Reuters News

American Apparel files for second bankruptcy in just over a year: Reuters

American Apparel LLC filed for its second bankruptcy protection in just over a year on Monday, weighed down by intense competitive pressures facing U.S. teen retailers and a rocky relationship with its founder, Reuters reported.

AXA to sell Bluefin to Marsh for 295 million pounds: Reuters

AXA (AXAF.PA), France's biggest insurer, has entered into an agreement to sell its insurance broking arm Bluefin to U.S. insurer Marsh for 295 million pounds ($368.81 million), Reuters reported.

Fairfax cuts equity hedging, sees U.S. rally after Trump win: Reuters

Fairfax Financial Holdings Ltd, a Canadian firm headed by high-profile investor Prem Watsa, said it planned to significantly reduce its defensive equity hedges due to Donald Trump winning the U.S. presidential election, Reuters reported. "We believe the U.S. election may result in fundamental changes that may bolster economic growth and business development," Watsa, Fairfax's chairman and CEO, said in a statement. The firm said it had cut its equity hedging to 50 percent of its total equity holdings from 113 percent at the end of September.

Four suitors file binding offers for UniCredit's Pioneer, say sources: Reuters

France's Amundi (AMUN.PA), a consortium led by Poste Italiane (PST.MI), Australia's Macquerie (MQG.AX) and U.S.-based Ameriprise Financial (AMP.N) have submitted binding offers to buy UniCredit's (CRDI.MI) asset manager Pioneer, sources told Reuters.

Buyout funds approach Santander and Intesa over Allfunds deal, say sources: Reuters

Buyout firms have approached Santander Asset Management (SASS.SN) and Intesa Sanpaolo (ISP.MI) over a possible takeover of the Allfunds Bank mutual fund platform, sources told Reuters.

Valeant may seek to clean up its name by changing it: Reuters

Valeant Pharmaceuticals International Plc, the drugmaker that became a poster child for high drug prices during the U.S. election season, may change its name to help boost its reputation, Reuters reported, citing comments made by U.S. hedge fund investor William Ackman. A name change would be the latest effort by the company to break from its past, after hiring a new chief executive, overhauling the board, and exploring billions of dollars in asset sales to pay down a US$30 billion debt load.

Oil company WildHorse Resource files for IPO of up to $650 million: Reuters

Independent oil and natural gas company WildHorse Resource Development Corp filed with securities regulators on Thursday to raise up to $650 million in an initial public offering, Reuters reported.

TPG postpones Alinta float in Australia due to market volatility: Reuters

Private equity firm TPG and its partners said on Friday they have decided to postpone the float of Alinta Energy, which would have been Australia's biggest this year, to the first quarter of 2017, due to market jitters in the wake of the U.S. election.

HgCapital puts German meter maker Qundis up for sale, say sources: Reuters

Buyout group HgCapital has put Qundis, a maker of metering devices for heat and water consumption, up for sale in a deal potentially worth more than 400 million euros ($435 mln), sources told Reuters.

Owner of airline services firm Accelya taps banks to launch sale, say sources: Reuters

The private equity owner of European airlines services firm Accelya has hired advisers to sell the business that provides cost management solutions to the likes of British Airways and American Airlines, sources told Reuters.