Ford Motor Co. has cut its stake in Rivian Automotive Inc. to 1.15 percent, as part of a plan to scale down its holdings in the electric-vehicle maker. Ford, which wrote down the value of its Rivian investment by $7.4 billion in 2022, had said last week that the monetization of its stake in Rivian…

PayPal Holdings on Tuesday said activist investor Elliott Management has an over $2 billion stake in the fintech company and the firm raised its annual profit guidance. PayPal shares shot up nearly 12 percent after it also announced a slew of moves including appointing Blake Jorgensen as new chief financial officer and a $15 billion…

Billionaire activist Nelson Peltz will join the board of Unilever, the consumer goods giant said on Tuesday, heaping pressure on the maker of Dove soap and Hellman’s mayonnaise as it reviews its strategy. Shares in the London-listed group jumped 7 percent as it said Peltz, who has amassed a 1.5 percent stake in Unilever, will…

The State Teachers Retirement System of Ohio, or STRS Ohio, one of the largest U.S. public pensions fund, raised its exposure to Tesla Inc. and Ford Motor Co. in the first quarter while trimming its stake in General Motors Co., latest regulatory filings show. Raising Tesla Exposure STRS Ohio raised its stake in the Elon Musk-led Tesla by about 10 percent in the three months ended March…

Warren Buffett’s Berkshire Hathaway Inc. revealed a more than $5 billion stake in Occidental Petroleum Corp., as oil prices soared to their highest level in about a decade. Berkshire said it owns 91.2 million Occidental shares, or nearly 10 percent of those outstanding, including 61.4 million bought from March 2 to March 4. Buffett’s company…

BERLIN—Shares in Commerzbank fell 5 percent in Lang & Schwarz pre-market trade on Monday after Germany’s Finance Minister said the government would not keep its stake in the lender in the long run. “In the long run, the state will not be a shareholder in Commerzbank,” Christian Lindner was quoted as saying by Handelsblatt newspaper….

NEW YORK—Billionaire investor George Soros bought nearly 20 million shares of electric truck startup Rivian Automotive Inc. in the quarter ended Dec. 31, securities filings showed Friday. The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in a company that has yet to produce a…

CHICAGO—Budget carriers Frontier Group Holdings and Spirit Airlines Inc on Monday unveiled plans to create the fifth-largest U.S. airline in a $2.9 billion tie-up likely to tighten competition against traditional carriers. The proposal to form a new no-frills carrier controlled by Frontier Airlines pushed up shares of Spirit as much as 18.7 percent, though several…

TOKYO—Japan’s Hitachi Ltd. will sell about half its 51 percent stake in unit Hitachi Construction Machinery Co. to trading firm Itochu Corp. and investment fund Japan Industrial Partners, public broadcaster NHK reported on Thursday. Hitachi will sell the stake for about 200 billion yen ($1.7 billion), according to a Nikkei business daily report, which did…

PARIS—French sugar and ethanol group Tereos said on Monday its subsidiary Tereos Finance Groupe I intended to issue 300 million euros ($340.17 million) in senior unsecured notes, subject to market conditions, to repay some of its existing debt. The bond would be due in 2027, it said in a financial release posted on its website….