Ackman’s fund roars back in October, now up 8.5 percent for year
BOSTON (Reuters) – Hedge fund manager William Ackman’s fund came roaring back in October and is now up 8.5 percent for the year, helping erase the memories of bruising losses only a few months ago.
G4S and Serco woes deepen with British fraud investigation
LONDON (Reuters) – Britain’s Serious Fraud Office (SFO) has opened a criminal investigation into G4S and Serco’s electronic monitoring contracts, increasing pressure on the embattled contractors.
U.S. business spending plans slumped sharply as debt fight heated up
WASHINGTON (Reuters) – Orders for a wide range of U.S.-made capital goods sank more than previously estimated in September, a sign companies cut their investment plans sharply as Washington hurtled to the brink of default.
U.S. justices decline to review Facebook ‘Beacon’ settlement
WASHINGTON (Reuters) – The U.S. Supreme Court on Monday let stand Facebook Inc’s $9.5 million class action settlement over allegations the social networking company’s defunct “Beacon” service violated its members’ privacy rights.
Review of Zurich finance chief’s suicide clears Ackermann
ZURICH (Reuters) – Zurich Insurance finance chief Pierre Wauthier did not come under “undue pressure” before his suicide, the firm said on Monday, citing results of an investigation into his death that it hopes will wrap up the scandal before earnings …
Tesco to scan UK shoppers for targeted advertising
LONDON (Reuters) – Tesco , the world’s third largest retailer, is to install hi-tech screens at its petrol forecourt stores in Britain that scan queuing shoppers so the firm can tailor advertising to them.
Carlyle Group names Kewsong Lee deputy chief investment officer
(Reuters) – Private equity firm Carlyle Group LP said on Monday it has named Kewsong Lee as its deputy chief investment officer for corporate private equity.
Alcatel-Lucent seeks to raise $2 billion for recovery drive
PARIS (Reuters) – Loss-making telecom equipment maker Alcatel-Lucent plans to raise 955 million euros ($1.3 billion) from shareholders and $750 million from a high-yield bond to cut debt and drive what its boss has called a last-ditch effort to save th…
Boeing seen in advanced talks to make 777X near Seattle
(Reuters) – Boeing is in advanced talks with a leading union to assemble its new 777X jet and build its wings in the Seattle area, a source familiar with the negotiations told Reuters.
UK’s Co-operative details bank rescue plan
LONDON (Reuters) – Britain’s Co-operative Group has detailed a rescue plan for its banking arm, under which it will hand control of the unit to investors including U.S. hedge funds as part of a 1.5 billion pound ($2.4 billion) bail-in.
