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Friday, May 9, 2014

Business Today: Omnicom, Publicis call off proposed $35 billion merger

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05/9/2014
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Omnicom, Publicis call off proposed $35 billion merger
LONDON/NEW YORK/PARIS (Reuters) - The $35 billion merger of U.S.-based Omnicom and France's Publicis collapsed on Friday after a battle for control destroyed plans to create the world's largest advertising agency.
ECB stimulus talk knocks euro, peripheral yields
LONDON (Reuters) - Yields on lower-rated euro zone bonds fell to record lows and the euro slid further on Friday as investors positioned for more monetary stimulus from the European Central Bank.
Wal-Mart should face lawsuit over Mexico operations: U.S. judge
(Reuters) - Wal-Mart Stores Inc should face a U.S. shareholder lawsuit accusing it of concealing suspected corruption at its Mexico operations, even after learning that a damaging media report was being prepared for publication, a federal judge said.
Pfizer under fire in Europe, U.S. as it weighs next Astra move
LONDON (Reuters) - U.S. drugmaker Pfizer is under fire on both sides of the Atlantic as it weighs its next move to buy British rival AstraZeneca , which could be a sweetened offer next week.
Credit Suisse says doing everything it can to settle U.S. tax probe
ZURICH (Reuters) - Credit Suisse is doing everything in its power to reach a settlement with U.S. authorities who are probing whether and how its private bankers helped wealthy Americans dodge their taxes, executives will tell the bank's shareholders on Friday.
Banks to return $4.66 billion in crisis loans to ECB next week
FRANKFURT (Reuters) - Banks will return 3.365 billion euros ($4.66 billion) in long-term crisis loans to the European Central Bank next week, less than expected but more than this week as banks trim down their reliance on ECB funding and return to the markets.
China pledges to push ahead with capital market reforms
SHANGHAI (Reuters) - China pledged on Friday to push ahead with a broad range of capital market reforms as it seeks to encourage more efficient capital allocation, increase foreign investment and improve transparency of its markets.
Goldman says its overseas hiring practices being investigated
(Reuters) - Goldman Sachs Group Inc disclosed on Friday that it was being investigated over its hiring practices outside the United States.
Apple close to buying Beats for $3.2 billion: source
SAN FRANCISCO (Reuters) - Apple Inc is close to paying a record $3.2 billion for Beats Electronics, two people with knowledge of the matter said, an expensive foray into music streaming and headphone gear that would mark a departure for the usually cash-conservative iPhone maker.
France wants Areva to buy Alstom wind unit if GE wins bid: paper
PARIS (Reuters) - France wants state-controlled nuclear group Areva to take over Alstom's offshore wind turbine unit if General Electric's bid for Alstom succeeds, a French paper reported on Friday.
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