Business News

• Elliott targets Twitter, seeking CEO Dorsey's removal: sources February 29, 2020
  Hedge fund Elliott Management Corp has amassed a stake in Twitter Inc and is pushing for changes, including removal of the social media company's chief executive, Jack Dorsey, two people familiar with the matter said on Friday.
• USTR vows to push for trade deals with Britain, EU; seeks reforms at WTO February 29, 2020
  The Trump administration on Friday said it would focus on concluding new trade agreements with Britain, the European Union and Kenya over the coming year, while strictly enforcing trade laws and pushing for reforms of the World Trade Organization.
• Harley-Davidson looks for new leadership to end its sales struggle February 29, 2020
  Harley-Davidson Inc on Friday named a board member hailed for turning around the Puma brand's near-bankrupt business as its interim chief as the motorcycle maker gropes for an effective strategy to woo young customers and revive sales.
• Wall Street Weekahead: Main Street leans toward Sanders, but Wall Street says Trump February 29, 2020
  Vermont Senator Bernie Sanders may be surging in the polls ahead of Super Tuesday, but some on Wall Street have made their own conclusions on what November will bring: four more years of President Donald Trump.
• UBS CEO's pay slips to $1 million a month as Swiss bank's top bosses pocket $113 million February 29, 2020
  UBS Chief Executive Sergio Ermotti, one of Europe's best paid bankers, earned 12.5 million francs in 2019, down from 14.1 million in 2018 after the bank was hit with a multi-billion-euro court case and it missed earnings goals.
• Sanofi to pay $11.9 million to resolve U.S. drug charity kickback probe February 29, 2020
  Sanofi SA has agreed to pay $11.85 million to resolve U.S. allegations that it used a charity that helps cover Medicare patients' out-of-pocket drug costs as a means to pay them kickbacks to use a high-priced multiple sclerosis drug.
• S&P falls for seventh day, suffers biggest weekly plunge since 2008 crisis February 29, 2020
  The S&P 500 fell for the seventh straight day on Friday and the benchmark index suffered its biggest weekly drop since the 2008 global financial crisis on growing fears the fast-spreading coronavirus could push the economy into recession, although stocks regained some ground right at the end of a volatile session.
• Wall Street in coronavirus contingency mode with staff, visitors, regulators February 29, 2020
  Big U.S. banks have been rolling out contingency plans to respond to the global coronavirus outbreak - requiring some staff to work from home, implementing travel restrictions, and talking to regulators about potential stresses.
• United Airlines sharply cuts flights to Asia, cancels investor day February 29, 2020
  United Airlines Holdings Inc said on Friday it was sharply cutting flights to Japan and South Korea, as travelers worried about the coronavirus outbreak slash ticket purchases for those destinations.
• Intesa, UBI line up advisers to face off in takeover battle February 29, 2020
  Intesa Sanpaolo said on Friday it had hired JP Morgan, Morgan Stanley, UBS and local broker Equita SIM to complete a team of advisers led by Mediobanca supporting Italy's biggest retail bank in its takeover offer of rival UBI Banca.