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U.S. markets recover from steep losses
DETROIT, Oct. 18 (UPI) -- General Motors Corp. is preparing for a possible takeover fight with activist shareholder Kirk Kerkorian, a California investor who owns 9.9 percent of GM.
In the wake of Kerkorian's representative leaving the GM board, an action that followed the collapse of alliance talks with Renault SA-Nissan Motor Co., the Michigan automaker has hired two investment banking firms and changed its bylaws to make it tougher for Kerkorian to elect a slate of directors or put strategic issues to a direct vote of GM stockholders, the Detroit News said Wednesday.
"I don't know if (GM) is expecting an attack, but I would say they are preparing for one," said Peter Henning, a Wayne State University law professor and former enforcement officer at the U.S. Securities and Exchange Commission.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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