Business

Business

Takeda adds more cash in boosting Shire bid over $60 billion

(c) 2018, Bloomberg. Takeda Pharmaceutical sweetened its offer for drugmaker Shire to more than $60 billion after three prior bids were rejected, wooing investors in the U.S. company with a higher cash component. The Japanese company boosted its offer to 47 pounds ($65.84) a share from 46.50 pounds...


Business

Who's to blame for costly oil: Saudis, Russia and Trump himself

(c) 2018, Bloomberg. Rising oil prices are now the latest target in President Donald Trump’s cross-hairs. The nation’s tweeter-in-chief complained Friday about OPEC fueling an “artificially Very High” cost for crude that he said “will not be accepted!” So what’s behind the jump in prices? Market...


Business

Trump trade policies are puncturing America's economic optimism

(c) 2018, Bloomberg. President Donald Trump’s trade policies are taking some air out of the high-flying economic optimism that had prevailed among American companies and consumers since his 2016 election. Confidence gauges spanning small businesses, factories and the public at large are coming off...


Business

Honeywell CEO proves Loeb wrong as aerospace boosts profits

(c) 2018, Bloomberg. Honeywell International’s confidence in its aerospace business was bolstered by expanding sales of in-flight internet and cockpit controls that drove first-quarter earnings higher than analysts’ expected. The company raised its 2018 profit target. A drag on earnings as recently...


Business

Wells Fargo's $1 billion pact gives U.S. power to fire managers

(c) 2018, Bloomberg. Wells Fargo & Co.‘s $1 billion fine won’t close the book on fallout from its consumer scandals. The nation’s third-largest bank submitted to an unprecedented order Friday that would give the Office of the Comptroller of the Currency the right to remove some of the lender’s...


Business

Takeda adds more cash in boosting Shire bid over $60 billion

(c) 2018, Bloomberg. Takeda Pharmaceutical sweetened its offer for drugmaker Shire to more than $60 billion after three prior bids were rejected, wooing investors in the U.S. company with a higher cash component. The Japanese company boosted its offer to 47 pounds ($65.84) a share from 46.50 pounds...


Business

Philip Morris' next challenge: Get grandpa stoked to vape

(c) 2018, Bloomberg. After its stock fell the most in a decade on Thursday, Philip Morris International’s challenge is to convince baby boomers to switch from cigarette smoking to a distinctly millennial activity - fiddling with high-tech, smokeless gadgets. The tobacco giant spent $4.5 billion...


Business

Judges skeptical of FCC in case related to Sinclair's deal

(c) 2018, Bloomberg. The Federal Communications Commission faced skeptical questioning from judges about a rule change that made way for Sinclair Broadcast Group’s proposed acquisition of Tribune Media Co., raising the possibility of turmoil for the $3.9 billion deal. Judges at the U.S. Court of...


Business

U.S.-China trade impasse shows no signs of easing as G-20 meets

(c) 2018, Bloomberg. Global finance chiefs hoping to diffuse trade tensions aren’t making much headway at meetings in Washington so far, even as they pressure the U.S. and China to refrain from any sudden unilateral actions. There was little progress on trade at a smaller meeting of G-7 finance...


Business

Deutsche Bank's bad news gets worse with $35 billion flub

(c) 2018, Bloomberg. The bad news at Deutsche Bank just got worse. Amid a weeks-long leadership tussle that claimed the scalps of the chief executive, two of his top lieutenants and tainted its chairman, the bank inadvertently transferred 28 billion euros ($35 billion) to one of its outside...


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