Alcoa to buy titanium supplier RTI to boost aerospace business
CHICAGO (Reuters) – Alcoa Inc agreed to pay $1.3 billion to acquire titanium supplier RTI International Metals Inc, the metals company’s latest investment in more profitable products for the aerospace and automotive industries.
Bill Gross’s fund at Janus saw first monthly outflow in February
NEW YORK (Reuters) – Investors pulled $18.5 million from Bill Gross’s Janus Global Unconstrained Bond Fund in February, the first such cash withdrawal since the closely watched investor took on the portfolio in October, Morningstar said on Monday.
Brent premium to U.S. crude narrows on stockpile shift
NEW YORK (Reuters) – Benchmark Brent crude prices fell on Monday pressured by European Central Bank bond-buying, while U.S. crude rose on bullish storage data, leading to a narrowing gap between the two benchmarks.
Exclusive: Ackman’s Pershing Square makes $3.3 billion bet on Valeant
BOSTON (Reuters) – Billionaire investor William Ackman has purchased a five percent stake in Valeant Pharmaceuticals , his hedge fund said on Monday, making him the Canadian drug company’s fifth-largest stakeholder.
GM plans $5 billion share buyback, agrees deal to avert proxy fight
DETROIT (Reuters) – General Motors Co. said Monday it would launch a $5 billion share buyback in an effort to avert a proxy war with dissident investors, and detailed a plan that could allocate investors even more cash.
EU urges Greece to ‘stop wasting time’ on reform
BRUSSELS (Reuters) – The head of euro zone finance ministers urged Greece on Monday to “stop wasting time” and buckle down to serious talks on implementing a reform programme to secure urgently needed fresh funds from its international creditors.
Mall owner Simon pushes rival Macerich to do a deal
(Reuters) – Simon Property Group Inc offered to buy Macerich Co for $14.39 billion in a deal that would join the No. 1 and No. 3 U.S. shopping mall owners.
McDonald’s vows ‘modern’ makeover amid U.S. sales struggle
(Reuters) – McDonald’s Corp on Monday vowed to remake itself as a “modern, progressive burger company” after aggressive competition from Chipotle Mexican Grill Inc , Chick-fil-A and myriad “better burger” chains bit into U.S. restaurant sales last mont…
Volkswagen to invest $1 billion to expand plant in Mexico’s Puebla
PUEBLA, Mexico (Reuters) – German carmaker Volkswagen will invest around $1 billion to expand its plant in Mexico’s Puebla to produce the new Tiguan compact, the company said on Monday.
Starboard urges Yahoo to buy back up to $4 billion of shares
(Reuters) – Yahoo Inc shareholder Starboard Value LP said the company’s spinoff of its stake in Alibaba Group Holding Ltd was a “good first step” but it could do more, including a share buyback of up to $4 billion.
