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  • NEW YORK, Nov 21- Aereo Inc, the online video streaming company backed by media mogul Barry Diller, has filed for bankruptcy protection. In a filing with the U.S. Bankruptcy Court in New York, Chief Financial Officer Ramon Rivera said getting protection from creditors should provide "necessary breathing room" for Aereo to sell its assets, recapitalize or...

  • UPDATE 2-Dow Chemical, Dan Loeb settle board debate Friday, 21 Nov 2014 | 1:10 PM ET

    Nov 21- Dow Chemical Co averted a proxy fight with Dan Loeb's hedge fund, Third Point LLC, by agreeing to add four independent directors to its board, sending its shares up as much as 4.5 percent. The company has agreed to add to the board two Third Point nominees- former Foster Wheeler AG CEO Raymond Milchovich and Steve Miller, the non-executive chairman of AIG.

  • Nov 21- Dow Chemical Co said it would add four independent directors to its board as part of an agreement with Daniel Loeb's hedge fund, Third Point LLC, avoiding a proxy battle. The $17.5 billion hedge fund was considering a proxy contest after negotiations with Dow over board seats broke down, Reuters had reported on Thursday. The fund is known for pushing...

  • UPDATE 2-Aereo files for bankruptcy Friday, 21 Nov 2014 | 9:41 AM ET

    NEW YORK, Nov 21- Aereo Inc, the video streaming company backed by media mogul Barry Diller, has filed for bankruptcy protection. Aereo Chief Executive Officer Chet Kanojia said the decision created "regulatory and legal uncertainty" that proved insurmountable for the New York- based company, which is privately held. Lawton Bloom, a principal at Argus Management...

  • Nov 21- Dow Chemical Co said it would add four independent directors to its board as part of an agreement with hedge fund Third Point LLC. The four directors will be included in Dow's nominees for election at the 2015 annual meeting. Reuters reported earlier this week that Third Point was considering a proxy contest after negotiations over board seats with the...

  • Nov 21- Sysco Corp, the biggest U.S. food distributor, is in advanced talks to sell some assets to a food company owned by Blackstone Group in order to win regulatory approval for its acquisition of US Foods Inc, the New York Post reported, citing sources. Once Sysco strikes a deal to divest some assets, the Federal Trade Commission is expected to clear the acquisition,...

  • NEW YORK, Nov 20- William Ruprecht, the long-serving chief executive of Sotheby's, is stepping down, the centuries-old auction house said on Thursday, roughly a year after activist investors including Daniel Loeb began demanding big changes. Activist investors had called for big changes at Sotheby's including the sale of its headquarters on the upper East...

  • UPDATE 1-Hertz Global names John Tague as CEO Thursday, 20 Nov 2014 | 5:52 PM ET

    Nov 20- U.S. car rental company Hertz Global Holdings Inc named John Tague as chief executive, overlooking a candidate put forward by activist investor Jana Partners. Hertz had formed a search committee including two independent directors nominated by Icahn to find a replacement for Mark Frissora, who resigned in September. The Committee and the Board...

  • Hertz Global names John Tague as CEO Thursday, 20 Nov 2014 | 5:06 PM ET

    Nov 20- U.S. car rental company Hertz Global Holdings Inc named John Tague, former chief operating officer of United Airlines Inc, as its chief executive officer. Activist investor Jana Partners LLC, which owns an 8.3 percent stake in the company, had pushed for Dollar Thrifty CEO Scott Thompson as a candidate for the top job at Hertz. Hertz has owned up to a string of...

  • China wants to build the world a railway Thursday, 20 Nov 2014 | 2:29 PM ET
    A construction site of the Lagos Rail Mass Transit system in Nigeria.

    With its domestic economy cooling, China is investing heavily outside its borders in multibillion dollar infrastructure projects.

  • *Arizona says "hundreds of thousands" put at risk. Nov 20- In the first lawsuit brought by a state against General Motors Co over recalls relating to a defective ignition switch, Arizona has accused the company of putting the public at risk by concealing safety issues and delaying the recalls. Documents produced to U.S. Congress and federal safety regulators...

  • Corinthian Colleges to sell 56 campuses to ECMC Group Thursday, 20 Nov 2014 | 10:25 AM ET

    Nov 20- Corinthian Colleges Inc said it would sell 56 campuses under its Everest and WyoTech brands to non-profit education provider ECMC Group Inc as part of an agreement with the U.S. education department. The sale of the assets will raise $24 million, half of which will go to the education department under a deal Corinthian signed with the department in July in...

  • Nov 20- A U.S. court has denied a request by Indian drugmaker Ranbaxy Laboratories Ltd to stop competitors from launching copies of AstraZeneca Plc's heartburn pill Nexium and Roche's antiviral, a court filing showed. Ranbaxy had filed a lawsuit against the U.S. Food and Drug Administration last week for revoking tentative approvals it gave the company to make...

  • Nov 20- A U.S. court has denied a request by Indian drugmaker Ranbaxy Laboratories Ltd to stop competitors from launching copies of AstraZeneca Plc's heartburn pill Nexium and Roche's antiviral Valcyte, a court filing showed. Ranbaxy had sought the restraining order against Dr Reddy's Laboratories and U.S. firm Endo International Plc in a lawsuit it filed...

  • Caesars, creditors consider turning unit into REIT Wednesday, 19 Nov 2014 | 6:14 PM ET

    Caesars Entertainment proposed a restructure plan that would the debt of its largest unit into a real estate investment trust.

  • Hertz said in June it would restate results for 2011 due to accounting errors and would review 2012 and 2013 statements. Hertz said on Friday the errors would reduce its attributable net income by about $87 million for the three years. Hertz reported preliminary revenue of $3.12 billion for the third quarter ended Sept. 30.

  • Geron sells last drug in pipeline to J&J unit Thursday, 13 Nov 2014 | 6:27 PM ET

    Nov 13- Geron Corp licensed its cancer compound, the last in its pipeline, to a unit of Johnson& Johnson for up to $935 million, sending its shares up as much as 33 percent in extended trading. The license deal comes as a welcome break to the company, which has seen its stock price drop from a high of $71.69 in 2000 to $2.31 on Thursday. If successful, imetelstat would...

  • Reddit CEO Wong resigns, co-founder Ohanian to return Thursday, 13 Nov 2014 | 4:38 PM ET

    Nov 13- Social news hub Reddit said Chief Executive Yishan Wong had resigned and that co-founder Alexis Ohanian would return as full-time executive chairman. Ellen Pao, Reddit's business and partnerships strategist, will serve as interim chief executive, the company said in its blog. Reddit investor Sam Altman said in a blog post that Wong resigned last week...

  • Starboard-controlled Darden board scraps poison pill Thursday, 13 Nov 2014 | 11:39 AM ET

    Nov 13- Darden Restaurants Inc said it would revise management pay, ditch its poison pill and make it easier for shareholders to call special meetings as activist investor Starboard Value LP puts its stamp on the owner of the Olive Garden restaurant chain. The latest changes were what Starboard had campaigned for in its months-long battle with the...

  • Why China talks tough but then cooperates: Hormats Wednesday, 12 Nov 2014 | 11:24 AM ET
    Robert Hormats, Under Secretary, Economic Growth, Energy and the Environment.

    Chinese leaders use economic nationalism at home in order to gain support and get the leeway they need to cut deals with trade partners, Robert Hormats said.