Costco seeks China path that avoids Wal-Mart’s potholes
CHICAGO (Reuters) – By selling directly to Chinese consumers on Alibaba’s platform, a move announced Tuesday, Costco Wholesale Corp. aims to employ local knowledge and a low-cost structure to avoid missteps that caused even the world’s largest retailer…
Exclusive: Short seller Carson Block mulls starting hedge fund management firm
NEW YORK (Reuters) – Short seller Carson Block, the founder of research firm Muddy Waters LLC who has exposed accounting problems at a slew of Chinese companies, said on Thursday that he is seriously considering launching a hedge fund investment firm.
Exclusive: Goldman Sachs in talks to acquire ETF provider IndexIQ – sources
(Reuters) – Goldman Sachs Group is in discussions to acquire IndexIQ, a Rye Brook, New York-based exchange-traded fund provider, according to three sources familiar with the situation.
Exclusive: Commerzbank settlement with U.S. postponed amid probe
NEW YORK (Reuters) – Commerzbank AG’s settlement with U.S. authorities over alleged sanctions violations has been postponed, possibly until the end of the year, as prosecutors seek to coordinate the resolution of a separate probe stemming from transact…
Ackman: Lawyers have documents purported to show Allergan misled on Valeant
TORONTO (Reuters) – Billionaire investor William Ackman turned up the heat on Allergan Inc. on Thursday when he accused the Botox maker’s board of misleading investors to fend off a hostile takeover bid from Valeant Pharmaceuticals.
Exclusive: U.S. farmers seen cutting fertilizer use as crop prices slide
(Reuters) – U.S. farmers are cutting back on spreading fertilizer this autumn in response to a drop in crop prices to multi-year lows and a delayed harvest, dealers say, warning of a pullback that will be felt from grain markets to Canadian potash mine…
AbbVie board ditches planned $55 billion Shire acquisition
LONDON (Reuters) – U.S. drugmaker AbbVie has pulled the plug on its plan to buy Dublin-based Shire , recommending shareholders vote against the proposed $55 billion takeover following new U.S. tax rules.
New Tesco boss likely to sell assets to fund recovery plan
LONDON (Reuters) – Just six weeks into his job, Tesco boss Dave Lewis must look at selling assets in Britain and abroad as he battles to raise funds to pull the world’s No.3 grocer out of the deepest crisis in its 95-year history.
Goldman’s focus on bond trading pays off as profit soars
(Reuters) – Goldman Sachs Group Inc reported a 50 percent jump in quarterly profit as last month’s pickup in bond market activity helped to boost trading revenue, showing that banks sticking with the notoriously volatile business can reap big rewards.
PayPal spinoff seen critical for eBay amid e-commerce weakness
(Reuters) – A recovery in eBay Inc’s core e-commerce business will take longer than expected and any gains for investors would have to come from the separation of its PayPal unit, analysts said, a day after the company trimmed its full-year revenue for…
