Exelon to become top U.S. power distributor with Pepco buy
(Reuters) – Exelon Corp said it would buy Pepco Holdings Inc for $6.83 billion, helping it overtake Duke Energy Corp as the biggest power distribution company in the United States.
Facebook lets users limit data shared with apps
SAN FRANCISCO (Reuters) – Facebook introduced new features on Wednesday that let users limit how much personal information they share with third-party mobile apps, a move meant to quell privacy concerns as the social network seeks to become a top entry…
Exclusive: Merck explores $15 billion-plus drug portfolio sale
NEW YORK/LONDON (Reuters) – Merck & Co Inc is considering selling a big portfolio of mature drugs that could fetch more than $15 billion, according to people familiar with the matter, as the U.S. drugmaker continues to streamline businesses to focus on high-growth areas.
UK lawmakers plan to probe Pfizer pursuit of AstraZeneca
LONDON (Reuters) – British lawmakers intend to investigate U.S. drugmaker Pfizer’s planned $100 billion takeover of British rival AstraZeneca in a bid to ensure scientific research and jobs are protected.
U.S. government says it lost $11.2 billion on GM bailout
WASHINGTON (Reuters) – The U.S. government lost $11.2 billion on its bailout of General Motors Co , more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report release…
Wyly calls ex-lawyer’s SEC settlement ‘deal with the devil’
NEW YORK (Reuters) – Texas tycoon Samuel Wyly said Wednesday his former lawyer cut a “deal with the devil” in agreeing to testify against him in the U.S. Securities and Exchange Commission’s fraud trial accusing him of concealing stock trades in offsho…
Dow ends at record high as Fed upbeat on economy
NEW YORK (Reuters) – The Dow closed at its first record high of 2014 on Wednesday after the Federal Reserve gave an upbeat view of the economy’s prospects as it announced another cut to its massive bond-buying program.
Fed shows faith in U.S. economy with bond-buying reduction
WASHINGTON (Reuters) – The Federal Reserve on Wednesday looked past a dismal reading on first quarter U.S. growth and gave a mostly upbeat assessment of the economy’s prospects as it announced another cut in its massive bond-buying stimulus.
CEO Barra leans on small circle of GM veterans
DETROIT (Reuters) – In the midst of General Motors Co’s biggest crisis since bankruptcy, new Chief Executive Mary Barra is turning to an inner circle dominated by company “lifers,” believing the team is up to handling a massive recall and reinvigoratin…
Exclusive: Curbing tax-driven business moves abroad a priority – U.S. Treasury
(Reuters) – The Obama administration is seeking ways to curb tax-dodging by U.S. businesses that reincorporate overseas, a U.S. Treasury official told Reuters on Wednesday, highlighting growing concern about deals known as “inversions.”
