GLOBAL MARKETS: Icahn sells Herbalife shares
Carl Icahn has sold Herbalife stock worth roughly US$552m back to the company
Carl Icahn, who sparred for years with short-seller William Ackman over the future of Herbalife Nutrition, said last week he had sold Herbalife stock worth roughly US$552m back to the company, trimming his stake to 21%. The sale comes about three months after Ackman ended his campaign against the company.
SoftBank joins GM in self-driving cars race
Japan’s SoftBank Group Corp will invest $2.25bn in General Motors’ autonomous vehicle unit Cruise. The deal validates the Detroit car maker’s leadership in self-driving vehicles and sent GM shares up nearly 13%. The move, by SoftBank’s $100bn Vision Fund, is one of the highest-profile, largest investments to date in self-driving technology, an industry that could revolutionise transportation but faces engineering, safety and regulatory challenges as well as scepticism among potential users.