Activist investors dig deep in energy company bets
NEW YORK (Reuters) – Elliot Management Corp. and Omega Advisors Inc. are among activist hedge funds buying stakes in North American oil and gas producers whose stock has fallen because of weaknesses exposed by the collapse of energy prices.
Wal-Mart, under pressure, boosts minimum U.S. wage to $9 an hour
(Reuters) – Wal-Mart Stores Inc said it would raise entry-level wages to $9 an hour, a 24 percent increase from the U.S. minimum wage that some employees now earn, succumbing to longstanding pressure to pay its workforce more.
CSX plans to bypass crude train derailment site: state officials
NEW YORK (Reuters) – CSX has notified state officials of its plans to bypass the scene of a crude train derailment and continue delivering oil to a terminal on the Virginia coast, emergency management officials from Virginia and West Virginia said Wedn…
Volkswagen to promote Porsche CEO to management board: source
FRANKFURT (Reuters) – Volkswagen Group is set to elevate Matthias Mueller, head of its sportscar brand Porsche, to its management board next week, a source familiar with the matter said on Thursday.
Switzerland flexes parliamentary muscle as scrutiny of HSBC intensifies
ZURICH (Reuters) – Swiss lawmakers plan to question the country’s financial watchdog about HSBC’s Swiss bank to determine whether parliament needs to take a more active role in investigation of a trove of details on alleged tax evasion by some of the b…
U.S. jobless claims fall as labor market gains momentum
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell more than expected last week, offering fresh evidence that the labor market was gathering steam.
GM names LyondellBasell lawyer as chief counsel
(Reuters) – General Motors Co on Thursday named Craig Glidden, chief legal officer at chemicals company LyondellBasell Industries NV , as general counsel, succeeding Michael Millikin, who is retiring in July.
Wal-Mart says port issue impacting supply of some goods
(Reuters) – Wal-Mart Stores Inc is experiencing delays in some merchandise due to the West Coast port disruptions, although moves to diversify its logistics have limited the impact, the head of the retailer’s U.S. operations said on Thursday.
BAE Systems sees U.S. defense spending on the turn
LONDON (Reuters) – BAE Systems , the world’s third-largest defense contractor by revenue, said it believed the worst was over for spending cuts in its key U.S. market as it forecast that earnings would return to growth in 2015.
Adidas launches search for new CEO
BERLIN (Reuters) – The board of German sportswear company Adidas has launched a formal search for a successor to long-serving Chief Executive Herbert Hainer, who has faced calls from some investors to step down after his contract was extended to 2017.
