Wall Street surges to new records, boosted by cyclicals

NEW YORK - U.S. stocks rose on Monday, with major indexes hitting fresh records on the back of multiple merger deals and hopes that China will take further accommodative monetary policy action.

Recent Business News

United Technologies CEO Chenevert steps down

- United Technologies Corp said Chief Executive Louis Chenevert would retire immediately and named Chief Financial Officer Gregory Hayes as his successor.

10:12am EST

RenaissanceRe to buy Platinum Underwriters for $1.9 billion

- RenaissanceRe Holdings Ltd said it would buy fellow Bermuda-based reinsurer Platinum Underwriters Holdings Ltd for about $1.9 billion to boost its U.S. business.

7:48am EST

Tesla says in talks with BMW over car batteries, parts

FRANKFURT - U.S. electric carmaker Tesla Motors is in talks with Germany's BMW over a possible collaboration in batteries and lightweight components, Tesla's Chief Executive Elon Musk told German weekly Der Spiegel.

7:01am EST

Carlyle seeking $5 billion for fund with longer life: Bloomberg

- Private equity firm Carlyle Group LP is looking to raise about $5 billion for a fund that can hold stakes in companies for as long as 20 years, Bloomberg reported.

7:59am EST

BioMarin to buy Prosensa in $840 million deal

- BioMarin Pharmaceuticals Inc said it would buy Dutch drug developer Prosensa Holding NV for about $840 million including milestone payments, aiming to add to its portfolio of drugs to treat rare diseases.

7:40am EST


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