts dropped, then rose, on Wednesday as traders tried to assess the likely timing of a first rate hike after Federal Reserve officials indicated they see the economy strong enough to handle a rate…
In California, Uber driver is employee, not contractor
(Reuters) – A driver for Uber is an employee, not a contractor, according to a California ruling that eventually could push up costs for the smartphone-based ride hailing service and hurt the closely watched start-up’s valuation.
Greece’s future in EU in doubt if talks fail, central bank warns
ATHENS (Reuters) – Greece’s leftist government faced a barrage of warnings on Wednesday that it risked being forced out of the euro zone and left without support if it failed to strike a swift aid-for-reforms deal with its creditors.
