The Bancor token project raised about $147 million on Monday in an initial coin offering, making it the second-largest fundraising campaign in the blockchain industry, according to the Bancor website, Reuters reported.
2 min read · 13 June 2017
Children's apparel retailer Gymboree Corp filed for Chapter 11 bankruptcy late Sunday with a plan to cut its debt by around $1 billion and close 375 stores, Reuters reported.
2 min read · 13 June 2017
Altice USA, the cable operator that Netherlands-based Altice NV put together by acquiring Cablevision Systems Corp and Suddenlink Communications, will be valued at up to US$22 billion after its initial public offering on the New York Stock Exchange, Reuters reported. Of the projected US$1.6 billion in proceeds at the top end of the price range, Altice USA would receive US$374 million because about three quarters of the shares sold will be offered by London-based private equity firm BC Partners and fellow stakeholder Canadian Pension Plan Investment Board.
2 min read · 12 June 2017
Canada launched a fast-track visa program for highly-skilled workers, as it seeks to take advantage of a tougher immigration environment in the United States, Reuters reported. The move comes at a critical time for Canadian technology companies, who are looking to lure top global talent who otherwise flock to Silicon Valley. "In a world where people are becoming more and more inward, where there is a rise in populism, there is a lot of Islamophobia, a lot of xenophobia, there's a lot of anti-immigrant sentiment, Canada is uniquely positioned," Innovation Minister Navdeep Bains said.
2 min read · 12 June 2017
Private equity fund Nordic Capital gained EU antitrust approval on Monday to buy Sweden's Intrum Justitia after pledging to sell overlapping debt collection and debt purchase businesses in five neighboring countries, Reuters reported.
1 min read · 12 June 2017
General Electric Co said Jeff Immelt would retire as chief executive and would be replaced by John Flannery, the head of GE healthcare, ending a years-long succession plan, Reuters reported.
1 min read · 12 June 2017
THL Credit Advisors LLC, the credit investment affiliate of buyout firm Thomas H. Lee Partners LP, said on Sunday it completed raising its third fund focused on direct lending to midsized privately-owned companies, amassing $511 million, Reuters reported.
1 min read · 12 June 2017
A group of Nordstrom Inc family members is talking to buyout firms about raising $1 billion to $2 billion in equity to fund a potential bid to take the U.S. department store operator private, Reuters reported.
2 min read · 12 June 2017
Britain's biggest carmaker Jaguar Land Rover said its mobility services business, InMotion Ventures, would invest $25 million in U.S. ride services company Lyft Inc to help develop and test technology for self-driving cars, Reuters reported.
1 min read · 12 June 2017
Australian bank Macquarie will acquire Cargill Inc's North America power and gas business for an undisclosed amount, the companies said on Friday.
1 min read · 09 June 2017
