June 2008

Billionaire investor Carl Icahn says he will seek to remove Jerry Yang as chief executive of Yahoo! if he succeeds in a proxy battle against the company over its failure to reach a deal with Microsoft Corp., the Wall Street Journal reports. Icahn has proposed an alternate slate of directors for Yahoo's board, but has yet to directly target Yang, the paper says. "It's no longer a mystery to me ... read more

The possibility that Lehman Brothers Holdings may report its first quarterly loss since going public 14 years ago, when it reports its quarterly results the week of June 16, has dropped its stock to a new 52-week low, down to $20.25 from its high of $82.05. To figure out what's at stake and where the potential future writedowns could come from at Lehman and five other major firms, watch ... read more

U.S. Treasury Secretary Henry Paulson is meeting today with the world's largest sovereign wealth fund, the $900b Abu Dhabi Investment Authority, in a bid to get more oil riches from the Middle East invested in US companies socked hard by the housing and credit crisis as well as the US economic downturn. But while Paulson vows that America will keep its doors ompen to investment from sovereign ... read more