Reuters Business Today: March 14, 2017

Click to View in Browser Tuesday, March 14, 2017 Energy drags on Wall St. as oil falls further; airlines slide (Reuters) - U.S. stocks fell on Tuesday as oil prices dropped to their lowest since November and airlines pulled industrial stocks down as a blizzard hit the U.S. Northeast. Ackman's Pershing Square sells Valeant stake, takes $3 billion loss BOSTON (Reuters) - Billionaire investor William Ackman walked away from Valeant Pharmaceuticals International Inc on Monday with a loss of more than $3 billion as he sold his entire stake in the struggling drug company after trying to rescue it for some 18 months. Snapchat 2017 ad revenue forecast trimmed to $770 million: eMarketer (Reuters) - The 2017 advertising revenue forecast for Snap Inc's Snapchat has been trimmed by $30 million due to higher than expected revenue sharing with its partners, digital marketing firm eMarketer said in its latest ad spending forecast on Tuesday. Neiman Marcus says it is exploring options, including a sale (Reuters) - Luxury fashion retailer Neiman Marcus Group Ltd LLC said on Tuesday that it was exploring strategic alternatives, including changes to its capital structure or a sale of the company, as it seeks relief from its swelling debt pile. Boeing, aerospace manufacturers back U.S. tax overhaul SEATTLE (Reuters) - Boeing Co and about 90 other aerospace companies are urging Congress to overhaul the U.S. tax system, saying a set of changes Republicans proposed last year - including a big cut in the corporate tax rate - will make them more competitive globally and help create U.S. jobs. AIG asked CEO Hancock to resign to avoid battle with Icahn: WSJ (Reuters) - American International Group Inc's decision to remove Peter Hancock as its chief executive was to avoid a proxy battle with billionaire activist investor Carl Icahn, the Wall Street Journal reported, citing people familiar with the matter. LPC: Valeant refinancing on track despite Ackman stock sale NEW YORK (Reuters) - Drugmaker Valeant Pharmaceuticals will not see any changes to its planned refinancing in the wake of billionaire William Ackman and his hedge fund Pershing Square selling its share of the company, sources said. Exclusive: Delta hires consultant to study refinery options - sources NEW YORK (Reuters) - Delta Air Lines has hired a consultant to assess the impact on jet fuel prices if the carrier sells or closes the Philadelphia-area refinery it purchased five years ago to keep fuel affordable, two sources familiar with the process said. Gap Inc names Breitbard as Banana Republic head (Reuters) - Gap Inc named Mark Breitbard as president and chief executive officer of its Banana Republic brand. Unilever CEO urges UK to provide 'level playing field' after Kraft's failed $143 billion bid: FT LONDON (Reuters) - Unilever CEO Paul Polman said the British government should ensure a level playing field for companies facing takeover bids such as Kraft Heinz's failed $143 billion attempt to buy the Anglo-Dutch company, the FT reported on Tuesday. Related Video New deals as Saudi King courts Japan Sugar trade spat between U.S. and Mexico Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today News you can use with actionable, timely advice for managing your financial life, including retirement, taxes, real estate, education and more. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2017 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook