By Svea Herbst-Bayliss (Reuters) -ValueAct Capital has built a $1-billion stake in Meta Platforms but is not currently pushing for big changes at the Facebook and Instagram parent, a source familiar with the matter told Reuters on Tuesday. The stake, which ValueAct has been building in recent weeks, now ranks among the firm’s two largest […]
Elliott calls for Honeywell break up, takes $5 billion-plus stake
By Svea Herbst-Bayliss (Reuters) -Activist investor Elliott Investment Management said Honeywell should split into two separate businesses on Tuesday, following in the footsteps of other industrial conglomerates that have broken up in recent years. Elliott said in a letter that it had built a stake worth more than $5 billion in Honeywell, one of its […]
Exclusive-Amazon developing driver eyeglasses to shave seconds off deliveries, sources say
By Greg Bensinger (Reuters) – Amazon is developing smart eyeglasses for its delivery drivers to guide them to, around and within buildings, as it tries to smooth the final stretch of an order’s journey to a customer’s home, five people familiar with the matter said. If successful, the glasses would provide drivers with turn-by-turn navigation […]
Bitcoin surge triggers billions in losses for crypto short traders after Trump win
By Shashwat Chauhan (Reuters) – Short sellers of cryptocurrency and blockchain-related stocks have suffered heavy losses since Nov. 6, after bitcoin surged to record highs, on optimism U.S. President-elect Donald Trump would implement a more favorable regulatory framework. Crypto short trades looked set for a further hammering on Monday as most cryptocurrency-related stocks jumped in […]
Morgan Stanley’s PE arm to sell HVAC firm to Goldman Sachs Alternatives
(Reuters) -Morgan Stanley’s private equity arm is selling its heating, ventilation and air conditioning (HVAC) business Sila Services, about three years after it invested in the company to take advantage of the growing interest in the sector. Pennsylvania-based Sila will be sold to the private equity unit of Goldman Sachs Alternatives, Morgan Stanley said on […]
FTX sues Binance and its former CEO for $1.8 billion
LONDON (Reuters) – Collapsed cryptocurrency company FTX is suing Binance and its former CEO Changpeng Zhao, alleging that $1.8 billion was “fraudulently transferred” by FTX management to Binance and its executives. The lawsuit relates to Binance’s sale of its stake in Sam Bankman-Fried’s FTX, which it acquired in 2019 but then negotiated to sell back […]
Exclusive-Stellantis, partner Leapmotor scrap plan to make second EV model in Poland, sources say
SHANGHAI (Reuters) – Stellantis and its Chinese partner Leapmotor have scrapped a plan to make a second electric vehicle model at the European automaker’s plant in Poland, two people with knowledge of the matter told Reuters. The joint venture is instead considering using a Stellantis factory in Eisenach, Germany that produces Opel models and its […]
Exclusive-Biden administration buys last oil for emergency reserve as fund taps out
By Timothy Gardner WASHINGTON (Reuters) – The Biden administration said on Friday it has bought its last batch of oil for the Strategic Petroleum Reserve after selling a record amount from the facility in 2022 to counter fuel prices that had risen after Russia’s invasion of Ukraine. The Department of Energy said it had bought […]
Tesla hits $1 trillion market value as Musk-backed Trump win fans optimism
(Reuters) – Tesla’s market value breached the $1 trillion-mark in a sharp rally on Friday, on growing bets of a favorable treatment for CEO Elon Musk’s companies in return for his support for President-elect Donald Trump in his poll campaign. The electric automaker’s shares rose more than 6% to a more than two-year high of […]
Boeing exploring possible $6 billion sale of Jeppesen unit, Bloomberg News reports
(Reuters) – Boeing is exploring a possible $6 billion sale of its Jeppesen navigation unit, Bloomberg News reported on Friday. The planemaker is working with an adviser on the potential sale of the unit, which provides interactive flight plans, the report said. Suitors are already circling Jeppesen, which could attract sizable interest from private equity […]