Twitter has named former Goldman Sachs Group banker Anthony Noto as chief financial officer. Noto replaces Mike Gupta, who is assuming the role of senior vice-president of strategic investments. Noto was head banker on Twitter?s initial public offering in November, and left Goldman Sachs in May to join hedge-fund firm Coatue Management LLC. The changes come three weeks after Ali Rowghani resigned as Twitter?s chief operating officer.
AstraZeneca CEO spends $3.4 million on shares
AstraZeneca?s chief executive has spent ?2 million ($3.40 million) on shares in the drugmaker, marking a vote of confidence in its prospects after the collapse of a $118-billion takeover bid by Pfizer. The British group on Tuesday said Pascal Soriot purchased 46,200 AstraZeneca shares for ?43.45 each on June 30. Soriot had a beneficial interest in 151,581 shares at the end of 2013, the firm?s annual report said.
Chrysler adds 696,000 vehicles to ignition recall
Chrysler says it?s adding about 696,000 minivans and SUVs to a 2011 ignition-switch recall. The latest recall covers some Dodge Journey SUVs and Chrysler Town & Country and Dodge Caravan minivans made between 2007 and 2009. But the National Highway Traffic Safety Administration says the recall doesn?t address its concerns about the switch problem stopping air bags from inflating in a crash. Chrysler recalled 196,000 Journeys, Caravans and Town & Countrys in March 2011.
AirAsia, Rakuten team up for Japan budget airline
AirAsia on Tuesday said it would set
up a low-cost airline with Japan?s biggest online retailer, Rakuten, and other firms, marking the budget carrier?s second
attempt to tap one of Asia?s lucrative air-travel markets. AirAsia Japan will start operations in about a year with a five-aircraft fleet, its CEO Yoshinori Odagiri said The airline will ply on domestic and international routes, but there?s no decision on the airport it will be based out of. Rakuten will own an 18% stake in the new airline, while Noevir Holdings, which owns an aircraft leasing business, will own 9%.
KKR, TPG said to explore $5-bn bids for Americana
Private-equity firms KKR and TPG Capital are among groups examining bids for a majority stake in Kuwait Foods, the Middle Eastern food manufacturer and outlet operator known as Americana, said people familiar with the matter. The buyout firms are among at least six groups exploring the purchase of Americana from the biggest shareholder, the Al-Kharafi family, said the people, who wished not to be named. Other bidders said to be interested in the sale, which could value the Kuwaiti-listed company at about $5 billion, include CVC Capital Partners and Advent International.
US home prices rose more slowly in May
US home prices rose 8.8% in May compared with a year earlier. However, data provider CoreLogic said Tuesday, the pace of gains has slowed as more homes have come
onto the market. On a month-to-month
basis, prices rose 1.2% from April to May. Prices increased the most in Hawaii, California and Nevada.
