What's News: Business & Finance -- WSJ

03/01/18 02:47 AM EST

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (March 1, 2018).

Pershing Square is ending its crusade against Herbalife. The company's stock, which activist investor Ackman said would fall to zero, hit a new high.

Ackman's fund has taken a stake in United Technologies, joining other activists in the industrial sector.

The SEC has issued dozens of subpoenas and information requests to tech firms and advisers in the cryptocurrency market.

Spotify cemented plans for its IPO in a filing that revealed sharp sales growth but ballooning losses at the music-streaming firm.

Bank of America fired two employees as it expands a probe of potential sexual misconduct in its prime brokerage unit.

U.S. stocks fell as investors weighed the impact of higher rates on the market. The Dow slid 380.83 points, or 1.5%, to 25029.20.

The U.S. economy rose at a 2.5% annual rate in the fourth quarter, slightly lower than initially estimated.

American rejected aspects of expansion plans for Chicago's O'Hare airport, saying they favor United.

Bayer said it is preparing to sell more assets to win antitrust approval for its purchase of Monsanto.

Deloitte agreed to settle allegations that it failed to head off fraud at mortgage company Taylor Bean.

China's Baidu filed for an IPO in the U.S. of its iQiyi video-streaming unit.


(END) Dow Jones Newswires

March 01, 2018 02:47 ET (07:47 GMT)

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