Check out the companies making headlines midday Friday: Celgene — Shares of Celgene rose 6.58 percent after proxy advisors Institutional Shareholder Services and Glass Lewis recommended that Bristol-Myers Squibb shareholders vote in favor of its bid to buy Celgene. The recommendations come weeks before shareholders vote on the $74 billion […]
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Activist Starboard drops out of Celgene fight as proxy firms back Bristol-Myers bid
Activist investor Starboard Value has ended its fight against Bristol-Myers Squibb’s buyout of peer biotechnology company Celgene after two prominent proxy advisors announced their support for the deal earlier on Friday. The withdrawal comes hours after both Institutional Shareholder Services and Glass Lewis recommended Bristol-Myers shareholders vote in favor of […]
Fed’s Quarles says more rate hikes could be ahead ‘at some point’ as economy improves
Federal Reserve Governor Randal Quarles voiced confidence in the U.S. economy in a speech Friday and said more interest rate hikes likely will be appropriate, countering the prevailing market wisdom. Speaking to economists in New York, Quarles, who serves as the central bank’s vice chair for supervision, said the labor […]
Lyft pops in trading debut, settles to modest gains
Lyft‘s stock popped as much as 23 percent in its debut on the public market Friday. Shares opened at $87.24 a piece and ultimately settled to modest gains. The initial public offering marks the first debut from a heavyweight class of tech companies going public in 2019. Lyft said Thursday […]
Trump threatens to close ‘large sections’ of US-Mexico border next week over illegal immigration
President Donald Trump threatened to close large parts of the U.S.-Mexico border next week if America’s southern neighbor does not “immediately” stop illegal immigration. In a series of tweets Friday, the president wrote that he would shut down “the Border, or large sections of the Border,” if Mexico does not […]
US workers take an average 2 sick days a year to nurse hangovers—here’s what that costs the economy
Pounding headache, nausea, dizziness, and the desire to immediately down a whole gallon of water? Yep, you’re hungover, and if you’re feeling that way before you need to clock into work, odds are you’re calling out. Every year workers take, on average, two sick days to nurse their hangovers from […]
The Farm Belt faces an expensive cleanup after already-costly record flooding
Record flooding in the Midwest and Great Plains caused at least $3 billion in damage to the region and more than one third of the tally is from agriculture, according to officials. The states affected by the rapid snow melt and flooding include Nebraska, Iowa, Minnesota, South Dakota and Wisconsin. […]
Here’s who could replace Tim Sloan as CEO of Wells Fargo
Tim Sloan is out at Wells Fargo, setting off a rare event when it comes to big American banks: An external search for a CEO. The journey begins Friday, according to the bank’s chair, Betsy Duke. His replacement will have to regain the credibility lost after the lender’s fake accounts […]
This Ohio town wants to help you pay off your student debt
Want a way out of your student debt? Try moving to Newburgh Heights, Ohio. The 2,000-resident town, less than 10 miles from Cleveland, is offering to help college graduates pay off their student debt. The rules are simple: Be a graduate with student debt from a four-year accredited college or […]
Trump’s NAFTA face-lift hits bipartisan roadblock in Congress
President Donald Trump has a signature achievement within his grasp. All he needs to do is weave through a skeptical Congress — a task that has proven difficult for his administration in the past. The president reached an agreement with Mexico and Canada last year to replace the 1994 North […]