*Chris Hohn writes letter to board members of firm. In a letter to the executive and supervisory boards, seen by Reuters, Chris Hohn, founder of the $10 billion London- based hedge fund TCI, said paying such large rewards when the company performs poorly was exacerbating its problems. Despite setting aside $18 billion to cover legal and compensation costs from the... » Read More
NEW YORK-- A former Goldman Sachs and Procter& Gamble Co. board member was sentenced to two years in prison Wednesday, culminating a spectacular fall from grace for a man whose good deeds worldwide brought him leniency after he was convicted of feeding inside information about board dealings to a billionaire hedge fund owner who was his friend.
The market began to fade after 2 p.m., when the Federal Reserve repeated its assessment that the U.S. economy still needed help to increase growth and lower unemployment. Netflix plunged 12 percent after slashing its target for full-year subscriber growth. About four stocks fell for every three that rose on the New York Stock Exchange.
LOS ANGELES-- An audit of the U.S. Department of Education's division overseeing hundreds of millions of dollars in charter school funding has criticized the office for failing to properly monitor how states spend the money.
ST. LOUIS-- Arch Coal Inc., one of the world's biggest coal producers, is scheduled to report earnings for the third quarter before the market opens on Friday. Arch's latest earnings may reflect its June announcement that it was laying off about 750 workers in the Kentucky, Virginia and West Virginia coalfields.
SAN DIEGO-- Medical device maker NuVasive Inc. said Wednesday that it turned a profit in the third quarter, and its shares bounced back as its earnings topped estimates. NuVasive said its revenue grew 12 percent to $148.4 million. NuVasive reported net income of $2.4 million, or 5 cents per share.
Oct 24- Thermo Fisher Scientific raised its full-year forecast for the second time this year as the world's largest laboratory equipment maker benefited from its presence in Asia, even as the weak U.S. and European economies dragged on its competitors.
BERKELEY, Calif.-- Shares of Xoma Corp. slid Wednesday after the biotechnology company said that it will sell 13.3 million shares of its common stock at $3 per share, a 7 percent discount to its closing price of $3.22 on Tuesday. Xoma anticipates proceeds of roughly $36.9 million from the offering.
JERUSALEM, Oct 24- Mobileye, which makes technology to help drivers, expects sales to more than double every year for the next few years as car manufacturers look to offer more safety features and self-drive cars gain in popularity.
COLUMBUS, Ohio-- Ohio is the appropriate forum for an investors' lawsuit seeking to collect $100 million on three-decade-old Venezuelan promissory notes, despite concerns over document translation and witness transportation, a federal judge ruled.
John Kasich warned Wednesday of an economic slowdown happening in the swing state ahead the presidential election, even as Huntington bank announced it is bringing 250 jobs to Ohio.
COLUMBIA, Md.-- W.R. Grace& Co.' s third quarter earnings fell 7 percent, as foreign exchange rates and weaker demand in developed economies hurt the chemical maker's revenue. The Columbia, Md., company said Wednesday it earned $75.5 million, or 99 cents per share, in the three months that ended Sept. 30.
BILLERICA, Mass.-- Entegris Inc. said Wednesday that its chief operating officer will become CEO next month as its chief executive steps aside. Gideon Argov, Entegris' current CEO, will step down Nov. 27, when Loy will officially become CEO.
Losses in the euro were limited after Greece's finance minister said Athens had been given additional time by international lenders to impose its austerity cuts, an assertion played down by leading EU officials.
MONTCLAIR, N.J.-- Across New Jersey, most communities approached about hosting one of the state's first legal medical marijuana dispensaries in out-of-the-way industrial zones have just said no, after outpourings of public opposition.
AUSTIN, Texas-- An embattled $3 billion cancer-fighting fund in Texas will recover from a controversy that led two Nobel laureates and others to resign over allegations that politics trumped science in spending decisions, state officials told stakeholders Wednesday.
*Citi, Yahoo, AIG examples show more aggressive boards. NEW YORK, Oct 24- In the summer of 2011, Yahoo Inc's board decided enough was enough. So, the board held a final meeting in Los Angeles, away from Yahoo's Silicon Valley headquarters, to review the company's progress, a source familiar with the matter said.
NEW YORK-- Dice Holding Inc.' s shares soared in trading Wednesday after the career website company reported that its third-quarter net income jumped 18 percent and issued a better-than-expected outlook for the year.
THE NEWS: The child abuse scandal that has enveloped one of Britain's most recognized news organizations is now hitting one of America's, as the incoming president of The New York Times is on the defensive about his final days as head of the BBC.
*Preliminary hearing in High Court on Monday. LONDON, Oct 24- Barclays will face on Monday the first claim for damages stemming from manipulation of the Libor interest rate in a landmark case before Britain's High Court that could have major implications for all UK banks.