By Chris Taylor NEW YORK (Reuters) – When accountant Zach Gordon gets calls from clients about how to handle cryptocurrency on their taxes, there is a common theme. “They have absolutely no idea,” says Gordon, a principal with Grassi Advisors & Accountants in Westchester, New York. It is not entirely their fault. The whole arena …
BOSTON (Reuters) – Shareholder activist Jonathan Litt ended plans to win board seats at LXP Industrial Trust, the company said on Wednesday, less than a week after it suspended plans to explore strategic alternatives, including a possible sale. Litt’s investment firm Land & Buildings notified the U.S. warehouse-focused real estate investment trust in a letter …
Activist Litt ends plans to push for board seats at LXP Read More »
(Reuters) -The U.S. Federal Reserve must put the brakes on economic activity to tackle surging prices, James Bullard, president of the St. Louis Fed, told the Financial Times in an interview https://on.ft.com/3uBKcZZ. It is a “fantasy” to think the Fed can tame the fastest U.S. inflation in four decades without aggressively raising interest rates, he …
Fed’s Bullard says central bank must put brakes on economic activity -FT Read More »
By Jonathan Stempel NEW YORK (Reuters) – Alleghany Corp, which agreed last month to be acquired by Warren Buffett’s Berkshire Hathaway Inc, was sued on Wednesday by a shareholder who accused the insurance company of making inadequate and misleading disclosures about the $11.6 billion takeover. In a complaint filed in Manhattan federal court, the plaintiff …
By Svea Herbst-Bayliss BOSTON (Reuters) – The activist investor that pushed to oust Peloton Interactive Inc’s co-founder and leader in January is now criticizing its new chief executive officer, arguing he has not made enough changes and that the company should be sold now. Blackwells Capital, which owns nearly 5% of the company, said Peloton …
Activist investor Blackwells criticizes new Peloton CEO, urges sale Read More »
By Ross Kerber (Reuters) – Top proxy adviser Institutional Shareholder Services on Tuesday recommended investors cast proxy votes against the pay of Wells Fargo & Co Chief Executive Charles Scharf and other leaders, citing concerns about the discretion used to award the pay and lack of disclosures. In a report provided by a representative, ISS …
ISS says Wells Fargo pay reforms insufficient to justify support Read More »
HONG KONG (Reuters) – Citigroup Inc said on Tuesday it appointed Angel Ng to lead its Asia Pacific global wealth management business. Ng, currently Citigroup’s Hong Kong chief executive, will oversee Citi’s wealth management business — centred around hubs in Singapore and Hong Kong — and lead the personal banking units in both cities. She …
(Reuters) -Pendal Group Ltd said on Tuesday the A$2.40 billion ($1.78 billion) non-binding takeover offer from asset manager Perpetual Ltd “significantly undervalued” the Australian investment manager. The A$6.23 per share offer for Pendal, a former unit of Westpac Banking Corp, was first disclosed on April 4 and was at a 39.2% premium to the stock’s …
Pendal says Perpetual’s offer significantly undervalues investment manager Read More »
By Jonathan Stempel NEW YORK (Reuters) – Warren Buffett needed just two weeks to put together Berkshire Hathaway Inc’s $11.6 billion takeover of Alleghany Corp, its largest acquisition in six years, even as he balked at paying the insurer’s banking fee, a regulatory filing on Monday shows. Alleghany said its Chief Executive Officer Joseph Brandon …
Buffett needed two weeks for $11.6 billion Alleghany purchase, balked at Goldman fee Read More »
By Svea Herbst-Bayliss BOSTON (Reuters) -Activist investment firm Sachem Head on Monday cut its slate of director nominees at US Foods Holding Co to five from seven, backing away from plans to try and take control of the food distributor’s board. The hedge fund, US Foods’ biggest shareholder with an 8.7% stake, announced the move …
Sachem Head cuts director slate to 5 in US Foods board battle Read More »
