Jonathan Fickies/Bloomberg News
The hedge fund manager William A. Ackman
J.C. Penney to Give Board Seats to Pershing and Vornado
By MICHAEL J. DE LA MERCEDWilliam A. Ackman of Pershing Square and Steven Roth of Vornado are expected to be named to J.C. Penney’s board as soon as Monday.
Fabrice Coffrini/Agence France-Presse — Getty Images
Klaus Schwab, founder and executive chairman of the World Economic Forum.
At Davos, Long List of Problems Awaits World Leaders
By JACK EWINGLeaders in business, politics and academia from around the world will gather in Davos, Switzerland, this week to try to rescue the planet. It’s a safe bet that, for the 41st year in a row, they will fail.
Sanofi Extends Tender Offer as Talks Drag On
Sanofi-Aventis said Monday that its $69 per share tender offer to buy all outstanding common stock of the biotech firm had been extended until February 15.
Novartis Buys U.S. Cancer Lab for $470 Million
Novartis, the Swiss pharmaceutical giant, said Monday that it had agreed to buy Genoptix, an American oncology laboratory, for $470 million in cash.
Tata Rep Backs Rio Tinto Bid for Riversdale
The board of Riversdale Mining said Monday that it had unanimously approved the $3.9 billion bid made by Rio Tinto last month, a turnaround for Riversdale’s largest shareholder, Tata Steel, whose representative voted against the move in December.
S.E.C. Study Recommends More Oversight of Brokers
Commissioners did not vote on the recommendation that a higher standard of fiduciary duty be applied.
Mortgage Giants Leave Legal Bills to the Taxpayers
Since the government took over Fannie Mae and Freddie Mac, taxpayers have spent more than $160 million defending their former top executives in fraud lawsuits.
Morgan Stanley Banker Is Said to Pass Along Illegal Tip
Kamal Ahmed, a banker in Morgan Stanley’s office in Menlo Park, Calif., is said to have passed along an illegal tip about a pending deal by Advanced Micro Devices.
2 Top Package Companies to Merge
The $3.5 billion deal, with RockTenn buying Smurfit-Stone, will combine two of the biggest names in packaging.
Sara Lee Weighs Future After Receiving Takeover Interest
The maker of Jimmy Dean sausages has received a preliminary bid from a group of buyout firms led by Apollo Global Management, and is expected to receive one from JBS of Brazil and the Blackstone Group.
Andrew Harrer/Bloomberg
Big Paydays Return With Big Profits at Wall St. Banks
As bonus checks are being doled out at the big banks, it is clear that 2010 is shaping up to be a very good year — although perhaps not as good as 2009.
Morgan Stanley Chief to Make Less Than in 2009
A year after taking the top job, James P. Gorman is getting a pay package that will not exceed $15 million.
Jin Lee/BloombergRaj RajaratnamWho Is the Morgan Stanley Banker in the Galleon Case?
Prosecutors say in a redacted letter than an unidentified banker leaked information on a $5.4 billion acquisition by Advanced Micro Devices in 2006.
Citi Gives Pandit a Raise
Days after the bank reported an annual profit, the board awards the C.E.O. an annual base salary of $1.75 million, up from a symbolic $1 a year.
Noah Berger/Bloomberg News
Mark Zuckerberg, Facebook’s founder and chief executive
Facebook Completes $1.5 Billion Fund-Raising Round
Facebook confirmed that it has raised $1.5 billion in financing from Goldman Sachs and Russia’s Digital Sky Technologies, and that it plans to file public financial statements beginning next year.
