The U.S. unit of carmaker Fiat Chrysler Automobiles (FCA)(FCHA.MI) (FCAU.N) has redeemed senior secured notes that mature in 2019 with a total face value of $2.875 billion, a filing with U.S. market regulator SEC showed. Fiat completed the buyout of its U.S. unit last year but needs to refinance all of Chrysler’s bonds and past credit agreements before it can gain full access to the unit’s cash. After this payment,
U.S. shares ended little changed on Friday, with the S&P 500 edging up to a record high for a second straight session after a ream of weak economic data. The S&P 500 gained 1.63 points, or 0.08 percent, …
The changes were disclosed in a regulatory filing detailing Berkshire’s U.S.-listed stock portfolio as of March 31. Berkshire also boosted its share stake in U.S. Bancorp, another large holding, while other portfolio managers adjusted their stakes in several companies. Berkshire bought $1.62 billion and sold $1.11 billion of equities overall.
The Federal Bureau of Investigation is probing the suspicious buyout bid for cosmetics company Avon Products Inc by purported acquirer PTG Capital Partners, an agency official said on Friday. The news …
China and the United States must work together to speed up progress on a bilateral investment treaty, China’s Foreign Minister Wang Yi said on Saturday. Wang, speaking at a joint news conference with U.S. …
A group of luxury goods makers sued Alibaba Group Holding Ltd (BABA.N) on Friday, contending the Chinese online shopping giant had knowingly made it possible for counterfeiters to sell their products throughout the world. The lawsuit was filed in Manhattan federal court by Gucci, Yves Saint Laurent and other brands owned by Paris-based Kering SA (PRTP.PA) seeking damages and an injunction for alleged violations of trademark and racketeering laws. The
Apparel retailer American Apparel Inc sued its ousted chief executive Dov Charney for violating his standstill agreement with the company. The company said on Friday it has filed a suit with the Delaware …
Jana, run by Barry Rosenstein and known as a practitioner of activist investing, took a new 125,000 share stake in McDonald’s after having sold a small position in the fourth quarter. Keith Meister’s Corvex Management LP also took a new position in the company, buying 205,000 shares. Larry Robbins’ Glenview Capital Management added a new position in McDonald’s, buying 2.9 million shares during the first quarter.
A U.S. judge on Friday ordered Nomura Holdings Inc and Royal Bank of Scotland Group Plc (RBS.L) to pay a collective $806 million for making false statements in selling mortgage-backed securities to Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB). U.S. District Judge Denise Cote in Manhattan entered the judgment after finding the banks liable on Monday following a non-jury bench trial in a lawsuit by the Federal Housing Finance Agency
Top U.S. hedge fund management firms, including Leon Cooperman’s Omega Advisors and Philippe Laffont’s Coatue Management, continued to reduce or slash stakes altogether in Apple Inc (AAPL.O) during the first quarter, as shares of the iPhone maker rallied. According to regulatory filings released on Friday, Coatue cut its holding of Apple by selling 1.2 million shares during the first three months of this year, but it remains the fund’s single
