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Lehman Brothers Estate Shopping 20% Stake in D.E. Shaw

Wall Street Journal Online - Wed, 12/04/2013 - 2:03pm
Lehman Brothers' estate is shopping its 20% stake in New York hedge-fund D.E. Shaw Group, sources say, with bids expected in December.
Categories: Financial News

Dish to Bid in Spectrum Auction

Wall Street Journal Online - Wed, 12/04/2013 - 2:02pm
Dish will bid for spectrum in an auction scheduled for next month and won't face competition from the nation's top cellphone carriers, according to an FCC list.
Categories: Financial News

TIME Exclusive: Icahn Files Apple Shareholder Proposal

Time Magazine Latest Money News - Wed, 12/04/2013 - 1:58pm
Subscribe to TIME here. Veteran investor Carl Icahn is opening a new front in his quest to persuade Apple to part with more of its massive cash stockpile. Icahn believes the technology giant should share more of its wealth with stockholders. So to push Apple, he now wants stockholders to vote on whether the company should spend more of its billions to buy back its own shares on the public market. A buyback would almost certainly drive up the price of Apple’s stock—and increase the value of Icahn’s holdings along with those of all Apple investors. Icahn tells TIME he filed a shareholder proposal with Apple on Nov. 26, three days before the deadline for measures to be voted on at the company’s next annual shareholders meeting. His measure calls for a share buyback and is in the form of a precatory proposal, which means that even if a majority of Apple shareholders approved, it would not be binding on the company’s management. That’s the typical approach for shareholder resolutions, even those coming from investors who are at odds with management. For his part, Icahn says he doesn’t consider his proposal an indictment of Apple CEO Tim Cook, or the company’s management, per se. “Tim Cook is doing a good job with the business,” Icahn tells TIME. “I think he’s good whether he does what I want or not.” But, says Icahn, referring to the company’s huge cash stockpile, “Apple is not a bank.” Photograph by Platon for TIME Icahn has the option of withdrawing his proposal if he and Apple can come to terms. If not, the situation could turn into a proxy fight against Apple, even if it is not a particularly hostile or aggressive one. The two sides would vie to persuade stockholders to vote their way. (The term proxy fight refers to the fact that shares from stockholders who cannot attend the annual meeting in person can be voted by proxy. In practice, waging a proxy fight means persuading big institutional investors to support a measure.) Apple
Categories: Financial News

Turquoise Hill Founder to Participate in Rights Issue

Wall Street Journal Online - Wed, 12/04/2013 - 1:41pm
Robert Friedland will participate in the $2.4 billion rights issue of Turquoise Hill, the mining company that discovered the Mongolian Oyu Tolgoi copper and gold deposit.
Categories: Financial News

VIDEO: Landslide rips apart Italy roads

BBC News World - Wed, 12/04/2013 - 1:40pm
Heavy rains and floods cause a powerful landslide in the southern Italian town of Montescaglioso.
Categories: World News

Economy Growing at 'Modest to Moderate' Pace

Wall Street Journal Online - Wed, 12/04/2013 - 1:40pm
The U.S. economy expanded at a "modest to moderate" pace in recent months, with strength coming from the manufacturing sector and consumer spending, according to the Federal Reserve's survey of regional economic conditions.
Categories: Financial News

Crash and fire killed Hollywood star

BBC News World - Wed, 12/04/2013 - 1:38pm
Hollywood star Paul Walker was killed by impact and a fire in a car crash in California on Saturday, a post-mortem examination finds.
Categories: World News

Ex-New Zealand players investigated

BBC News World - Wed, 12/04/2013 - 1:16pm
New Zealand Cricket confirms a "small number" of its former players are being investigated after allegations of fixing.
Categories: World News

Russian MPs in 'golden gun' fight

BBC News World - Wed, 12/04/2013 - 12:49pm
The dramatic fistfight inside Russia's parliament
Categories: World News

Homeless man sentenced over Rio riot

BBC News World - Wed, 12/04/2013 - 12:37pm
A 26-year-old homeless man is sentenced to five years in jail for his role in the violence during protests in Rio de Janeiro in June.
Categories: World News

China awards first 4G licences

BBC News World - Wed, 12/04/2013 - 12:36pm
China has awarded its first licences to mobile phone companies to provide the superfast 4G mobile network to customers.
Categories: World News

Gazprom to Address EU Competition Concerns

Wall Street Journal Online - Wed, 12/04/2013 - 12:21pm
Russian energy company OAO Gazprom will present draft proposals responding to European Union competition concerns.
Categories: Financial News

S Lanka heroin scam hits PM's office

BBC News World - Wed, 12/04/2013 - 12:13pm
Sri Lanka's prime minister orders staff not to write letters in his name, after a heroin importation scam used a letter from his office.
Categories: World News

Thousands of Eritreans 'abducted'

BBC News World - Wed, 12/04/2013 - 12:10pm
Up to 30,000 Eritreans have been abducted since 2007 and taken to Egypt's Sinai to suffer torture and ransom demands, new research says.
Categories: World News

Shot Hezbollah commander buried

BBC News World - Wed, 12/04/2013 - 11:54am
Crowds of mourners in Lebanon turn out to bury Hassan Lakkis, a commander in the Shia militant group Hezbollah, killed at close range on Tuesday.
Categories: World News

VIDEO: BBC inside Ukraine protest site

BBC News World - Wed, 12/04/2013 - 11:53am
Protests sparked by the Ukrainian government's decision not to sign an association deal with the EU are continuing in the capital Kiev.
Categories: World News

Ukraine ex-presidents back protests

BBC News World - Wed, 12/04/2013 - 11:41am
Three ex-presidents of Ukraine give their support to anti-government protesters angered by the failure to sign a major deal with the EU.
Categories: World News

Super Bowl Ads Are Sold Out

Wall Street Journal Online - Wed, 12/04/2013 - 11:37am
Commercial time for next year's Super Bowl XLVIII is sold out, according to Fox network. Marketers are paying up to $4 million for 30 seconds during the game.
Categories: Financial News

New-Home Sales Surge

Wall Street Journal Online - Wed, 12/04/2013 - 11:33am
Sales of new homes picked up in October and inventory fell, a sign the housing market may be stabilizing after a sharp summer slowdown.
Categories: Financial News

Rash of soldier suicides hits Canada

BBC News World - Wed, 12/04/2013 - 11:31am
Canada's military is soul searching after the suicides of up to four soldiers in just a week, raising questions over post-traumatic stress disorder.
Categories: World News

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