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UPDATE 1-Paulson gives up opposition to Callon-Carrizo deal

Hedge fund Paulson & Co, a top shareholder in Callon Petroleum Co, said on Monday it would not oppose the U.S. shale producer’s reduced buyout offer for Carrizo Oil & Gas Inc, while cutting its stake in the company. Billionaire investor John Paulson’s hedge fund, which did not give any details on its latest shareholding, had a 9.5% stake in Callon as of Nov. 6. Paulson had earlier opposed the deal saying that a 25% premium for the acquisition was too steep and that Callon would lose its position as a Permian pure play by acquiring a company …read more […]

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HP down 5% after Xerox bid rejection, counter offer hints

HP stock has gained about 10% and those of Xerox around 7% since Nov. 5, when the first news reports surfaced on Xerox’s $33.5 billion cash-and-stock offer to buy bigger rival HP. The printer industry has been in decline for years as growth in purely electronic communication cuts the need for printed letters and documentation. …read more […]

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Novartis shifts Shanghai's focus from research to early development

Novartis is halting early-stage research in Shanghai and shifting the site’s focus to commercial development three years after the Swiss drugmaker christened the new $1 billion campus as its Chinese drug discovery hub. About 150 of some 1,300 Shanghai staffers will lose their research jobs, while Novartis plans to add 340 new positions over the next four years to develop up-and-coming drug prospects. The changes, first reported by website Fierce Biotech, were confirmed by Novartis. …read more […]

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Market Morning: Chinese Army in Hong Kong, Boeing Walks Back Comments, Kraft Heinz Cheese Problems

China Edges Into Hong Kong to “Clean Up Streets” The Chinese have invaded Hong Kong. So far it’s just to clean up the streets, but their presence on the island is raising some eyebrows as to what Beijing’s real intentions are in bringing Chinese soldiers in to participate in the situation. The soldiers, part of […]The post Market Morning: Chinese Army in Hong Kong, Boeing Walks Back Comments, Kraft Heinz Cheese Problems appeared first on Market Exclusive. …read more […]

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Parts with passports: how free trade drives GM's engines

Long before the pistons for General Motors Co V-6 engines reach the U.S. No. 1 automaker’s Romulus, Michigan plant, they are seasoned international travelers. The parts make four international border crossings in all, without a single tariff levied. “They already have their passports,” said Jim Bovenzi, GM’s executive director of global supply chain on a recent tour of the Romulus plant. …read more […]

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Emirates Pares Back Wide-Body Airbus Order Amid Fleet Review

(Bloomberg) — Emirates finalized an order for 50 Airbus SE planes, shrinking a tentative commitment made earlier in the year after the Gulf carrier reviewed its fleet strategy and aired concerns about aircraft performance.Emirates will purchase A350-900 wide-body jets worth $16 billion at list prices, Chairman Sheikh Ahmed Bin Saeed Al Maktoum said Monday at the Dubai Airshow. While that’s up from the 30 it agreed to take in February, the firm deal replaces an outline that also included 40 A330neos valued at $12 billion.In all, the Airbus order shrank by about $5.5 billion, before factoring in customary discounts. Deliveries …read more […]