What's News: Business & Finance -- WSJ
March 01 2018 - 3:02AM
Dow Jones News
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (March 1, 2018).
Pershing Square is ending its crusade against Herbalife. The
company's stock, which activist investor Ackman said would fall to
zero, hit a new high.
Ackman's fund has taken a stake in United Technologies, joining
other activists in the industrial sector.
The SEC has issued dozens of subpoenas and information requests
to tech firms and advisers in the cryptocurrency market.
Spotify cemented plans for its IPO in a filing that revealed
sharp sales growth but ballooning losses at the music-streaming
firm.
Bank of America fired two employees as it expands a probe of
potential sexual misconduct in its prime brokerage unit.
U.S. stocks fell as investors weighed the impact of higher rates
on the market. The Dow slid 380.83 points, or 1.5%, to
25029.20.
The U.S. economy rose at a 2.5% annual rate in the fourth
quarter, slightly lower than initially estimated.
American rejected aspects of expansion plans for Chicago's
O'Hare airport, saying they favor United.
Bayer said it is preparing to sell more assets to win antitrust
approval for its purchase of Monsanto.
Deloitte agreed to settle allegations that it failed to head off
fraud at mortgage company Taylor Bean.
China's Baidu filed for an IPO in the U.S. of its iQiyi
video-streaming unit.
(END) Dow Jones Newswires
March 01, 2018 02:47 ET (07:47 GMT)
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