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Ackman avoids limelight even as Pershing Square posts record 2019

By Svea Herbst-Bayliss BOSTON (Reuters) – Two years ago, investor William Ackman, who pushes corporations to perform better, took his own advice and laid out a plan for a comeback after years of losses. Over dinner at the New York Public Library, Ackman told investors in January 2018 that he was going back to basics […]

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Kinder Morgan sells Pembina shares for $764 million

(Reuters) – Pipeline operator Kinder Morgan Inc <KMI.N> said on Thursday it sold the 25 million shares in Canada’s Pembina Pipeline Corp <PPL.TO> that it received when Pembina bought Kinder Morgan Canada for $764 million. Kinder Morgan said it will use the proceeds to cut its debt. Canada’s Pembina Pipeline had agreed to buy Kinder […]

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How Big Tech is helping transform cars into smartphones

By Jane Lanhee Lee and Stephen Nellis LAS VEGAS (Reuters) – Technology companies transformed smartphones and televisions into continuous fountains of revenue. Now, big tech wants to work with automakers to do the same thing for your car. With the widespread rollout of autonomous vehicles still years away, the two industries have converged on the […]

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Walsh hands over the controls after building British Airways parent IAG

By Sarah Young LONDON (Reuters) – Willie Walsh, who created British Airways parent IAG <ICAG.L> by dragging old-fashioned flag carriers into the modern age of budget flying, will step down in March to be replaced by Iberia boss Luis Gallego. Walsh, who had announced in November that he intended to retire in the next two […]

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Takeaway shareholders approve Just Eat acquisition: company

AMSTERDAM (Reuters) – Dutch food ordering company Takeaway.com said on Thursday its shareholders had approved plans for the company’s proposed 5.9 billion pound ($7.7 billion) acquisition of British peer Just Eat PLC<JE.L>. In a statement, Takeaway said its plan for an all-share merger had been approved at an extraordinary meeting of shareholders in Amsterdam. Takeaway […]

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Fed’s Clarida says rate cuts were ‘well timed,’ policy likely to remain appropriate

NEW YORK (Reuters) – Federal Reserve Vice Chairman Richard Clarida laid out an optimistic outlook for the U.S. economy in 2020 on Thursday, saying that last year’s rate cuts were “well timed” and that monetary policy is well positioned for the new year. Although the unemployment rate is at a 50-year low, the strong labor […]

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Concerns over U.S. Latecoere purchase overblown: Dassault CEO

PARIS (Reuters) – Concerns among French lawmakers about aerospace firm Latecoere’s <LAEP.PA> sale to a U.S. fund are “overblown”, the head of its major client Dassault Aviation said on Thursday. Dassault <AVMD.PA> boss Eric Trappier was speaking as head of French aerospace industry body GIFAS, after 17 parliamentarians objected to Latecoere’s acquisition by Searchlight Capital, […]

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Japan minister launches counterattack after Ghosn blasts justice system

By Chang-Ran Kim TOKYO (Reuters) – Japan’s justice minister launched a rare and forceful public takedown of auto executive-turned-fugitive Carlos Ghosn after he blasted the country’s legal system as allowing him “zero chance” of a fair trial as he sought to justify his escape to Beirut. After his dramatic flight to Lebanon last month, Ghosn […]

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Grocers roll out plant-based burgers – at prices below Beyond Meat

(This Jan. 8 story corrects para 11 to say private-label companies, and not retailers, will need to sell plant-based products at a net wholesale cost of $1.25 below Beyond Meat and rivals) By Richa Naidu CHICAGO (Reuters) – Cashing in on rising demand for imitation meat, major retailers including Kroger and Walmart recently began to […]

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Volkswagen’s 2019 vehicle deliveries slightly above 2018

FRANKFURT (Reuters) – Volkswagen Group <VOWG_p.DE> said on Thursday its vehicle deliveries last year were slightly above the previous year’s level, revising up an earlier forecast which predicted 2019 sales would be level with the year before. In 2018, the multi-brand car and trucks maker, which owns the Scania, MAN, Lamborghini, Skoda, Audi, Porsche and […]