Business News

  • Allergan Rejects Latest Valeant Bid
    Allergan’s board has rejected the latest takeover bid from Valeant Pharmaceuticals and William Ackman’s Pershing Square, saying the offer substantially undervalues the Botox maker.
  • United to Change Frequent-Flier Plan
    United Continental plans to change its frequent-flier plan to award miles based on ticket price rather than distance flown.
  • Family Dollar Adopts Shareholder Rights Plan
    Family Dollar enacted measures Monday to prevent any investor from gaining control of the discounter, a response to activist investor Carl Icahn’s newly acquired stake.
  • Citic Seeks to Secure Qingdao Metals
    State-owned Citic Resources Holdings Ltd. said it has applied to courts in the city of Qingdao to secure metals assets it owns in warehouses, as concerns mount over the use of commodities for financing in China.
  • PayPal Boss to Join Facebook
    David Marcus, president of eBay’s PayPal payments subsidiary, is leaving to become Facebook’s vice president of messaging products.
  • Web Weapon: No-Frills Servers
    Wall Street banks and other companies are experimenting with computer servers and other equipment from low-frills hardware makers like Quanta Computer, taking market share from some bigger companies.
  • Drawing Ultra-Orthodox Jews Into Tech
    Amid Israel’s tech boom, the government and many of the country’s biggest tech employers are scrambling to help the country’s ultra-Orthodox Jews break into the sector.
  • ECB Determined to Contain Low Inflation Risk
    The European Central Bank is determined to contain any risks that prolonged low inflation could pose to price stability and economic recovery, policy maker Erkki Liikanen said.
  • MetLife to Resume Share Buybacks
    MetLife said it would resume share repurchases, intending to buy up to $1 billion while it awaits word on whether it will be named a nonbank capital rules.

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