News

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Wed, 16 Oct 2019 10:26:27 GMT

Signify to buy Cooper Lighting in $1.4B deal

The Dutch-based lighting firm Signify agreed with Eaton Corp. to acquire Cooper Lighting Solutions in a cash-deal worth $1.4B, as it seeks to expand its footprint in North America.

Wed, 16 Oct 2019 09:34:40 GMT

GM, union close to end UAW strike

The union of the United Auto Workers and General Motors are nearing a deal to terminate the month-long UAW strike that had cost the carmaker around $2.0B, after the President Mark Reuss and the CEO Mary Barra took part in the contract talks.

Wed, 16 Oct 2019 07:52:40 GMT

PE firm Permira closes latest fund $12B

The global private equity group Permira has closed its new fund at $12.13B of committed capital, as the firm seeks to invest in the technology businesses, consumer and financial services, as well as healthcare and industrial technology industries.

Wed, 16 Oct 2019 06:47:03 GMT

Apollo Global makes $5.0B bid for Tech Data

Apollo Global Management, the private equity firm, made a bid to acquire the US technology equipment distributor Tech Data Corp in a deal worth $5.0B, Reuters reported.

Wed, 16 Oct 2019 06:34:57 GMT

MGM plans two resort sales for $5.0B

MGM Resorts International is planning to sell its Las Vegas' Circus Circus and Bellagio resorts in two separate deals worth around $5.0B, as the US casino operator aims at monetising its assets of real estate and boost its balance sheet.

Wed, 16 Oct 2019 05:04:00 GMT

Bank of Korea cuts key rate

The Central Bank of South Korea trimmed its key interest rate 25 basis points to 1.25%, in line with expectations, leaving the possibility for further easing.

Wed, 16 Oct 2019 04:10:30 GMT

IMF slashes Saudis' growth forecast

The International Monetary Fund announced its expectations for the economy of Saudi Arabia to grow 0.2% in 2019, down from the prior estimate of 1.9%, amid oil production cuts.

Wed, 16 Oct 2019 02:42:48 GMT

UnitedHealth expects profit above target

UnitedHealth provided upbeat expectations for 2020 profit, expecting the growth to be more than 13%, which would outpace current Wall Street forecast.

Wed, 16 Oct 2019 02:35:40 GMT

Whirlpool to close plant in Italy

Whirlpool announced that it would close the company's Naples plant on November 1, despite the attempt by Italy's government to maintain the site open.

Tue, 15 Oct 2019 19:50:01 GMT

Intel acquires Pivot Technology's software business

Intel Corp has signed a deal with Canada's Pivot Technology Solutions to acquire its software business Smart Edge, designed to run on Intel's chips, for $27M, the US chipmaker stated on Tuesday.

Tue, 15 Oct 2019 17:56:48 GMT

German regulator has no plans to exclude Huawei

On Tuesday, the German federal network regulator revealed its rules for the 5G mobile networks build-out and, unlike the United States, is not excluding China's Huawei Technologies.

Tue, 15 Oct 2019 16:45:11 GMT

Google rolls out new tech devices on Tuesday

On Tuesday, Alphabet's Google has announced its mid-tier Pixelbook Go laptop, designed for users on-the-go, at the price starting $649 and the wireless earbuds Pixel Buds worth $179.

Tue, 15 Oct 2019 15:43:05 GMT

Flipkart adds original shows to its video platform

Flipkart, Walmart's Indian division, is adding its original content to the company's newly created video service, Flipkart announced on Tuesday, amid competition with the rival Amazon.com-owned Prime Video.

Tue, 15 Oct 2019 15:20:11 GMT

Tesla to bring Powerwall home battery to Japan

Tesla Inc is set to launch installations of its home power batteries called Powerwall in Japan in spring 2020, the US electric battery and vehicle maker announced on Tuesday, marking its product debut in Asia.

Tue, 15 Oct 2019 13:45:13 GMT

OCTAL in need of adviser amid capital raising plans

OCTAL, the Omani plastics packaging producer, is seeking an adviser ahead of potential capital raising via an equity sale, according to a Reuters report seen on Tuesday.

Tue, 15 Oct 2019 13:39:48 GMT

Wirecard's shares drop over 20% on FT report

On Tuesday, Germany's Wirecard shares dropped more than 20%, after the Financial Times released a report alleging the company of impropriety, saying its accounting practices are indicating attempts to inflate profits and sales.

Tue, 15 Oct 2019 12:37:46 GMT

KKR consortium scraps Latitude IPO

KKR & Co's consortium has cancelled potentially the largest Australian IPO planned for this year, its Latitude Financial lender's listing, Reuters reported on Tuesday.

Tue, 15 Oct 2019 10:53:17 GMT

Carney comments on currency markets

On Tuesday, the Governor of the Bank of England Mark Carney stated that currency brokers should be regulated by the same market-abuse rules that are applied to bond and share trading.

Tue, 15 Oct 2019 09:51:43 GMT

Hyundai plans $35B investment in future automotive tech

Hyundai Motor Group announced on Tuesday it is planning a strategic investment worth $34.65B in the future self-driving technology, as the South Korean top carmaker speeds up its efforts to catch up in the automotive car race.

Tue, 15 Oct 2019 08:51:35 GMT

Blackstone plans tender bid for Japan's Unizo

On Tuesday, Blackstone Group, the private equity firm, announced it would launch its tender offer for the Japanese hotel chain Unizo Holding at $46 per share, shooting back after its previous bid for Unizo was rebuffed.

Tue, 15 Oct 2019 08:34:39 GMT

Exxon Mobil signs expertise-sharing deal with India's ONGC

Exxon Mobil Corp, the global energy giant, is planning to provide its technology and expertise to Oil and Natural Gas Corp, the Indian largest state-owned explorer, to boost the development of its resources in the offshore blocks.

Tue, 15 Oct 2019 06:47:37 GMT

Barneys close to bankruptcy deal

Barneys New York, the US luxury department-store chain, is nearing a $270M bankruptcy deal with Authentic Brands Group, as the contract could result in the Barneys' shops opening in the Saks Fifth Avenue stores.

Tue, 15 Oct 2019 06:37:31 GMT

WeWork leans toward JPMorgan's financing package

The shared office space group WeWork Companies prefers nearly $5.0B JPMorgan Chase's financing package instead of selling its majority stake to the Japan-based SoftBank Group, according to a Bloomberg report.

Tue, 15 Oct 2019 05:58:45 GMT

Stock indices decline

Wall Street stock indices declined on Monday, as uncertainty over the future of global trade was took over.

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