Reuters US Business

By David Randall NEW YORK (Reuters) – Billionaire Leon Cooperman, hedge fund Lone Pine Capital, and mutual fund manager Polen Capital were among firms that greatly reduced their positions in Facebook-parent Meta Platforms Inc in the quarter that ended Dec. 31, potentially protecting them from some losses during the company’s record one-day plunge in Feb, …

Cooperman, Lone Pine among funds that dumped Meta before earnings rout Read More »

By Dietrich Knauth (Reuters) – A Johnson & Johnson subsidiary came under attack in court on Monday for attempting to use the bankruptcy process to resolve tens of thousands of claims that its baby powder and other talc-based products caused cancer. The subsidiary, LTL Management, is fighting to remain in bankruptcy, arguing that is the …

Johnson & Johnson defends talc bankruptcy strategy called ‘rotten’ by cancer plaintiffs Read More »

By David Randall, Svea Herbst-Bayliss and Jonathan Stempel (Reuters) – Warren Buffett’s Berkshire Hathaway Inc acquired nearly $1 billion of shares in Activision Blizzard Inc before Microsoft Corp agreed to buy the video game maker for $68.7 billion, according to a Monday regulatory filing. Berkshire said that as of Dec. 31, it owned 14.7 million …

Buffett’s Berkshire bought Activision shares before Microsoft takeover Read More »

(Reuters) – Federal investigators have launched a probe into block trading at Wall Street hedge funds and banks including Morgan Stanley and Goldman Sachs Group Inc, the Wall Street Journal reported, citing people familiar with the matter. The Securities and Exchange Commission (SEC), along with the Department of Justice, is investigating whether bankers may have …

Regulators probe block trading at Wall Street banks, hedge funds- WSJ Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. passenger airlines carried 670.4 million passengers in 2021, up 83% over 2020 levels but still down significantly from pre-coronavirus pandemic levels, the Transportation Department said on Monday. The department in preliminary data said airlines carried 303.6 million more passengers in 2021 but 245.9 million fewer, or 27%, than in …

U.S. airlines see 2021 traffic jump, but below pre-pandemic levels Read More »

By Elvira Pollina MILAN (Reuters) -Telecom Italia (TIM) directors discussed on Monday an overhaul of Italy’s biggest telecoms group, as newly appointed Chief Executive Pietro Labriola draws up an alternative to a takeover bid by U.S. fund KKR. TIM must find a way to shore up its business after a string of profit warnings last …

In shadow of KKR approach, Telecom Italia presses ahead with alternative plan Read More »

(Reuters) -Intel Corp is nearing a deal to buy Israeli chip firm Tower Semiconductor for almost $6 billion, the Wall Street Journal reported https://www.wsj.com/articles/intel-near-roughly-6-billion-deal-to-buy-tower-semiconductor-11644876391?mod=latest_headlines on Monday, as the U.S. company ramps up spending to boost its manufacturing operations. A deal could be unveiled as soon as this week assuming the talks do not fall apart, …

Intel nearing $6 billion deal to buy Tower Semiconductor – WSJ Read More »

By Stephen Culp NEW YORK (Reuters) – The S&P 500 index closed modestly lower on Monday, largely recovering from a sharp sell-off, as U.S. plans to close its Kyiv embassy in Ukraine sent simmering geopolitical tensions to a boil. All three major U.S. stock indexes dropped sharply after U.S. Secretary of State Antony Blinken announced …

The S&P 500 ends down as Russia-Ukraine tensions heat up Read More »