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 Yahoo, hedge fund strike deal
Sun-Sentinel (Fort Lauderdale), April 28, 2016 Thursday

 Yahoo, hedge fund strike deal Yahoo on Wednesday announced a deal that should end a tussle with a New York hedge fund that had threatened to unseat its entire board. Starboard Value has been a vocal critic of the tech giant, which has struggled to profit from its massive online audience. Last month, Starboard called for Yahoo's entire board of directors - including Marissa Mayer, Yahoo's CEO - to be replaced. The hedge fund submitted a slate of handpicked board members to stand for election...
 UPS; UPS sees profit up, liability looming
The Atlanta Journal-Constitution, April 29, 2016 Friday

 UPS said profit jumped 10.2 percent in the first quarter, but also warned it may face a big pension liability in the future.
 Amazon's earnings send stock to clouds; Shares rocket up more than 12% in after-hours trading
USA TODAY, April 29, 2016 Friday

 Amazon swung to a surprisingly strong profit in the first three months of the year, boosted by its fast-growing cloud business and strong North American e-commerce sales. Shares soared in after-hours trading Thursday, rallying 12.5% to $678.
 Abbott Labs agrees to buy St. Jude Medical for $25B; Deal would create a medical devices giant
USA TODAY, April 29, 2016 Friday

 Health care giant Abbott Laboratories has reached a deal to acquire medical device maker St.Jude Medical in a cash-and-stock deal valued at $25 billion. The companies revealed Thursday that they had agreed to a tie-up that would create a global medical devices giant with specialties such as cardiovascular, diabetes and vision.
 Company Behind 'American Idol' Files for Bankruptcy Protection
The New York Times, April 29, 2016 Friday

 Core Media Group, the company behind the television shows ''American Idol'' and ''So You Think You Can Dance,'' filed for bankruptcy protection on Thursday.
 R.B.S. May Miss Deadline to Spin Off Williams & Glyn
The New York Times, April 29, 2016 Friday

 The Royal Bank of Scotland said on Thursday that there was ''significant risk'' that it might not meet a deadline set by European regulators to spin off its Williams & Glyn branch network by the end of next year.
 Sanofi Offers to Buy Drug Maker Medivation for $9.3 Billion
The New York Times, April 29, 2016 Friday

 The French drug company Sanofi said on Thursday that it had made a nonbinding offer to acquire the prostate cancer drug maker Medivation for about $9.3 billion in cash. Sanofi, based in Paris, publicly announced the offer on Thursday after it said that Medivation, a San Francisco biotechnology company, had not responded to a letter Sanofi sent nearly two weeks ago offering to acquire the company. Sanofi, which has been suffering from declines in sales of its main diabetes drugs, has said it is...
 Profit Falls 58% at an Overhauling Deutsche Bank
The New York Times, April 29, 2016 Friday

 LONDON -- Deutsche Bank said on Thursday that its profit fell 58 percent in the first quarter compared with a year earlier, because of challenging conditions in the financial markets at the beginning of the year and its decision to exit some businesses.
 Apple's Slumping Shares Lead Market Lower
The New York Times, April 29, 2016 Friday

 United States stocks took their biggest loss in three weeks on Thursday after a late sell-off. Apple, which is in a slump, fell to its lowest price in about two months and dragged the tech sector sharply lower.   Tech stocks, which rose early on earnings gains from Facebook and PayPal, slumped after Carl C. Icahn, the billionaire investor, disclosed that he had sold his stake in Apple. Mr. Icahn was not a major shareholder in the tech giant, but his moves are closely watched by many investors.
 TUI Group to Sell Hotelbeds Group for $1.3 Billion
The New York Times, April 29, 2016 Friday

 LONDON -- The European tourism company TUI Group said on Thursday that it had agreed to sell Hotelbeds Group to the private equity firm Cinven and the Canada Pension Plan Investment Board for 1.19 billion euros, or about $1.3 billion.
 Lloyds Banking Group Profit Down 44% After Bond Redemption
The New York Times, April 29, 2016 Friday

 LONDON -- The British lender Lloyds Banking Group said on Thursday that its first-quarter profit declined 44 percent from a year earlier, as the redemption of bonds it issued during the financial crisis and other charges cut into its results.
 Barclays to Sell Credit Card Business in Portugal and Spain
The New York Times, April 29, 2016 Friday

 LONDON -- The British bank Barclays said on Thursday that it had agreed to sell its Barclaycard credit card business in Portugal and Spain to the Spanish online bank Bancopopular-e.
 AbbVie to Buy Cancer Treatment Start-Up
The New York Times, April 29, 2016 Friday

 SAN FRANCISCO -- In Silicon Valley, being a unicorn is no guarantee of financial success. But an eight-year-old drug maker focused on novel cancer treatments has landed itself and its investors a windfall by selling itself to a bigger competitor. AbbVie said on Thursday that it would buy Stemcentrx for $5.8 billion in cash and stock. That's up about 16 percent from the $5 billion valuation that the start-up fetched during its last fund-raising round. It also appears to be one of the highest...
 COMPANY TOWN; The new chief at DreamWorks
Los Angeles Times, April 29, 2016 Friday

 In Hollywood's animation business, all eyes are now on one man: Chris Meledandri. Meledandri, 56, was already riding high as head of Illumination Entertainment, the main supplier of animated family movies such as "Minions" and "Despicable Me" to Universal Pictures. Now, with NBCUniversal buying DreamWorks Animation, he will also have creative oversight over that Glendale studio. Jeff Shell, chairman of Universal Filmed Entertainment, called Meledandri "one of the most important and valuable...
 BUSINESS BEAT; Icahn sells all of his Apple stock; Citing concerns over China, the billionaire investor dumps his nearly 1% stake in the tech giant.
Los Angeles Times, April 29, 2016 Friday

 Billionaire business magnate Carl Icahn, whose investment decisions can influence the stock market, said Thursday that he dumped what was left of his nearly 1% stake in Apple Inc. on fears that Chinese authorities would bully the iPhone maker.
 Yahoo cedes 4 board positions; Starboard agreement heads off proxy fight; Yahoo settles with Starboard, avoiding messy proxy fight
The San Francisco Chronicle (California), April 28, 2016 Thursday

 Potentially speeding the sale of one of Silicon Valley's best-known companies, Yahoo announced Wednesday that it has reached a settlement with activist investor Starboard Value to give the New York hedge fund four seats on the board. The move, which will initially expand Yahoo's board to 13 members, avoids a high-stakes proxy fight between the struggling Internet search pioneer and Starboard, its most vocal critic.
 DreamWorks makes sense for Comcast, but will Katzenberg cede control?
The Philadelphia Inquirer, April 28, 2016 Thursday

  Comcast Corp. could leverage such popular characters as Shrek and Kung Fu Panda's Po for theme parks and boost the cable giant's animated-movie business if it closes on a $3 billion deal for the Hollywood studio DreamWorks Animation SKG Inc., analysts said Wednesday.  Comcast's Universal would likely combine DreamWorks' studio with an animation unit at Universal Studios that made such blockbusters as Despicable Me and Minions.
 Mitsubishi: Fuel data tampering dates to '91
The Baltimore Sun, April 27, 2016 Wednesday

 Mitsubishi: Fuel data tampering dates to '91 TOKYO - Mitsubishi Motors, the Japanese automaker that acknowledged last week that it had intentionally lied about fuel economy data for some of its models, said an internal investigation found such tampering dated to 1991.
 T. Rowe Price's profits dip 5 percent
The Baltimore Sun, April 27, 2016 Wednesday

 T. Rowe Price's profits dip 5 percent Baltimore-based money manager reports declines for third straight quarter By Natalie Sherman The Baltimore Sun Profits at T. Rowe Price Group fell 5 percent in the first three months of 2016 amid a turbulent period in the stock market, the firm said Tuesday. It was the third consecutive quarter that the Baltimore-based money manager reported declines, which it has attributed to broader volatility, including an upheaval in oil prices.
 COCA-COLA; Coke to focus on brand, move away from bottling
The Atlanta Journal-Constitution, April 28, 2016 Thursday

 Six years ago, Coca-Cola went into the bottling business when it bought the North American operations of Coca-Cola Enterprises. At Wednesday's annual shareholder meeting, Coke CEO Muhtar Kent and company President James Quincey said that era is nearing its close.
 As Valeant Tumbles, So Does Billionaire's Hedge Fund Herd
The New York Times, April 28, 2016 Thursday

 The billionaire investor William A. Ackman has become the unofficial leader of a thundering herd that has lost billions of dollars betting on Valeant Pharmaceuticals over the past year. The 49-year-old founder of Pershing Square Capital Management, the $12.5 billion hedge fund, found himself going to bat again for Valeant on Wednesday when he testified before Congress about Valeant's controversial drug pricing policies, which have included inflating the prices of vital heart medicines right...
 Banco Santander Profit Falls Amid Turbulent Currency Markets
The New York Times, April 28, 2016 Thursday

 LONDON -- Banco Santander of Spain said on Wednesday that its profit declined 5 percent in the first quarter as fluctuations in the British pound and other currencies, as well as a deterioration in lending and fee income, weighed on its results.
 Barclays Profit Falls 7%, but Progress Is Reported
The New York Times, April 28, 2016 Thursday

 LONDON -- Barclays continues to pare back its operations as it accelerates a strategy shift announced last year, while first- profit took a hit from the industry-wide slowdown in investment banking and markets. James E. Staley, who joined Barclays as chief executive in December, is seeking to turn around the bank by accelerating the sale of businesses it does not consider core operations and by focusing its strategy around two divisions: the British consumer bank, and the corporate and...
 Ford and Google Join Driverless-Cars Group
The New York Times, April 28, 2016 Thursday

 DETROIT -- In an unusual alliance between a traditional automaker and a technology company, Ford Motor and Google on Wednesday joined to lead a coalition of companies that advocate federal approval of driverless cars in the near future. By teaming up to promote regulations that favor fully-autonomous vehicles, Ford and Google may be moving toward closer cooperation on the actual development of driverless models.   Ford's chief executive, Mark Fields, has said in recent months that his company...
 Publix CEO, retiring after 42 years, surprises Fort Lauderdale employees
The Miami Herald, April 27, 2016 Wednesday

 Wednesday was Ed Crenshaw's last day on the job as CEO of the largest employee-owned grocery chain in the United States. And everyone wanted a picture with him. Dozens of Publix employees cheered and applauded Crenshaw as he walked up to greet them at Calvary Chapel in Fort Lauderdale, where about 150 employees volunteered to unload trucks filled with canned tuna, peanut butter and other non-perishables destined for 16 food banks and pantries across Broward County. Click on this link to read...

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