Reuters News

Fugitive Connecticut fund manager charged in new U.S. indictment: Reuters

A Connecticut fund manager who fled the United States after being hit with criminal insider trading charges was indicted on Wednesday for engaging in a separate scheme to embezzle $54 million from the private equity firm for which he worked, Reuters reported.

Australia's ALS rejects $1.93 billion takeover offer from private equity: Reuters

Australian testing services provider ALS Ltd (ALQ.AX) rejected an A$2.67 billion ($1.93 billion) takeover proposal from private equity firms Advent International and Bain Capital, saying its board felt the offer significantly undervalued the company, Reuters reported.

Uber raises $3.5 billion from Saudi Arabia's sovereign wealth fund: Reuters

Uber has raised $3.5 billion from Saudi Arabia's sovereign wealth fund, the U.S. ride-hailing service said on Wednesday, gaining a crucial partner in its expansion into the Middle East, Reuters News reported.

Reuters Commentary: Thiel shows why tech billionaires are the new robber barons

Throughout history, wealthy industrialists have engaged in vendettas. The venture capitalist Peter Thiel, we now see, is no different. What’s different is Americans’ expectations, Reuters News said.

Temasek, GIC buy $1 billion in Alibaba stock in SoftBank sale: Reuters

Singapore state funds bought $1 billion of shares in Chinese e-commerce company Alibaba Group Holding Ltd as part of an $8.9 billion sale by Japan's SoftBank Group Corp, Alibaba's biggest shareholder, Reuters News reported.

Wheelchair maker Drive Medical explores sale, say sources: Reuters

Drive Medical, one of the largest manufacturers of wheelchairs, is exploring a potential sale that could value the company at more than $1 billion, including debt, sources told Reuters.

Buyout group 3i buys German car parts maker Schlemmer: Reuters

British buyout group 3i has bought German car parts maker Schlemmer from investor Hannover Finanz in a deal valuing the company at more than 400 million euros ($446 million), a source told Reuters.

Elliott hires Houlihan Lokey's Sorbello to join activist team-email: Reuters

Elliott Management, the $27 billion hedge fund, has hired a Houlihan Lokey banker as part of its activist team, as the group expands its reach across a broad range of sectors.

Salesforce to buy Demandware in $2.8 billion deal: Reuters

Cloud-based software maker Salesforce.com Inc (CRM.N) said on Wednesday it would buy Demandware Inc (DWRE.N), which provides software to design e-commerce websites, in a deal worth about $2.8 billion, Reuters News reported.

Japan's SoftBank plans to sell $7.9 billion in Alibaba stock to cut debt: Reuters

SoftBank Group Corp said it will sell at least $7.9 billion of shares in Alibaba Group Holding Ltd - a move that will cut the Japanese firm's debt amid worries about losses at its U.S. telecoms unit Sprint Corp, Reuters News reported.