Equities

Reuters alone in reporting Honeywell prepares to spin off businesses; shares rise

Reuters alone in reporting Honeywell prepares to spin off businesses; shares rise

Honeywell International shares rose as much as 1.3 percent after Reuters exclusively reported it was planning to spin off non-core assets and create at least two new publicly listed companies, as the U.S. industrial conglomerate seeks to streamline its business. Honeywell subsequently confirmed the plan.