The retailer Macy’s rejected a $5.8 billion takeover bid late Sunday that valued the struggling department store chain at roughly 20 percent above its closing share price on Friday, but suggested it was “open to opportunities.” The bidders, Arkhouse Management and Brigade Capital, are seeking to acquire Macy’s stock they do not already own at…
Bill Ackman’s Pershing Square Capital Management has reclaimed a spot on the list of the world’s 20 best-performing hedge funds nine years after falling out of the ranking. Pershing Square claimed the 20th spot after edging out Louis Bacon’s Moore Capital Management, according to research by LCH Investments. LCH said that the New York-based fund,…
The Federal Aviation Administration recommended late Sunday night that airlines begin visual inspections of door plugs installed on Boeing 737-900ER planes, the second Boeing model to come under scrutiny this month. The F.A.A. said the plane has the same door plug design as the 737 Max 9, which had 171 jets from its fleet grounded…
Morgan Stanley’s board awarded James Gorman a handsome 17% raise raise in 2023, making his total compensation for his last year as the bank’s chief executive $37 million. On top of his $1.5 million base salary, Gorman received a cash bonus of just under $9 million, according to a regulatory filing Friday reviewed by Bloomberg….
It’s down to Trump and Haley now The effort to pick anyone but Donald Trump as the Republican presidential nominee took another big, if expected, blow on Sunday when Ron DeSantis dropped out of the race and endorsed the former president. (Other former hopefuls, including Vivek Ramaswamy and Tim Scott, have also endorsed Trump.) The…
Three years ago, dozens of big companies formed a coalition and declared an ambitious goal: to lift one million Black workers into good-paying jobs over the next 10 years, by hiring or promoting them. The resulting nonprofit, OneTen, was created amid a crescendo of calls to address racial injustice after George Floyd’s murder in 2020….
Over the past two years, as Ishan Bhabha and his colleagues at the law firm Jenner & Block prepared briefs for the affirmative action case the Supreme Court ruled on last year, Mr. Bhabha had a realization: If higher education institutions like Harvard were the first target of litigation about diversity, equity and inclusion, America’s…
In-N-Out Burger’s only location in Oakland is closing after the cherished fast-food joint decided it could no longer risk the safety of fed-up workers and patrons in the city plagued by recent crime. The location will shut its doors in March — despite the burger spot turning a profit — because of the constant crime…
Arkhouse Management and its partner Brigade Capital Management on Dec. 1 made a $5.8 billion proposal to take department store chain Macy’s private, Arkhouse confirmed on Sunday. Arkhouse Management, a real-estate-focused investing firm, and Brigade Capital Management, a global asset manager, submitted a proposal to acquire the Macy’s stock they don’t already own for $21…
Exxon Mobil Corp on Sunday filed a complaint in a Texas court seeking to prevent a climate proposal by activist investors from going to a vote during the company’s shareholder meeting in May. This is the first time Exxon is seeking to exclude a shareholder proposal by filing a complaint in court. It says the…
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