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U.S., McKinsey & Co reach $15 million settlement over bankruptcy case disclosures

February 19, 2019 by  
Filed under News

The United States and McKinsey & Company have reached a $15 million settlement over allegations that the global consulting company did not make proper disclosures in bankruptcy cases, the U.S. Department of Justice said in a statement on Tuesday.


Source: Reuters Business News

Ford exiting heavy truck business in South America

February 19, 2019 by  
Filed under News

Ford Motor Co on Tuesday said it would exit its heavy commercial truck business in South America and cease production at a Brazilian plant this year as a result.


Source: Reuters Business News

Honeywell-Pratt venture protests U.S. Army's contract to GE

February 19, 2019 by  
Filed under News

A joint venture of Honeywell International Inc and Pratt & Whitney on Tuesday protested the U.S. Army’s decision to award General Electric Co a contract for new Black Hawk and Apache helicopter engines.


Source: Reuters Business News

Allergan should explore selling itself: Appaloosa's Tepper

February 19, 2019 by  
Filed under News

Billionaire hedge fund manager David Tepper stepped up pressure on Allergan Plc, saying on Tuesday the drugmaker should consider selling itself if management is unable to turn around recent lagging performance.


Source: Reuters Business News

Walmart holiday-quarter sales jump, says consumers still spending

February 19, 2019 by  
Filed under News

Walmart Inc posted its strongest holiday quarter in at least a decade on Tuesday, boosted by higher grocery and e-commerce sales, and said it saw no signs of weakness in U.S. consumer spending despite recent signs of a slowdown.


Source: Reuters Business News

U.S. agency submits auto tariff probe report to White House

February 18, 2019 by  
Filed under News

The U.S. Commerce Department sent a report on Sunday to U.S. President Donald Trump that could unleash steep tariffs on imported cars and auto parts, provoking a sharp backlash from the industry even before it is unveiled, the agency confirmed.


Source: Reuters Business News

Papa John's founder Schnatter says he welcomes hedge fund Starboard

February 18, 2019 by  
Filed under News

Papa John’s International Inc founder John Schnatter welcomes hedge fund Starboard Value LP’s investment in the pizza restaurant chain, his lawyer said, even as he filed an updated lawsuit on Monday against the company.


Source: Reuters Business News

Germany bans Wirecard 'shorting' as prosecutors probe FT journalist

February 18, 2019 by  
Filed under News

Germany’s financial watchdog has banned “short” selling of Wirecard shares due to volatility in the payments firm’s stock following reports in the Financial Times which are now the subject of an investigation by German authorities.


Source: Reuters Business News

FAA investigates Southwest over baggage weight discrepancies: WSJ

February 18, 2019 by  
Filed under News

The U.S. Federal Aviation Administration is investigating Southwest Airlines Co for widespread failure to accurately track the combined weight of checked bags loaded onto its jets, according to a Wall Street Journal report on Monday.


Source: Reuters Business News

EU's Juncker expects Trump to refrain from imposing higher tariffs on cars

February 18, 2019 by  
Filed under News

U.S. President Donald Trump has promised European Commission President Jean-Claude Juncker that he will not impose additional import tariffs on European cars for the time being, Juncker was quoted in a published interview as saying on Monday.


Source: Reuters Business News

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