Valeant shares slide on news of probe by U.S. SEC

By Ankur Banerjee and Carl O'Donnell (Reuters) – Shares in Valeant Pharmaceuticals International Inc fell as much as 21 percent on Monday after the drugmaker revealed that it was under investigation by the U.S. Securities and Exchange Commission. “Valeant confirms that it has several ongoing investigations, including investigations by the U.S. Attorney’s Offices for Massachusetts and the Southern District of New York, the SEC, and Congress,” said Laurie Little, a Valeant spokeswoman.

Go here to see the original:
Valeant shares slide on news of probe by U.S. SEC

Red faces, raised voices over late hitch in Foxconn’s Sharp deal

TOKYO/TAIPEI (Reuters) – A late hitch to Foxconn's takeover of Japan's struggling Sharp Corp brought simmering distrust between the two close to boiling point, people with direct knowledge of the matter said. The two companies have eyed each other warily since Foxconn founder and billionaire Terry Gou pulled out of a planned capital tie-up and strategic partnership with Sharp in 2012. Missteps in communication last week, when Sharp's board met and announced a decision to sell a two-thirds stake to the Taiwanese group, ratcheted up tensions, upsetting Gou and causing embarrassment at Sharp.

Original post:
Red faces, raised voices over late hitch in Foxconn’s Sharp deal

U.S. pending home sales hit one-year low; manufacturing weak

Contracts to buy previously owned U.S. homes fell to their lowest level in a year in January amid a persistent shortage of properties for sale, which could slow the housing market ahead of the spring selling season. Other reports on Monday showed factory activity contracting in the Midwest and remaining subdued in Texas this month as the manufacturing sector continued to be buffeted by a strong dollar, weak global demand and spending cuts by energy firms. “The disappointing data tone points to ongoing weakness in the housing and manufacturing sectors,” said Millan Mulraine, deputy chief economist at TD Securities in New York.

See original here: 
U.S. pending home sales hit one-year low; manufacturing weak

Central banks near policy limits but back in focus after G20

FRANKFURT/TOKYO (Reuters) – The widely predicted failure of G20 leaders to agree on bold new steps to reinvigorate the world economy at a meeting in Shanghai this weekend puts the onus firmly back on central bankers. “Monetary policy is extremely accommodative to the point that it may even be counterproductive in terms of negative side effects on banks, policies and growth,” German Finance Minister Wolfgang Schaeuble said at the G20 meeting. “Fiscal as well as monetary policies have reached their limits,” he said.

Read more: 
Central banks near policy limits but back in focus after G20

Post-Dieselgate, Volkswagen retools itself for faster ride

The biggest engineering feat on display when Volkswagen unveils its new concept car on Tuesday will be the team developing it: a post-Dieselgate management system crafted to operate faster, cheaper and with a lighter grip on the wheel. Last year's scandal over falsified diesel emissions tests caused a cull of top managers at Europe's biggest automaker and brought a promise to overhaul the corporate culture. Its concept for the Geneva car show will be the first vehicle the Volkswagen brand develops under a new, decentralized system designed to emulate rival BMW, which has a track record of quickly and efficiently getting new cars to market.

Here is the original post:
Post-Dieselgate, Volkswagen retools itself for faster ride

U.S. urges China to keep moving to a market-oriented exchange rate

U.S. Treasury Secretary Jack Lew said on Sunday that it was critical for China to continue moving toward a more market-oriented exchange rate and clearly communicate its actions to the market. Lew made the remarks during a meeting with Chinese Vice Premier Wang Yang in Beijing, following a G20 finance ministers' summit in Shanghai. Earlier this month, Lew reiterated to Wang the importance of transitioning to a market-determined exchange rate in an orderly and transparent way.

Here is the original post:
U.S. urges China to keep moving to a market-oriented exchange rate

Warren Buffett defends 3G, touts economy in record year for Berkshire

Warren Buffett on Saturday used his annual letter to Berkshire Hathaway Inc shareholders to launch vigorous defenses of an aggressive private equity partner and a maligned mobile home unit, as his conglomerate recorded robust profits. The world's third-richest person and a revered investor, Buffett also injected himself into the contentious 2016 U.S. presidential campaign, lambasting candidates who talk down the nation's economic future as “dead wrong” – an apparent jab at Republicans and frontrunner Donald Trump. Buffett, who is backing Democratic candidate Hillary Clinton, also raised a political issue dear to Democrats in his widely-read letter by calling climate change a “major problem for the planet,” although not one for Berkshire's future.

Go here to see the original:
Warren Buffett defends 3G, touts economy in record year for Berkshire

VW ex-CEO told of defeat device admission weeks before news was public: BamS

Volkswagen's former chief executive Martin Winterkorn was informed that the carmaker had told regulators it was using defeat devices two weeks before the scandal became public, German tabloid Bild am Sonntag reported on Sunday. It said it was in possession of a letter sent by an unnamed manager directly to then-CEO Winterkorn on Sept. 4 that said: “In the conversation on 03.09.2015 with the regulator CARB (California Air Resources Board), the defeat device was admitted.” Volkswagen's U.S. CEO Michael Horn told a U.S. House of Representatives hearing in October the company had told regulators on Sept. 3 it was using defeat devices. A letter pointing to the then-CEO could lend weight to the cases of shareholders planning to sue Volkswagen for compensation for the plunge in its share price, saying VW should have told the public as soon as it became aware.

Read more:
VW ex-CEO told of defeat device admission weeks before news was public: BamS

Disney resets theme park ticket prices for slow, busy times

Walt Disney Co unveiled new single-day ticket prices on Saturday for the company's U.S. theme parks, switching to a three-tiered system that charges visitors more on the year's busiest days and less during typically slower periods. The shift to demand-based pricing is designed to help spread out crowds at Walt Disney World in Florida and at Disneyland Resort in California, Disney said in a blog post. Starting Sunday, a one-day ticket to Walt Disney World's Magic Kingdom will cost $105 on “value” days during slower periods, such as September.

View post: 
Disney resets theme park ticket prices for slow, busy times

After G20 stalemate, focus turns to signs of growth momentum

Investors worried about the risk of a new global recession are hoping that data over the coming week will show that some momentum remains in the world economy, eight years into its slow recovery from the financial crisis. The Group of 20 economies were unable to agree on a joint push for new stimulus measures at a meeting which ended on Saturday, turning attention instead to upcoming business surveys from China, Japan, Europe the United States. Central banks in Europe and Japan may inject a little more stimulus into their economies later in March.

Original post:
After G20 stalemate, focus turns to signs of growth momentum