Hochtief AG , Germany’s largest publicly traded builder, said pretax profit may fall 50 percent this year after its Australian unit predicted a loss and said it would sell stock. Hochtief shares fell the most in two years.
Rupert Murdoch’s News Corp . says the 7.8 billion-pound ($11.6 billion) bid for British Sky Broadcasting Plc is “full and fair.” Investors and analysts say even a 14 percent increase would be the “bare minimum.”
Lansdowne Partners Ltd. and Odey European Inc., two of the U.K.’s biggest hedge funds, started 2011 bullish on stocks. The shared view has led both firms to have one of their toughest years managing money.
Encana Corp., Canada’s largest natural-gas producer by volume, said the U.S. Environmental Protection Agency made errors when it reported that chemicals used in extracting gas through hydraulic fracturing were found in a drinking-water aquifer in Wyoming.
Lansdowne Partners Ltd., the biggest hedge fund in Europe that bets on stocks, bought shares of Bank of America Corp. in the second quarter, while reducing its stakes in Wells Fargo & Co. and JPMorgan Chase & Co.
Aaron Burr served as third vice president of the U.S. under Thomas Jefferson, who dropped him from the ticket after the first term ended in 1805. Two years later, at Jefferson’s insistence, Burr was tried for treason.
Crispin Odey , whose Odey European Inc. hedge fund has gained about 8 percent this year, said the global economic recovery will drive stock prices higher this year, as long as central bankers don’t succumb to demands that they increase interest rates to fend off inflation.