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The man accused of scaling a security fence and getting into the White House with a knife is scheduled to have his initial appearance Monday in federal court.
Morgan Lewis & Bockius, Philadelphia’s largest law firm, has agreed to merge with Boston-based Bingham McCutchen, Reuters reported, citing three sources familiar with the situation. The deal, in which Morgan Lewis would certainly be the acquirer, would turn the firm into one of the five-largest in the world, with more than 2,000 lawyers and $2 billion in gross revenue. A Morgan Lewis spokesman told the Philadelphia Business Journal Sunday night that the firm would have no comment on the story.…
By Elzio Barreto HONG KONG (Reuters) - Alibaba's initial public offering now ranks as the world's biggest at $25 billion, netting underwriters of the sale a more than $300 million windfall after the e-commerce giant and some shareholders parted with additional shares. The fees are equivalent to 1.2 percent of the total deal, with Alibaba paying $121.8 million in commissions. Selling shareholders are set to pay another $178.6 million, according to a filing with the U.S. Securities and Exchange Commission on Monday. Overwhelming demand saw the IPO initially raise $21. ...
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NEW YORK (Reuters) - U.S. stock index futures were falling on Monday, putting the S&P 500 on track to pull back from near-record levels after China's finance minister indicated the country will not increase stimulus measures and ahead of data on the housing market. * China will not dramatically alter its economic policy because of any one economic indicator, Finance Minister Lou Jiwei said on Sunday, in remarks that came days after many economists lowered growth forecasts having seen the latest set of weak data. * U.S. existing home sales data for August is due at 10 a.m.. ...
By Ben Hirschler and Simon Jessop LONDON (Reuters) - GlaxoSmithKline may have closed one chapter in a saga of corruption allegations by accepting a $489 million fine in China, but the drugmaker has its work cut out to win back skeptical investors. That means continued pressure on Chief Executive Andrew Witty, seen not so long ago as one of the sector's star managers, who is under fire for allowing the erosion of GSK's all-important U.S. business just as much as for the woes in China. ...
Several advocacy groups are charging Wal-Mart with improperly administering a political-action committee. In a complaint expected to be filed to the Federal Election Commission, the groups pointed to a Wal-Mart (NYSE: WMT) program that solicits donations from employees to the PAC and offers to make matching donations to its Wal-Mart Associates in Critical Need Trust, according to a report by the Wall Street Journal. That could run afoul of elections law, since corporations are not supposed to donate…
FRANKFURT (Reuters) - Drugs and chemicals maker Merck KGaA said it agreed to acquire Sigma-Aldrich for $17 billion in cash to boost its Merck Millipore lab supplies business in the biggest takeover in the German group's history, lifting its shares. The deal, approved by Sigma-Aldrich's management, will see Merck acquire all shares for $140 apiece in cash. That represents a 37 percent premium over the latest closing price of $102.37 on Sept. 19 and a 36 percent premium to the one-month average closing price, according to Merck. ...
DETROIT (AP) — A hearing is scheduled in bankruptcy court on a motion to stop Detroit's water department from shutting off service to residents with unpaid bills.
ISTANBUL (Reuters) - Airbus adopted a cautious stance on aircraft output on Monday, telling the airline and leasing industry that it would examine supply chain and other conditions before deciding further increases in output of its popular A320 narrowbody series. The comments by sales chief John Leahy at an industry event came after both Airbus and its rival Boeing said recently that they were studying further increases in already record plans. ...
Jimmy Liang, a super-successful Quincy-based chief-entrepreneur, is expanding his restaurant footprint, the Patriot-Ledger reports. Liang has a restaurant in Kendall Square in Cambridge and one under construction in Assembly Square in Somerville, the paper says.
German industrial giant Siemens AG will buy Houston-based oilfield equipment company Dresser-Rand Group Inc. (NYSE: DRC) in a cash deal, valued at $7.6 billion with the assumption of debt. Dating back to July, it was speculated that Siemens would make a bid for Dresser-Rand to beef up its Houston presence. In making the deal, Siemens announced that Houston will become the headquarters of its oil and gas business. Siemens intends to retain the Dresser-Rand brand name and its executive leadership…
Good morning and welcome to your Monday. Here's some of your business: 1. AM News Talkers: The Washington Nationals still have a handful of regular-season games to go this week into next weekend, but a big focus is going toward the National League Division Series. That's because tickets for said playoffs go on sale Monday starting at 10 a.m. We gave you a bunch of info last week, but here's a recap: The tickets are available via the team's website or by calling 888-632-6287. You're limited to…
Let the bidding begin. The Wall Street Journal reported that bidding is open on Energy Future Holdings Corp.'s 80 percent stake in Oncor, the Dallas-based power transmission business that has been caught up in Energy Future Holdings' Chapter 11 bankruptcy proceeding. The competition began Friday evening, the Journal said. Hunt Consolidated Inc. and NextEra Energy Inc. are among those interested in acquiring the business from Dallas-based EFH. The opening of the bidding process seems to countermand…
North Carolina-based open-source enterprise software company Red Hat (NYSE: RHT) recently celebrated the completion of a $52 million, 100,000-square-foot expansion of its worldwide engineering and product headquarters in Westford. The new building, which sits right next to its older 75,000-square-foot research building, will house Red Hat's growing workforce. The company currently has almost 300 employees. The company will grow to around 400 employees over the next year but the offices now have…
Our future was supposed to be tiny. But with Apple's launch of its iPhone 6 Plus last week in stores, the phablet — a hybrid phone and tablet — is finally in the lexicon of Americans who probably didn't know that they even wanted this device. Earlier this month, I wrote about the booming phablet market and how it will soon overtake sales of tablets and laptops. Of course, Apple was not the first company to create a phablet. Samsung's Galaxy has been on the market for a few years now — a…
EMC Corp., the Hopkinton data storage giant for years has been a pillar of the state's tech industry, recently considered a merger with Hewlett-Packard and could pursue other deals, the New York Times and Wall Street Journal reported. The stories were summed up by Reuters. The stories pin a possible deal in part by the expected retirement in February 2015 of EMC CEO Joe Tucci. EMC is the fourth-largest publicly traded company in Massachusetts, ranked by revenue, according to Boston Business Journal…
Weeby thinks the way to hire superstar engineers in hypercompetitive Silicon Valley is to pay them like superstars, to the tune of $1 million over four years, and be totally transparent about it.>
A Magid survey found more people report going to Google's video site to watch television shows than Netflix or Hulu.>
Handy, the on-demand home cleaning and repair service that got its start at the Harvard Innovation Lab, said Monday that it acquired Mopp, a competitor based in London. Handy, which recently rebranded from Handybook, did not release exact financial terms of the "multi-million dollar" transaction that involved stock. The over 25 employees at Mopp, which only focuses on home cleaning, will be retained by Handy, according to a Handy spokeswoman. Mopp founders', Pete Dowds and Tom Brooks, will stay…
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