Allergan filed a lawsuit claiming Valeant Pharmaceuticals, investor William Ackman and his firm Pershing Square violated securities laws prohibiting insider trading, among other things, in the companies' takeover battle.
ArcelorMittal posted its first quarterly profit in two years, reaping benefits from cost cuts in Europe and a resurgence in U.S. steel demand. But it warned that a sharp drop in iron-ore prices would reduce its outlook for full-year earnings.
U.S. auto demand roared ahead, up 9% over a year earlier, thanks to healthy summer sales incentives and strong demand for sport-utility vehicles that pushed the annualized selling pace above 16 million cars and light trucks for a fifth straight month.
Canada's government-owned rail-passenger service, VIA Rail Canada, said one of its trains struck a derailed Canadian National Railway Co. train in eastern Ontario on Friday, disrupting service in the busy Toronto-Montreal rail corridor.
The Federal Communications Commission has proposed banning wireless companies from teaming up to bid at next year's spectrum auction, a move that appears aimed at discouraging a Sprint bid for T-Mobile US.