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NEW YORK-- Shares of Forest Laboratories Inc. rose to a year high Thursday after the drugmaker said Howard Solomon, its CEO for 36 years, will retire at the end of 2013..
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NEW YORK, May 23- Lawyers for SAC Capital Advisors called a meeting with U.S. prosecutors and FBI agents in April to argue that there should be no insider trading charges filed against the $15 billion hedge fund or its founder, Steven A. Cohen, according to sources familiar with the matter. A lawyer for SAC Capital did not respond to a request for comment.
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NEW YORK-- Forest Laboratories Inc. said Thursday that longtime executive Howard Solomon will retire as president and CEO at the end of 2013..
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MOSCOW-- Russia's deputy prime minister said Thursday that Rosneft's CEO has assured him the interests of disgruntled minority shareholders in oil firm TNK-BP would be respected. TNK-BP, Russia's third-largest oil company, was taken over by Rosneft last year.
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Every parent should discuss financial matters with their children at some point, with CNBC's Robert Frank.
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Every spring hundreds of yachts migrate from the Caribbean to the Mediterranean and some of them do it by boat, reports CNBC's Robert Frank. (1:00)
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A growing number of companies are offering "yacht shipping" services, where yachts are loaded and carried on giant cargo ships to distant locations.
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Survey after survey shows that the wealthy are back to pre-crisis boom years when it comes to their outlook for their own finances, their investments and their retirements. But many of them are still sitting on lots of cash.
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*Sony board to assess proposal to spin off entertainment arm. Struggling electronics giant Sony Corp, though, with more foreign and fewer bank shareholders, may prove something of an exception.
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*Sony cuts 2014-15 camera sales fcast to 1.3 trln yen from 1.5 trln. Third Point's "proposal is one that affects a core part of Sony's business and the direction of our management, so the Sony board will give it thorough consideration before replying to Mr.
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*Sony jumps on report of assessing spin-off proposal. TOKYO, May 22- The Nikkei average climbed 1.6 percent to a fresh 5-1/ 2- year high on Wednesday, spurred on by the Bank of Japan's optimism about the economic outlook, while Sony Corp surged on reports it may consider a proposal to spin off its entertainment assets.
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May 22- Foreign banks that once treated Russia as an undiscovered country where easy money could be made are now finding it a cut-throat market tougher than some bargained for.
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MOSCOW, May 22- Foreign banks that once treated Russia as virgin land where easy money could be made are now finding it a cut-throat market tougher than some bargained for.
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*Nikkei rises 1.2 pct, Topix up 0.7 pct in active trade. *Sony jumps on report of assessing spin-off proposal.
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*Sony jumps on report of assessing spin-off proposal. TOKYO, May 22- Japan's Nikkei average climbed to a 5-1/ 2- year high on Wednesday, ahead of the outcome of the Bank of Japan meeting, with Sony Corp surging on reports it is considering evaluating a proposal to spin off entertainment assets.
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Struggling electronics giant Sony Corp, though, with more foreign and fewer bank shareholders, may prove something of an exception. That's the hope, at least, of Californian billionaire Daniel Loeb, whose Third Point hedge fund has built up a more than 6 percent stake in Sony, making it the group's biggest stockholder.
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DETROIT, May 21- A boutique carmaker led by former General Motors Co executive Bob Lutz and China's largest auto parts supplier made an offer this month to buy cash-strapped "green" car company Fisker Automotive, people familiar with the matter said. VL Automotive and China's Wanxiang Group are looking to gain control of Fisker through a prepackaged bankruptcy.
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SAO PAULO, May 21- Spanish telecoms group Telefonica SA has put on hold plans to publicly list its Latin America unit, a senior executive said on Tuesday, but an IPO could be ready within a few months if the need arose.
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Struggling electronics giant Sony Corp, though, with more foreign and fewer bank shareholders, may prove something of an exception. That's the hope, at least, of Californian billionaire Daniel Loeb, whose Third Point hedge fund has built up a more than 6 percent stake in Sony, making it the group's biggest stockholder.
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May 22- Sony Corp is considering evaluating a proposal from top shareholder Third Point LLC to spin off part of its movie and music business, Japanese daily Nikkei reported. Sony's U.S. listed shares rose 9 percent on Tuesday on the New York Stock Exchange.