Alexion to Buy Synageva for $8.4 Billion -- 2nd Update

TODAY: July 7, 2015 PUB DATE: May 6, 2015

By Chelsey Dulaney Alexion Pharmaceuticals Inc. agreed to buy Synageva BioPharma Corp. in a cash-and-stock deal valued at $8.4 billion, paying more than double the market cap for the maker of rare-disease treatments. The acquisition's hefty premium represents the interest ...

Fed's Yellen Says Financial Risks Not Currently Elevated

TODAY: July 7, 2015 PUB DATE: May 6, 2015

Federal Reserve Chairwoman Janet Yellen said Wednesday risks to financial market stability are moderate at the moment although stock market valuations appear somewhat elevated and some bond and loan markets suggest investors may be taking excess risks. Ms. Yellen was ...

Platts Says Jorge Montepeque to Leave at End of 2015

TODAY: July 7, 2015 PUB DATE: May 6, 2015

By Sarah Kent LONDON--Jorge Montepeque, a key architect of the process used to assess the price of the physical Brent oil benchmark, has decided to leave price reporting agency Platts at the end of the year, the company said. Mr. ...

Western Union Denies Talks to Acquire MoneyGram

TODAY: July 7, 2015 PUB DATE: May 6, 2015

Western Union Co. (WU) denied it is in talks to acquire rival money-transfer company MoneyGram International Inc. (MGI). Both stocks had surged late Tuesday on media reports that the companies were in talks to combine, but those gains were pared ...

Thomson Reuters Unveils $1 Billion Stock Buyback Plan

TODAY: July 7, 2015 PUB DATE: May 6, 2015

Thomson Reuters Corp. said it plans to repurchase up to an additional $1 billion of its shares by the end of next year. The news and information service said it has substantially completed a previous $1 billion stock buyback program ...

Michelin Buys Blackcircles.com for GBP50 Million

TODAY: July 7, 2015 PUB DATE: May 6, 2015

By Inti Landauro PARIS--French tire maker Compagnie des Etablissements Michelin (ML.FR) said Wednesday it paid 50 million pounds to buy U.K.-based online tire retailer Blackcircles.com. With this transaction, Michelin accelerated its move to develop a larger online tire business. The ...

Transocean Swings to a Loss on $881 Million in Charges

TODAY: July 7, 2015 PUB DATE: May 6, 2015

By Maria Armental Transocean Ltd. swung to a loss in the first quarter as the offshore oil driller logged more than $800 million in charges related to the downsizing of its fleet in response to lower crude prices. Last quarter, ...

MetLife's Operating Profit Rises 4.9%--Update

TODAY: July 7, 2015 PUB DATE: May 6, 2015

By Leslie Scism MetLife Inc. posted a 4.9% increase in first-quarter operating profit despite a slight decline in revenue, as the life-insurance industry wrestled with ultralow interest rates and companies with global operations were stung by the strong dollar. MetLife, ...

Career Education to Divest Non-Core Colleges, Narrows Loss

TODAY: July 7, 2015 PUB DATE: May 6, 2015

By Angela Chen Career Education Corp. (CECO) reported Wednesday that its first-quarter loss narrowed due to ongoing cost-saving initiatives. Results missed expectations. Separately, the company said it would divest non-core colleges in order to focus on its university group. Illinois-based ...

States Look to Boost Taxes

TODAY: July 7, 2015 PUB DATE: May 6, 2015

By John D. McKinnon And Matthew Dolan About a dozen states--including several led by Republican governors--are considering significant tax increases this year, despite the success of antitax conservatives in the 2014 elections. In the latest installment of the debate, Michigan ...

Groupon Considering More Business Changes in Asia

TODAY: July 7, 2015 PUB DATE: May 6, 2015

Groupon Inc., which is selling a majority stake in its South Korean e-commerce business Ticket Monster, is considering further business changes in Asia as it pushes for double-digit local billings growth in North America, company officials said Tuesday. "We are ...

Kocherlakota Says Fed Shouldn't Raise Rates in 2015

TODAY: July 7, 2015 PUB DATE: May 6, 2015

The Federal Reserve shouldn't raise its benchmark short-term interest rate in 2015, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota reiterated Tuesday. The U.S. central bank "can best achieve its objectives by keeping the fed funds rate target at its ...

China 1Q Trust Assets Grow at Slowest Pace in Four Years

TODAY: July 7, 2015 PUB DATE: May 6, 2015

By Dinny McMahon BEIJING--Assets under management at China's trust companies grew at their slowest pace in more than four years in the first quarter, as Beijing continued to rein in shadow-banking activities. Trust companies had 14.4 trillion yuan ($2.320 trillion) ...

Global Inflation Edges Higher

TODAY: July 7, 2015 PUB DATE: May 6, 2015

The annual rate of inflation across the Group of 20 largest economies increased for the second straight month in March, although it was unchanged at a low level in developed economies. Signs that global inflation may have bottomed out will ...

BMW Profit Growth Lags Jump in Revenue--Update

TODAY: July 7, 2015 PUB DATE: May 6, 2015

By William Boston FRANKFURT-- BMW AG, the German luxury car maker, reported a 4% jump in first-quarter net profit on sharply higher sales, boosted by strong demand in the U.S. and Europe as well as the euro's weakness against the ...

Spain's Gas Natural Earnings Boosted by Chilean Buy

TODAY: July 7, 2015 PUB DATE: May 6, 2015

By Christopher Bjork MADRID--Spain's Gas Natural SDG SA said Wednesday its first-quarter net profit edged higher, as the country's largest gas distributor got a boost from a recent acquisition in Chile. In a regulatory filing, Gas Natural said net profit ...

Poland's Central Bank Leaves Interest Rates Unchanged

TODAY: July 7, 2015 PUB DATE: May 6, 2015

WARSAW--The National Bank of Poland left its interest rates unchanged on Wednesday, in line with expectations and its earlier guidance. The central bank in March cut its main rate to 1.5%, the lowest on record, and said it was unlikely ...

European Stocks Teeter on Greek Uncertainty - 2nd Update

TODAY: July 7, 2015 PUB DATE: May 6, 2015

By Josie Cox European stocks rose Wednesday, spurred by some robust corporate earnings and strong data on eurozone growth from surveys of purchasing managers. The Stoxx Europe 600, having sold off sharply Tuesday, was marginally higher by early afternoon, while ...