U.S. telecommunications rivals Verizon Communications Inc and AT&T Inc are set to go through to the third and final round of bidding in the auction for Yahoo Inc's core internet assets, sources told Reuters News.
2 min read · 13 June 2016
Gawker Media LLC, which was ordered to pay $140 million in damages to wrestler Hulk Hogan for publishing a sex tape involving him, filed for chapter 11 bankruptcy protection on Friday, Reuters reported.
1 min read · 10 June 2016
PSP Investments, one of Canada's biggest pension funds, said on Friday it had acquired a significant minority stake in Allflex Group, the world's biggest maker of electronic tags for animals, from private equity firm BC Partners, Reuters reported.
1 min read · 10 June 2016
Guy Hands has withdrawn his case against Citigroup over the 2007 buyout of music label EMI by his private equity firm Terra Firma, the company said on Friday.
1 min read · 10 June 2016
Privately held cybersecurity software maker Tenable Network Security Inc said its chief executive Ron Gula, who co-founded the company in 2002, has stepped down, Reuters previously reported.
1 min read · 09 June 2016
A Chinese optical physicist who did consulting work for two Chinese private equity firms agreed to pay nearly $757,000 to settle U.S. Securities and Exchange Commission insider trading charges over a proposed buyout of a Silicon Valley company, the regulator said on Thursday.
2 min read · 09 June 2016
Ireland's state-run "bad bank" selected U.S. private equity firm Oaktree Capital Group LLC as preferred bidder for two portfolios of non-performing loans that have a combined par value of 4.7 billion euros ($5.3 bln), a source told Reuters.
1 min read · 09 June 2016
Two of Canada's largest pension funds have bought a stake in one of Mexico's biggest toll road concessions from an infrastructure company controlled by billionaire Carlos Slim, Reuters reported. Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan have invested $1.35 billion for a 49 percent stake in the Arco Norte toll road, which connects the states of Mexico, Puebla, Hidalgo and Queretaro and is a link to major trade corridors. "Arco Norte represents our first infrastructure investment in Mexico and enables us to invest in an established, modern toll road of significant size," Cressida Hogg, CPPIB's global infrastructure head, said.
2 min read · 09 June 2016
Royal Bank of Canada wants to team up with Silicon Valley's brightest talent to position itself at the forefront of new financial technologies, Vice President of Innovation Gabriel Woo said in an interview with Reuters. The bank, Canada's biggest lender, has launched an "innovation lab" in Silicon Valley, where it will identify and work with local "fintech" startups, Woo said. Fintech ventures, usually startups, develop technology ranging from loan, insurance and payment services to cloud data storage on smartphones. According to KPMG, global investment in fintech companies totaled US$19.1 billion last year.
2 min read · 09 June 2016
Swiss commodity trader and miner Glencore has agreed to sell a 9.99 percent stake in its agricultural business to British Columbia Investment Management Corp (bcIMC) for US$624.9 million in cash, as it continues a push to sell up to US$5 billion worth of assets this year to help cut debt, Reuters reported. The deal follows the company's sale of a 40 percent stake in Glencore Agri to Canada Pension Plan Investment Board for US$2.5 billion in April, and will leave Glencore with just over a 50 percent stake in the business, with existing management to stay.
2 min read · 09 June 2016
