Business News

Icahn steps up fight against SandRidge's plan to buy Bonanza Creek

(Reuters) - Activist investor Carl Icahn on Friday urged SandRidge Energy Inc’s (SD.N) stockholders to vote against the oil and gas company’s plan to issue shares for its proposed acquisition of Bonanza Creek Energy (BCEI.N). Icahn, SandRidge's biggest shareholder with a 13.5 percent stake, has called SandRidge's $746 million offer – $19.20 per share in cash and $16.80 in stock – for Bonanza Creek "value-dest...

15 Dec 3:29 PM 0 Read More...

CSX shares tumble after CEO's medical leave

(Reuters) - CSX Corp’s (CSX.O) shares tumbled on Friday in premarket trading after the No. 3 U.S. railroad said Chief Executive Hunter Harrison was taking medical leave for unexpected complications from a recent unspecified illness. The leave comes amid the company’s controversial turnaround plan that has drawn customer criticism and scrutiny from regulators. [nL1N1OF03H] “The importance of Harrison’s influen...

15 Dec 3:29 PM 0 Read More...

Asian shares slip, U.S. tax reform woes dent sentiment

TOKYO (Reuters) - Asian shares erased earlier modest gains on Friday with sentiment dented by Wall Street’s weakness on concerns about the progress of U.S. tax reform, though regional stocks remain on track for a weekly rise. European stock futures STXEc1 were down 0.3 percent, suggesting a downbeat opening for the region, with DAX futures FDXc1 also down 0.3 percent, CAC futures FCEc1 down 0.2 percent and FTSE fut...

15 Dec 10:20 AM 0 Read More...

Disney buying Fox film, TV units for $52 billion in digital push

(Reuters) - Walt Disney Co has struck a deal to buy film, television and international businesses from Rupert Murdoch’s Twenty-First Century Fox Inc for $52.4 billion in stock, giving the world’s largest entertainment company an arsenal of shows and movies to combat growing digital rivals Netflix Inc and Amazon.com Inc. The deal brings to a close more than half a century of expansion by Murdoch, 86, who turned a ...

14 Dec 7:09 PM 0 Read More...

S&P, Dow flat as healthcare losses offset by tech, media gains

(Reuters) - The S&P 500 and the Dow were trading flat in early afternoon on Thursday as losses in healthcare stocks such as Johnson & Johnson were offset by gains in shares of technology and consumer discretionary companies. Walt Disney (DIS.N) struck a deal to buy Twenty-First Century Fox’s (FOXA.O) assets for $52.4 billion in stock. Fox rose 4.12 percent and Disney 2.2 percent, boosting the consumer discr...

14 Dec 7:09 PM 0 Read More...

Global stocks edge up amid central bank bonanza

LONDON (Reuters) - World shares eked out modest gains on Thursday as cautious comments on inflation from the U.S. Federal Reserve gave investors pause on a day packed with central bank decisions in Europe. Both the European Central Bank and the Bank of England left interest rates unchanged as expected, and traders will focus on the ECB’s press conference at 1330 GMT for hints on the bank’s policy outlook. “The...

14 Dec 2:06 PM 0 Read More...

Disney to buy Fox film, some TV businesses for $52 billion

(Reuters) - Walt Disney Co has struck a deal to buy film, television and international businesses from Rupert Murdoch’s Twenty-First Century Fox Inc for $52.4 billion in stock as the world’s largest entertainment company seeks even greater scale to combat growing digital rivals Netflix Inc and Amazon.com Inc. The deal brings to a close more than half a century of expansion by Murdoch, 86, who turned a single Aust...

14 Dec 2:06 PM 0 Read More...

Stock futures up, eyes on Disney-Fox deal, bank stocks

(Reuters) - Wall Street was set for a slightly higher open on Thursday as traders focused on a $52.4 billion stock deal between Walt Disney and Twenty-First Century Fox and gains in shares of big banks. - Shares of Rupert Murdoch’s Fox (FOXA.O) jumped 2.9 percent in premarket trading after Walt Disney (DIS.N) agreed to buy the Fox’s film, television and international businesses. Disney shares rose 1 percent. - S...

14 Dec 2:06 PM 0 Read More...

Disney deal set to value Fox at more than $75 billion: source

(Reuters) - Walt Disney Co’s (DIS.N) deal to buy film, television and international businesses from Rupert Murdoch’s Twenty-First Century Fox Inc (FOXA.O) will value the latter at over $40 per share, or $75 billion, a person familiar with the matter said. The deal, which is set to be announced on Thursday, will end more than half a century of expansion by Murdoch, 86, who turned a single Australian newspaper he i...

14 Dec 4:04 AM 0 Read More...

Asia stocks edge higher after Fed meeting; dollar, U.S. yields sag

TOKYO (Reuters) - Asian stocks edged higher on Thursday after the Federal Reserve delivered a much-anticipated interest rate hike but flagged caution about inflation, tempering expectations for future tightening, which weighed on the dollar and Treasury yields. China’s central bank also raised rates, though marginally. While Chinese shares were slightly lower, the wider impact was limited. As widely expected, the ...

14 Dec 4:04 AM 0 Read More...