As part of a $1.3-billion investment in five US plants, General Motors (GM) is pouring in $600 million in its oldest assembly plant in Flint, Michigan, to set up a state-of-the-art paint facility and other upgrades.
Sectors
Boeing Co increases company dividend, authorizes $10 billion share repurchase
Boeing Co has increased its quarterly dividend from $0.485 cents a share to $0.73 cents and have authorized a new $10 billion share repurchase in the next two to three years, Reuters reported.
Ayala takes a part of Mitsubishi's interest in Manila Water
Philippine conglomerate Ayala Corp has bought 140 million common shares of Mitsubishi Corp's equity in Manila Water Company Inc for PHP2.8 billion, according to an emailed statement.
Clean audit on Herbalife set back Ackman's pyramid claim
Despite getting clearance from accounting firm PricewaterhouseCoopers LLP regarding its fiscal statements for the last three years, activist investor Bill Ackman appeared to be not convinced that Herbalife Ltd is not operating a pyramid scheme.
Manulife purchases first office building to bet on demand
Manulife Financial Corp bought a 21-story office building in New York's financial district from Mitsui Fudosan Co in a deal worth $166.5 million to capitalize on growing demand, Bloomberg reported.
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UK-based lender Barclays denied allegations that it manipulated electricity prices in California. It asked the the court to stop the US Federal Energy Regulatory Commission from collecting fines.
Canadian dairy firm Saputo Inc, following a probe by Australia's Takeover Panel, said that it will raise and extend its takeover offer for Warrnambool Cheese and Butter Factory Holdings Co.
Virginia-based business development company Gladstone Capital Corporation invested $5.5 million in debt and equity to acquire Minnesota-based steel container supplier Behrens Manufacturing LL, with the participation of co-investor Gladstone Investment Corporation.
US District Judge Robert Sweet ruled that Nasdaq OMX Group Inc needs to face the cases filed against it by investors who claimed that the exchange platform was responsible for the bungled Facebook IPO, Reuters reported.
The Delaware Supreme Court on Monday dismissed Cooper Tire & Rubber Company's appeal against an earlier court ruling favoring Indian tire maker Apollo Tyres Ltd. The two companies went on trial in November over the stalled merger deal.
US antitrust regulators gave the green light to Gannett Co. Inc.'s $1.5 billion purchase of Belo Corporation as long as the deal excludes St. Louis television station KMOV-TV.
Australian natural gas giant APA Group entered an agreement to acquire the rest of distribution firm Envestra Ltd after increasing its offer to around AU$1.4 billion ($1.3 billion).
Shareholders of Italian telecom company Telecom Italia are were said to vote this week on whether or not to oust its current board. Rebel investor Findim Group on Monday proposed candidates for Telecom Italia's new board.
Texas-based sales analytics firm PROS wants to boost its price-recommendation capabilities by acquiring San Francisco-based predictive analytics company SignalDemand in a deal valued at $13.5 million.
