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Bloomberg Just when it looked like things couldn’t get any worse for the pound, political risks are back on the market’s radar. Sterling is vulnerable to Thursday’s local elections in England, the resurgence of Brexit uncertainties and the resignation of one of Prime Minister Theresa May’s key pro-European allies in government, according to strategists. The currency made a feeble recovery ...

Bloomberg General Motors Co.’s hot-selling new crossovers are padding profit for the largest US automaker amid a costly retooling of truck factories and restructuring of Korean operations. Adjusted earnings fell to $1.43 a share in the first quarter, beating analysts’ average estimate for $1.24. The Chevrolet Equinox and GMC Terrain drove better-than-expected revenue and buoyed GM through downtime at pickup ...

Bloomberg CVS Health Corp. said it’s making progress in the regulatory review of its $68 billion deal to buy health insurer Aetna Inc. after first-quarter earnings came in higher than analysts anticipated. Both CVS and rival Express Scripts Holding Co. are trying to get their mega mergers approved by regulators, as drug middlemen combine with large insurers in the US ...

Bloomberg Xerox Corp.’s top executive and six board members agreed to step down in a victory for Carl Icahn’s battle against the company’s planned $6.1 billion takeover by Fujifilm Holdings Corp. The resignations, which include Chief Executive Officer Jeffrey Jacobson and Chairman Robert Keegan, are part of an agreement with activist investors to settle a lawsuit that will put in ...

At this point, the efficient markets hypothesis (EMH) makes for an easy rhetorical target. Precious few economists and financial professionals are willing to stand up in public anymore and assert that financial markets produce the best estimate of fundamental asset values. A series of enormous bubbles, plus decades of outsized profits for hedge funds like Renaissance Technologies, has turned into ...

Boeing Co. is signaling it won’t take on extra baggage in its pursuit of a bigger services division, but it will still have to pay up to build one. The planemaker acquired KLX Inc. for $63 a share, or about $4.25 billion including debt. The catch is that Boeing is only buying KLX’s aerospace business, which distributes parts and provides ...

In just about two years, Allergan PLC has gone from a pharma darling on the verge of a massively lucrative Pfizer Inc. buyout to something of a pariah. Its stock has fallen 38 percent in the past nine months. Shareholders are reportedly recruiting activists. On its first-quarter earnings call on Monday, Allergan said it is in the midst of an ...

President Donald Trump has made clear his view that the US doesn’t need any more immigrants. The mystery is why a veteran of the hospitality business would be so inhospitable to tourists, traveling executives, students and other visitors. Consider the State Department’s ill-advised plan to impose new screening requirements on the roughly 14 million people who apply each year for ...

From about the beginning of 2017, even skeptics had to admit, India looked to be recovering from a growth slowdown. Most dramatically, in the last two quarters for which data is available, investment in physical capital — which had long been too low for growth to recover — increased by 12 percent and 10 percent, respectively. In the first two ...

Finally. Get used to hearing that word a lot when people talk about the merger of Sprint Corp. and T-Mobile US Inc. For SoftBank Group Corp. and its founder Masayoshi Son, that sigh of relief also needs a rejoinder: now what? In addition to successfully selling his unprofitable US telco, Son this year is on track to list the company’s ...