By Svea Herbst-Bayliss NEW YORK (Reuters) – Jana Partners, the biggest investor in pet food company Freshpet , wants to replace four board members to better supervise capital expenditures and position the company more favorably for a possible sale in the future. The activist investor now owns a 9.3% stake and on Wednesday criticized the…
(Reuters) -Shares of U.S. regional lender PacWest Bancorp fell nearly 2% on Wednesday, as investor optimism over its property lending unit sale and the divestment of real estate loans became overshadowed by the debt ceiling impasse. A deal to raise the U.S. debt limit remained elusive, weighing on investor sentiment, as negotiations between Democrats…
WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Wednesday that seeing a greater concentration among the largest banks would not be desirable and she believes it is important to maintain a diverse banking sector. A mix of large banks, regional banks and mid-sized community banks would be the healthiest option, Yellen said. “Banks of…
By Rich McKay (Reuters) – Disbarred South Carolina lawyer Richard “Alex” Murdaugh, already convicted of murdering his wife and son, on Wednesday was indicted by a federal grand jury on 22 counts of financial fraud, including charges involving his housekeeper’s death. Murdaugh, 54, the scion of an influential legal family in an area west of…
(Reuters) – Federal Reserve Governor Christopher Waller on Wednesday said that while inverted yield curves in the context of stable inflation often point to a bad economic outlook, the current yield curve inversion may signal better times ahead. “What you’re seeing in the inversion is not so much fears about bad economic outcomes in the…
SARAJEVO (Reuters) – A higher court in Montenegro on Wednesday scrapped bail of 800,000 euros ($880,640) previously granted to Do Kwon, a cryptocurrency entrepreneur charged in the U.S. with a multibillion-dollar fraud, and his ally pending a trial. Do Kwon, a South Korean national, is the former CEO of South Korea-based Terraform Labs, the company…
By Laura Matthews NEW YORK (Reuters) – Expectations for lower returns in stocks and bonds are sending some pension funds into currency markets to diversify their portfolios and bolster performance. While both equities and fixed income have partially rebounded from last year’s steep declines, some portfolio managers worry the scope for upside in either asset…
By James Oliphant WASHINGTON (Reuters) – Florida Governor Ron DeSantis is expected to make his long-awaited foray into the 2024 presidential race on Wednesday in an unusual manner – at an event with billionaire Elon Musk on Twitter. His entry changes the shape of the contest for the Republican nomination, as he likely will emerge…
By Andrea Shalal and Susan Heavey WASHINGTON (Reuters) – China’s move on Micron Technology Inc won’t torpedo larger efforts to get U.S.-China relations into better position, White House spokesman John Kirby said on Wednesday, adding that Washington was engaged directly with Beijing. Kirby told reporters the Chinese government’s recent ban on the U.S. chipmaker Micron…
By Tiyashi Datta (Reuters) – Florida Governor Ron DeSantis will announce on Wednesday he is entering the 2024 presidential race during a Twitter Spaces discussion with billionaire Elon Musk, the first time such an announcement will be made on social media. Musk and DeSantis will host the event on Twitter Spaces at 6 p.m. ET…
