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In the latest twist of the Herbalife saga, the multi-level marketing company said it has reached an agreement with billionaire investor Carl Icahn after he increased his stake in the company from 12.8 per cent to 13.6 per cent.
The deal will see Herbalife increase the size of its board and nominate two Icahn representatives.
This time it's different
Junk bond sales are at record highs, and the music will stop when interest rates rise. "Not our problem," say the banks.
Fire sale at RBS
The Royal Bank of Scotland says it will sell a stake in the Citizens Financial Group, cut risky assets and eliminate jobs in an effort to appease regulators and its biggest shareholder, the British government.
Bleeding continues at Man Group
The world's largest publicly traded hedge fund saw $2.7-billion (U.S.) walk out the door in the final quarter of 2012, the sixth quarter of outflows in a row.
Conoco to offload oil patch assets
ConocoPhillips plans to save money by reducing its exposure to higher-cost projects such as the Australia Pacific LNG project and Canada's oil sands. The resulting funds will be invested in shale development, the company's CEO told analysts on Thursday.
'More than two and less than 10'
Sunshine Oilsands Ltd. is in "advanced" talks with "more than two and less than 10" joint-venture partners to boost production to a potential 1 million barrels a day.
Port of Vancouver set to grow
Canada's busiest port may issue debt to help finance the largest expansion in its history, thanks to escalating Asian demand for coal, grain and oil.
(Jody White is the Web Editor for Streetwise.)
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