Pfizer raises bid for AstraZeneca to $117 billion
LONDON (Reuters) – U.S. drugmaker Pfizer said on Sunday it had raised its offer for British rival AstraZeneca to 69.3 billion pounds ($116.6 billion), or 55 pounds a share, and would walk away if AstraZeneca did not accept it.
Deutsche Bank enlists Qatar in $11 billion capital hike
FRANKFURT (Reuters) – Deutsche Bank launched plans to raise 8 billion euros ($11 billion) in new capital on Sunday with the Qatari royal family a major new investor, in a bid by Germany’s largest bank to end questions about its capital strength.
GM legal department under scrutiny in company’s recall probe: report
WASHINGTON (Reuters) – General Motors’ legal department is the focus of an internal inquiry into how the company handled a vehicle safety defect linked to 13 deaths, the New York Times reported, citing two people with knowledge of the inquiry.
RBS to wind down interest-rate trading business
(Reuters) – Royal Bank of Scotland said on Sunday it is winding down its interest-rate trading business as capital and operating costs increase.
China goes local to soften hit from property downturn
BEIJING (Reuters) – China will increasingly manage its troubled property sector at a local level as it seeks to avoid sparking either an abrupt slowdown that undermines the economy or another surge in prices, according to government economists involved…
Facebook developing video-chat app to rival Snapchat: FT
NEW YORK (Reuters) – Facebook Inc is developing its own video-chat app, known internally as Slingshot, after its failed attempt to acquire mobile messaging startup Snapchat, the Financial Times reported on Sunday.
Exclusive: Intel CEO promises Broadwell PCs on shelves for holidays
SAN MATEO, California (Reuters) – Intel Corp’s next-generation Broadwell processors will ship in time to be used in personal computers sold during the holiday season but probably won’t be available for back-to-school shopping, Chief Executive Brian Krz…
Exclusive: Siemens seen making formal Alstom bid as early as this week
FRANKFURT/BERLIN/PARIS (Reuters) – Germany’s Siemens is working on a formal asset-swap offer for Alstom’s power business that could come as early as this week and see France take a stake in a resulting rail-focused French group, sources close to the ta…
U.S. private lenders not ready to replace Fannie, Freddie: regulator
WASHINGTON (Reuters) – The regulator of government-controlled mortgage finance firms Fannie Mae and Freddie Mac said on Sunday he would not oppose them having a smaller presence in the market but private capital had to be ready to take over first.
Ad deal collapse busts ‘merger of equals’ myth
NEW YORK (Reuters) – Mergers of equals were largely dead long before ad giant Omnicom Group Inc struck its ill-fated $35 billion deal with rival Publicis Groupe SA.
