IntercontinentalExchange Incoporated, which is in the process of buying NYSE Euronext for $8.2 billion, reported a 7 percent rise in second quarter profit, helped by higher energy futures volumes.
Amazon CEO Jeff Bezos is paying $250 million to buy the Washington Post and even he doesn't seem to know why. Bezos actually copped to his lack of a plan in a somewhat rambling letter to Post employees. "There is no map and charting a path won't be easy," Bezos confessed. "Our touchstone will be readers -understanding what they care about... and working backwards from there."
Activist hedge fund TCI has written to EADS' chief executive demanding the aerospace company sell its stake in Dassault Aviation , maker of the Rafale fighter jet, saying the $5.3 billion holding was "a poor use of capital" and the proceeds should be given to shareholders. The move is the first time a shareholder has questioned the group's strategy since its corporate governance change in April, and shows how EADS is increasingly facing market pressures.