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Tuesday, March 14, 2017

Ackman's Pershing Square sells Valeant stake, takes $3 billion loss

BOSTON (Reuters) - Billionaire investor William Ackman walked away from Valeant Pharmaceuticals International Inc on Monday with a loss of more than $3 billion as he sold his entire stake in the struggling drug company after trying to rescue it for some 18 months.

Futures dip before Fed policy meeting kicks off

(Reuters) - U.S. stock index futures were marginally lower on Tuesday ahead of the Federal Reserve's closely watched two-day meeting, where it is widely expected to raise interest rates.

Fed to hold rate policy meeting as planned despite weather

WASHINGTON (Reuters) - The U.S. Federal Reserve will hold an interest rate policy meeting as planned on Tuesday and Wednesday, the central bank said in a statement that might dispel any doubts over whether policymakers would brave a snowstorm hitting Washington on Tuesday morning.

Boeing, aerospace manufacturers back U.S. tax overhaul

SEATTLE (Reuters) - Boeing Co and about 90 other aerospace companies are urging Congress to overhaul the U.S. tax system, saying a set of changes Republicans proposed last year - including a big cut in the corporate tax rate - will make them more competitive globally and help create U.S. jobs.

Fed, in shift, may move to faster pace of rate hikes

SAN FRANCISCO/WASHINGTON (Reuters) - The Federal Reserve, which has struggled to stoke inflation since the financial crisis and up until now raised rates less frequently than it and markets expected, may be about to hit the accelerator on rate hikes.

Toshiba pushes sale of nuclear unit Westinghouse as crisis deepens

TOKYO (Reuters) - Toshiba Corp is 'actively considering' a sale and other strategic options for U.S. nuclear unit Westinghouse, the group said on Tuesday, as it expanded a probe into problems there that caused it to miss an earnings deadline for a second time.

VW CEO says not ruling out merger talks with Fiat Chrysler boss

WOLFSBURG, Germany (Reuters) - Volkswagen Chief Executive Matthias Mueller said he is not ruling out talks with Fiat Chrysler boss Sergio Marchionne about a possible merger.

Exclusive: Deutsche Bank replaces U.S. head Woodley with equities manager - sources

NEW YORK/FRANKFURT (Reuters) - Deutsche Bank is replacing its U.S. chief Bill Woodley with the global head of its stock-trading business, Thomas Patrick, people close to the matter said.

South Australia taps new gas plant, batteries to fix power crisis

SYDNEY (Reuters) - South Australia, the country's most renewable-energy dependent state, outlined plans on Tuesday to spend A$510 million ($385 million) to keep the lights on, just four days after Tesla Inc boss Elon Musk offered to save the state from blackouts by installing large-scale battery storage.

Swiss watch demand improving thanks to China: LVMH watch head Biver

BRUNNEN, Switzerland (Reuters) - Demand for Swiss watches has improved, driven by a rebound in Chinese purchases, the head of luxury group LVMH's watch business said on Tuesday.