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Monday, November 17, 2014

Daily Investor Briefing: S&P 500 ends at record on M&A activity...

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S&P 500 ends at record on M&A activity
NEW YORK (Reuters) - The S&P 500 edged up to close at a record on Monday as deal activity worth $100 billion offset concerns about overseas growth after Japan's economy slipped into recession.
Halliburton to buy Baker Hughes for about $35 billion
(Reuters) - Halliburton Co said on Monday it will buy Baker Hughes Inc for about $35 billion in cash and stock, creating an oilfield services behemoth to take on market leader Schlumberger NV as customers curb spending on falling oil prices.
Allergan agrees to $66 billion Actavis offer; Valeant walks
(Reuters) - Botox maker Allergan Inc on Monday accepted a $66 billion takeover bid from Actavis Plc, ending a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International Inc.
U.S. manufacturing expands, but may be losing speed
WASHINGTON (Reuters) - U.S. manufacturing output rose modestly in October as motor vehicle production fell for a third straight month, suggesting some slowing in economic growth at the start of the fourth quarter.
Fed hosts meeting with banks, regulators on LIBOR alternatives
WASHINGTON (Reuters) - The Federal Reserve said it is hosting a meeting on Monday with banks and regulators to discuss the development of a reference rate alternative to LIBOR, the London interbank rate that was at the center of a global rigging scandal.
GM ignition-switch claims deadline extended to January 31
(Reuters) - The deadline to file claims under General Motors Co's faulty ignition-switch compensation program has been extended by one month to Jan. 31, said Kenneth Feinberg, the program's administrator.
UPS CEO: Unplanned holiday surge could cost retailers
ATLANTA (Reuters) - United Parcel Service Inc's chief executive officer said on Monday the company's closer collaboration with major retailers should bring a smooth holiday season, but he said UPS would charge customers more or even refuse packages if last-minute sales by a major customer threaten the company's system.
Madoff trustee recoups nearly $500 million more for customers
NEW YORK (Reuters) - Former customers of Bernard Madoff may soon recover an additional $496.8 million as a result of a settlement with two "feeder funds" that was announced on Monday by the trustee liquidating the swindler's firm.
Takata, Honda sued over death linked to faulty air bag
NEW YORK (Reuters) - Takata Corp and Honda Motor Co were hit Monday with a lawsuit over an air bag linked to the death last month of a woman in Florida, the latest legal issue for the companies as they continue to recall millions of vehicles for the faulty part.
Pfizer dampens Astra bid hopes with German Merck cancer deal
FRANKFURT/LONDON (Reuters) - Pfizer dampened investors' expectations of a renewed bid for AstraZeneca on Monday by signing a major cancer drug deal with Germany's Merck KGaA , reducing the U.S. firm's need for Astra's products.
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