AstraZeneca rejects Pfizer’s raised bid of $106 billion
LONDON (Reuters) – U.S. drugmaker Pfizer Inc increased its offer for AstraZeneca Plc to 63 billion pounds ($106 billion) on Friday, but the British company promptly rejected the proposal, which would create the world’s biggest pharmaceuticals company.
Airbus says A330 ‘more challenging’, supply base stable
PARIS (Reuters) – Airbus warned on Friday it faces increased challenges in managing the order book for its A330 wide-body jet beyond 2016, highlighting the stakes involved as the European planemaker considers an engine revamp for its most profitable lo…
Shareholders to go public with Pimco worries at Allianz AGM
FRANKFURT (Reuters) – Allianz shareholders will publicly press its top executives next week to address the underperformance of its Pimco fund management unit in the hope that the German insurer will look more closely at management problems there.
U.S. prosecutors to drop two of seven charges against Rajaratnam’s brother
NEW YORK (Reuters) – U.S. prosecutors plan to drop two securities fraud charges against former Galleon Group hedge fund portfolio manager Rengan Rajaratnam, the younger brother of Raj Rajaratnam, who founded the firm and was convicted of insider tradin…
BP to cut 30 percent of IT staff in upstream business: source
LONDON (Reuters) – British oil and gas explorer BP will cut around 30 percent of IT jobs in its international upstream division following a review of its support services, a source familiar with the situation said.
Pershing Square gets permission to turn Allergan options into shares
BOSTON (Reuters) – Hedge fund manager William Ackman’s $13.6 billion Pershing Square Capital Management has received permission from the U.S. Federal Trade Commission to turn Allergan Inc options into shares, a source familiar with the matter said on F…
New Fiat Chrysler plan to put Marchionne to the test
MILAN (Reuters) – Newly-merged Fiat Chrysler will unveil its long-awaited five-year plan on Tuesday, with chief executive Sergio Marchionne under pressure to show he can translate years of canny dealmaking into a thriving global autos business.
U.S. factory orders up, durable goods revised higher
WASHINGTON (Reuters) – New orders for U.S. factory goods rose for a second straight month in March, suggesting strength in manufacturing and the broader economy at the end of the first quarter.
Fed seen hiking rates in June 2015 as U.S. job creation surges
(Reuters) – The Federal Reserve could start raising benchmark interest rates in just over a year, based on trading in U.S. short-term interest-rate futures after a government report showed employers added many more jobs than expected in April.
Chevron’s profit drops on lower production, crude prices
(Reuters) – Chevron Corp, the second-largest U.S. oil producer, posted a lower-than-expected quarterly profit on Friday on lower global production and crude oil prices.
