Fox reports higher profit, insists no deals in the works
(Reuters) – Twenty-First Century Fox Inc, the film and TV company controlled by Rupert Murdoch, reported a quarterly profit that beat Wall Street’s expectations as executives stressed that they would not make a new bid for Time Warner Inc.
Samsung’s next reinvention challenge: itself
SEOUL (Reuters) – As its smartphone sales stutter and a generational leadership succession looms, Samsung Electronics Co Ltd is under pressure to reinvent itself – to be more innovative, but not lose the rigor and focus that made it a global powerhouse…
Wall Street ends near flat as Russia concerns linger
NEW YORK (Reuters) – Major U.S. stock indexes ended little changed on Wednesday, as tensions in Ukraine and Russia and a failed merger between Sprint and T-Mobile offset gains in consumer staples shares.
Shareholder adviser ISS backs Ackman call for Allergan meeting
(Reuters) – Institutional Shareholder Services (ISS) is backing activist investor Bill Ackman’s call for a special meeting of Allergan Inc investors that could topple the company’s board and increase the chances of a takeover by Valeant Pharmaceuticals…
JPMorgan wins dismissal of Los Angeles lawsuit over mortgage lending
(Reuters) – JPMorgan Chase & Co has won the dismissal of a lawsuit by the City of Los Angeles accusing the largest U.S. bank of steering minority borrowers into mortgages they could not afford, even after similar cases against the next three largest banks were allowed to go forward.
Top Fidelity fund managers frowned on Valeant amid Botox bid
BOSTON (Reuters) – Two of Fidelity Investments’ top stockpickers unloaded most of their holdings in Valeant Pharmaceuticals Inc after the drugmaker in April unveiled its bid for Botox maker Allergan Inc in what is one of 2014’s most contentious takeove…
Walgreen to keep U.S. tax domicile after buying Alliance Boots
(Reuters) – U.S. retailer Walgreen Co said it would not use a full takeover of Europe’s biggest pharmacy chain, Alliance Boots [ABN.UL], to move its domicile overseas, following fierce criticism of such tax-cutting deals at home.
U.S. Treasury looks to hold more cash to deal with future crises
WASHINGTON (Reuters) – The U.S. Treasury wants to increase its daily cash holdings, a measure that would help Washington pay its bills during a crisis, a senior official said on Wednesday.
BofA raises dividend for first time in 7 years
(Reuters) – Bank of America Corp BAC.N said on Wednesday the Federal Reserve has approved its plan to raise its quarterly dividend for the first time since the financial crisis.
U.S. trade gap at five-month low, to boost second-quarter GDP
WASHINGTON (Reuters) – The U.S. trade deficit narrowed more than expected in June as petroleum imports dropped to a 3-1/2-year low, suggesting that trade was less of a drag on second-quarter economic growth than initially thought.
