Activist investor Nelson Peltz's Trian Fund Management LP, which holds a $1.6 billion stake in DuPont , called on the chemical conglomerate to separate its high-growth agriculture and other businesses from units that generate strong cash flows. DuPont should split itself into two companies, one holding the company's agriculture, nutrition and health and industrial biosciences divisions, Trian Fund said in a Sept. 16 letter to DuPont's board released on Wednesday. DuPont has also announced a $5 billion share repurchase program. "While we applaud the announced spin-off of Performance Chemicals, the Fresh Start initiative and the $5 billion share buy back authorization, we believe strongly that, by themselves, these moves are not enough to optimize shareholder value," Trian Fund said.
China's central bank joined its European counterpart in boosting liquidity to address weakening growth, underscoring a divergence in direction among the world's biggest economies as the U.S. The People's Bank of China is injecting 500 billion yuan ($81 billion) into the nation's largest banks, according to a government official familiar with the matter, signaling the deepest concern yet with an economic slowdown. China's credit expansion builds on targeted measures to shore up growth while stopping short of broad-based stimulus seen in the U.S. By attaching a three-month term to its injection, China is taking a step down that path while maintaining control of a process designed to fuel demand for credit in an already debt-laden economy.