Swiss specialty chemicals maker Clariant and Huntsman have agreed to abandon their proposed $20 billion merger, bowing to a growing number of shareholders who had joined activist investor White Tale to oppose the deal. Continue Reading Below “Given the continued accumulation of Clariant shares by activist investor White Tale Holdings […]
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Insured losses from deadly California wildfires could hit $3 billion
Insured property losses from wildfires that raged through Northern California wine country this month, killing at least 42 people and destroying thousands of businesses and homes, could total $2 billion to $3 billion, a risk-modeling firm said on Thursday. Continue Reading Below The analysis by Boston-based AOR Worldwide, encompassing anticipated […]
Oil markets tighten, Brent approaches $60 per barrel
Oil prices inched higher on Friday, with Brent crude approaching $60 a barrel amid tightening market expectations, buoyed by comments from Saudi Arabia’s Crown Prince backing the extension of OPEC-led output cuts. Continue Reading Below International benchmark Brent crude futures were up 10 cents, or 0.17 percent, at $59.40 a […]
CSX executive shakeup rattles employees, investors; shares drop
The resignation of two prominent female executives at CSX Corp (CSX) hours before CSX canceled a long-planned investor conference this week rattled employees and investors on Thursday, sending the No. 3 U.S. railroad’s shares down 1 percent. Continue Reading Below The resignations prompted concerns over the health of 72-year-old Chief […]
GE explores divesting its transportation, health care IT businesses: Report
General Electric Co (GE) is exploring divesting its transportation and health care information technology businesses, as it seeks to reshape its portfolio under new Chief Executive John Flannery, people familiar with the matter said. Continue Reading Below Such a move would help GE to meet more than half of its […]
US pending home sales flat in September
WASHINGTON, Oct 26 (Reuters) – Contracts to buy previously owned homes were flat in September and activity declined on an annual basis for the fifth time in the last six months as demand for properties continued to exceed supply. Continue Reading Below The National Association of Realtors said on Thursday […]
Southwest profit beats on higher traffic
Oct 26 (Reuters) – Southwest Airlines Co on Thursday reported a third-quarter profit that edged past estimates, benefiting from a rise in passenger traffic and revenue. Continue Reading Below The Dallas-based carrier said it expects fourth-quarter unit revenue, which compares ticket sales with flight capacity, to be in the range […]
Xerox profit, sales top estimates on cost cuts
Oct 26 (Reuters) – Printer and copier maker Xerox Corp reported higher-than-expected quarterly profit and revenue on Thursday, boosted by new product rollouts and cost cuts. Continue Reading Below The company’s shares were up 1.5 percent in light premarket trading. Xerox’s total costs declined 5.4 percent to $2.3 billion in […]
CME profit plunges 34.7% on higher expenses
Oct 26 (Reuters) – CME Group Inc, the world’s largest futures market operator, reported a 34.7 percent fall in quarterly profit, hurt by higher expenses. Continue Reading Below The Illinois-based company’s net income fell to $308.6 million, or $0.91 per share, in the third quarter ended Sept. 30, from $472.8 […]
Pfizer to launch consumer health sale in November -sources
Pfizer plans to kick off an auction process for its consumer healthcare business in November, paving the way for a potential $15 billion-plus sale of the headache pill to lip balm business, sources close to the matter told Reuters. Continue Reading Below Several global companies, including GlaxoSmithKline and Reckitt Benckiser, […]