Reuters loses appeal of injunction preventing publication of story
Reuters has lost its appeal against an injunction that prevented it from reporting leaked confidential and commercially sensitive information concerning global alternative asset manager Brevan Howard Asset Management LLP. Louise Turner of Lexology reports, “Reuters appealed the decision. The basis of the appeal was that the Judge had erred by failing to conduct a proper balancing and […]
Coverage: Elliott’s bid for Oncor tops Buffett
Elliott Management Corp., the largest creditor of the bankrupt parent of Oncor Electric Delivery Co., unveiled a plan on Monday to best Berkshire Hathaway Inc.’s deal for the Texas utility with a bid worth $18.5 billion. Jessica DiNapoli of Reuters had the news: Elliott revealed in documents published on its website it was unhappy with the recovery […]
Coverage: Hobby Lobby to return ancient artifacts, pay fine
Retailer Hobby Lobby agreed to forfeit thousands of artifacts from modern-day Iraq and pay a $3 million fine to resolve a civil action the Justice Department brought against the company. Chris Boyette of CNN had the news: The DOJ said the company received the falsely labeled artifacts from a United Arab Emirates-based supplier. The artifacts, ancient […]
Coverage: Target is rolling out some new brands
Retailer Target Corp. is introducing some new brands to shoppers this fall as it focuses on home furnishings and apparel. Lauren Thomas of CNBC.com had the news: Earlier this year, Target had already made it clear that it planned to roll out 12 additional, private-label brands in the coming months. The first, Cloud Island, launched in […]
Coverage: Blue Apron goes public, but stock doesn’t sizzle
Meal-kit company Blue Apron Holdings Inc. saw its stock go public on Thursday and begin trading, but its shares didn’t show much sizzle due to worries about how the company would fare against Amazon after it closes its Whole Foods purchase. James F. Peltz and Samantha Masanuga of the Los Angeles Times had the news: The 5-year-old company, […]
Coverage: Businesses struggle to combat cyberattack
A new cyber virus spread from Ukraine to wreak havoc around the globe on Wednesday, crippling thousands of computers, disrupting ports from Mumbai to Los Angeles and halting production at a chocolate factory in Australia. Eric Acuhard, Jack Stubbs and Alessandra Prentice of Reuters had the news: The virus is believed to have first taken hold on Tuesday […]
ABC News settles “pink slime” lawsuit with beef producer
ABC News and a South Dakota meat producer announced a settlement Wednesday in a $1.9-billion lawsuit against the TV network over its reports on a lean, finely textured beef product that critics dubbed “pink slime.” Timothy McLaughlin of Reuters reported, “BPI had claimed that ABC, a unit of Walt Disney Co, and Avila defamed the company by […]
Covering: Facebook hits 2 billion users
Social media service Facebook now has 2 billion users, CEO Mark Zuckerberg said on Tuesday, or about 25 percent of the world’s population. Anita Balakrishnan of CNBC.com had the news: The milestone comes as Zuckerberg has revealed a new mission for the social network over the past few months. The company, which in the past had […]
Coverage: Activist investor Loeb takes aim at Nestle
Billionaire activist investor Daniel Loeb’s hedge fund Third Point paid $3.5 billion for a 1.3 percent stake in Nestlé and said the world’s largest food manufacturer is “stuck in its old ways” and called for changes to boost earnings. Roger Yu of USA Today had the news: Nestlé has fallen behind over the past decade in an […]
Coverage: Buffett pumps $1.8 billion into Canadian lender
Billionaire investor Warren Buffett has pumped $1.8 billion into Home Capital Group, a Canadian mortgage lender that spent the last month shoring itself up after depositors abandoned it in droves after accusations of fraud. Michael de la Merced of the New York Times had the news: Late on Wednesday, Home Capital disclosed that it had sold a […]
