Electric vs hydrogen: China is battleground for auto giants
GUANGZHOU/BEIJING (Reuters) – German auto giants Volkswagen AG, BMW and Daimler see China’s future as being electric – encouraged by generous government subsidies – but that bet puts them at odds with some of their Asian rivals.
Ackman to renew attack on Herbalife at Robin Hood conference
BOSTON (Reuters) – Activist investor William Ackman will renew his attack on Herbalife at a conference on Friday, almost a year since he shocked Wall Street with a $1 billion short bet against the weight-loss company, a person familiar with his plan sa…
Charter Comm nears funding deal for Time Warner Cable bid: WSJ
(Reuters) – Charter Communications Inc is nearing an agreement with banks to raise funds for a bid for Time Warner Cable Inc, the Wall Street Journal reported, citing people familiar with the situation.
Settlement talks between Madoff trustee, investor collapse: WSJ
(Reuters) – A planned $800 million settlement between Kingate Management, one of the largest investors in Bernard Madoff’s fraud, and a court-appointed trustee recouping money for the swindler’s victims has broken down, The Wall Street Journal said on …
U.S. plans to exit GM stake by year-end, may lose $10 billion
DETROIT (Reuters) – The U.S. government said on Thursday it expected to sell its remaining shares of General Motors Co by the end of the year, a plan that may leave taxpayers saddled with a total shortfall of about $10 billion on the automaker’s 2009 b…
SAC chief operating officer to leave as hedge fund transforms
NEW YORK (Reuters) – A top lieutenant at Steven A. Cohen’s SAC Capital Advisors will leave the hedge fund in the new year as the once $15 billion firm converts to a family office, according to a memo sent to employees and seen by Reuters.
Judge leaves OGX foreign units out of bankruptcy protection
RIO DE JANEIRO (Reuters) – A Brazilian judge on Thursday accepted a request for bankruptcy protection from former billionaire Eike Batista’s oil company, OGX , but denied the same protection for two small foreign subsidiaries in a potential setback for…
Approval of $8.5 billion BofA settlement in judge’s hands
NEW YORK (Reuters) – A decision on whether to approve Bank of America Corp’s proposed $8.5 billion settlement with investors in mortgage securities is now in the hands of a New York state judge, after a nine-week court proceeding ended on Thursday.
Dow ends above 16,000 for first time, boosted by data
NEW YORK (Reuters) – The Dow industrials closed above 16,000 for the first time on Thursday as stocks rebounded from three days of weakness, after economic data pointed to a slowly improving labor market and subdued inflation.
SAC chief operating officer to leave hedge fund as firm transforms
NEW YORK (Reuters) – A top lieutenant at Steven A. Cohen’s SAC Capital Advisors will leave the hedge fund in the new year as the once $15 billion firm converts to a family office, according to a memo sent to employees and seen by Reuters.
