Icahn, Ackman square off over Herbalife
NEW YORK -- Strictly business, nothing personal. That's how Carl Icahn characterizes the latest turn in his clash with fellow Wall Street titan William Ackman.Both men have a keen interest in Herbalife, a maker of dietary supplements designed to promote weight loss. Ackman claims the company is a fraud and has bet that its stock price will crumble; Icahn says it's a great buy.They both can't be right.-- The Associated PressU.S. manufacturing falls slightly in JanuaryWASHINGTON, D.C. -- U.S. factories slowed production in January after two solid months of cranking out goods. The weakness mainly reflected a big drop in output at auto factories that is likely temporary.Manufacturing output fell 0.4 percent in January from December, the Federal Reserve said Friday. The decline followed increases of 1.1 percent in December and 1.7 percent in November.-- The Associated PressForeign investment rises despite fiscal battlesWASHINGTON, D.C. -- Foreign demand for U.S. Treasury securities rose to a record level in December, evidence that overseas investors remained confident in U.S. debt despite Washington's budget battles.The Treasury Department said Friday that foreign holdings of U.S. Treasurys rose 0.3 percent in December from November to $5.56 trillion. It was the 12th consecutive monthly gain.China increased its holdings 1.7 percent to $1.2 trillion. Japan boosted its investment 0.2 percent to $1.12 trillion.-- The Associated PressNew menu not enough, Burger King saysA revamped menu helped boost Burger King's profit in the fourth quarter but the world's second biggest hamburger chain says it needs to play up value more aggressively to compete with rivals.The Miami-based chain said Friday that sales in the new year are trending "modestly negative" as the industry fights to attract cash-strapped diners.-- The Associated PressDangerous leak recalls 30,000 BMW SUVsDETROIT -- BMW is recalling more than 30,000 X5 SUVs, built from 2007 through 2010, to fix an oil leak that can knock out power-assisted braking.-- The Associated PressHave more to add? News tip? Tell us
