Tesla looks to China sales, Bloomberg reports – Tesla Motors would like its Model S to qualify for Chinaâ€™s electric car subsidies that the government said will remain more valuable than initially planned, reports Bloomberg. Two analysts said that Chinaâ€™s extension of incentives, which Tesla?s car doesn?t get as a U.S. import, still creates favorable conditions ahead of the start of Model S sales there in March. Reference
Hess CEO pursues new strategy, WSJ reports – John Hess, CEO of Hess Corp., is transforming the company to a exploration and production firm from the refining and marketing business his late father built. After a tough proxy fight last year, he says they’re in a transition period. "Expectations are set by Wall Street analysts, not the company, so getting a re-basing of the company will take some time." Reference
BofA sees room to boost Merrill profitability, Reuters says – The head of Bank of America’s Merrill Lynch wealth management unit, John Thiel, thinks the division could boost its pre-tax margin to over 30% once interest rates normalize, reported Reuters, citing Thiel’s comments at an investor conference. For comparison, the report notes that the division’s margin was 26.4% in 2013. Reference
KKR, Carlyle said to be in talks fo Abril Educacao stake, Reuters reports – Abril Educacao, the Brazilian education company, is in talks with Carlyle (CG) and KKR (KKR) about the sale of a minority stake in the company for up to $187.5M,according to the Valor Economico newspaper, reports Reuters. Reference
EU expected to approve DuPont biotech corn, WSJ reports – The EU is set to approve its second genetically modified crop in 15 years, which would be a win for DuPont, even as most EU states object, reports the Wall Street Journal. Reference
Former Google Wallet head Bedier joins board of WePay, Re/code reports – Former Google Wallet (GOOG) head longtime PayPal (EBAY) executive Osama Bedier has joined the board of directors of WePay, a California-based startup and PayPal rival, Re/code reports. Other WePay competitors include Stripe and Balanced. Reference
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