NEW YORK (Reuters) - Yucaipa Cos, a private equity firm controlled by billionaire Ron Burkle, said on Friday it had acquired an 8.3 percent stake in bookseller Barnes & Noble Inc (BKS.N), saying it believed the shares were undervalued.
The company’s shares rose 4 percent after-hours to $15.99, after the announcement.
Yucaipa funds said it had bought about 4.58 million shares since Nov. 24 for about $67.3 million, net of commissions, the company said in a filing with the U.S. Securities and Exchange Commission.

Reuters - Both President-elect Barack Obama and Vice President-elect Joe Biden will huddle with Democratic and Republican congressional leaders on Monday to try to advance a huge economic stimulus bill that Obama hopes can be enacted quickly, despite Republican reservations.

Reuters - GMAC LLC on Friday said that as part of its $6 billion federal bailout and decision to become a bank, it will no longer have the exclusive right to provide low-interest loans to borrowers who buy General Motors Corp cars and trucks.

Here's a look at how bad things were for global stock market indices in 2008.

Citi CEO Vikram Pandit has been writing to his (ever decreasing number of) staff again. This time it's about the firm's new compensation principles.