Pinnacle Entertainment Inc. rose the most in five months after activist investor Orange Capital LLC disclosed a 4.5 percent stake and urged the casino owner to spin off its properties into a real estate investment trust.
Charles and David Koch, the billionaire brothers who run Wichita, Kansas-based Koch Industries Inc., added $1.3 billion to their collective fortune yesterday on reports that U.S. industrial production gained more than forecast. The surge elevated their net worth to more than $100 billion, according to the Bloomberg Billionaires Index.
Brian T. Moynihan, who has compared cleaning up Bank of America Corp.’s mortgage mess to lugging a backpack up a mountain, today posted his fourth quarterly loss since he became chief executive officer.
For about two years, General Motors Co. engineer Brian Stouffer tried to figure out why faulty ignition switches now linked to at least 13 deaths were causing cars to stall. His quest was thwarted by uncooperative colleagues, inaccurate data and a rotating cast of managers.