Icahn reveals stake in Hertz, plans to push management
BOSTON (Reuters) – Billionaire investor Carl Icahn said on Wednesday that he owns an 8.5 percent stake in Hertz Global Holdings Inc and plans to pressure the rental car company’s management over accounting issues and operational failures.
About 25 percent of Detroit’s water and sewer bonds tendered so far
(Reuters) – Just over a quarter of Detroit’s $5.2 billion of outstanding water and sewer revenue bonds were returned to the city for repurchase on Wednesday, 24 hours before the tender offer was due to expire.
Policy delay has Japanese carmakers reviewing Philippines expansion plans
MANILA (Reuters) – Top Japanese automakers in the Philippines are threatening to shift production to cheaper Southeast Asian countries as the government drags its feet on a plan to rebuild its shrinking car manufacturing industry.
Dow, S&P 500 rise after Fed minutes reassure on rates
NEW YORK (Reuters) – U.S. stocks ended mostly higher on Wednesday, with the S&P 500 just missing a record close, after minutes from the Federal Reserve’s July meeting gave investors reason to believe that the central bank is in no rush to raise interest rates.
U.S. risk council takes next step in MetLife systemic review
WASHINGTON (Reuters) – The top U.S. financial risk council has gathered enough evidence to decide whether insurer MetLife should be designated as a systemically important firm, a source familiar with the situation said.
Car rental firm Hertz is latest victim of auto recalls
(Reuters) – While an improving U.S. economy has helped rev up demand for car rentals, the rental companies have found themselves short of vehicles due to the slew of recalls by car manufacturers this year.
Fed debates merits of earlier rate hike given U.S. jobs gains
WASHINGTON (Reuters) – The U.S. Federal Reserve hinted on Wednesday that a surprisingly strong jobs market recovery could lead it to raise interest rates earlier than it had been anticipating.
Exclusive: Ford plans new hybrid series to compete with Toyota Prius – sources
DETROIT (Reuters) – Ford Motor Co plans to introduce a new hybrid gasoline-electric car in late 2018 to compete against the best-selling Toyota Prius, two sources with knowledge of the company’s plans told Reuters on Wednesday.
BofA in $16.5 billion deal with U.S. over mortgage bonds: source
WASHINGTON (Reuters) – Bank of America Corp is expected to pay more than $16.5 billion to end investigations into mortgage securities that the bank and its units sold in the run-up to the financial crisis, in a deal that could be announced as early as …
Russia shuts four McDonald’s restaurants amid Ukraine tensions
MOSCOW (Reuters) – Russia ordered the temporary closure of four McDonald’s restaurants in Moscow on Wednesday, a decision it said was over sanitary violations but which comes against a backdrop of worsening U.S.-Russian ties over Ukraine.
