German automaker Daimler AG said it will buy back as much as 10 percent of its stock, or 96.4 million shares, for up to $9.3 billion, to boost its share price. Daimler, the world’s No. 2 maker of luxury cars, has seen its share price fall 31 percent this year. Its stock rose almost 5 percent on the news of the buyback. “That is finally what the market was looking for,” said analyst Georg Stuerzer at Unicredit. (Bloomberg)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Did the media get Ferguson wrong?
- What the Middle Ages can tell us about the GOP's big charity myth
- 43 TV shows to watch in 2014
- 10 things you need to know today: October 24, 2014
- The U.S. is about to sell weapons to Vietnam. That's bad news for China.
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- 3 horrific inaccuracies in Homeland's depiction of Islamabad
- America's anti-feminist mega-corporations' toxic disregard for women must stop
- How foreign aid screwed up Liberia's ability to fight Ebola
- Why the government should pay every American child an allowance
Subscribe to the Week