News

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Wed, 16 Jan 2019 08:28:25 GMT

Rubrik raises $261M in latest funding round

Rubrik, the Data management start-up, attracted $261M in its latest Bain Capital Ventures-led round of funding, valuing the firm at $3.3B.

Wed, 16 Jan 2019 07:30:43 GMT

Ralph Winter's office to fund Medici US shared housing

The family office of Ralph Winter, Germany's real estate investor, agreed to make a $300M worth investment within the next three years to develop about 1,300 US units of shared housing conducted under Medici's Quarters brand.

Wed, 16 Jan 2019 07:21:05 GMT

Sage Group plans US payroll outsourcing unit's sale

Sage Group is planning a sale of its US payroll outsourcing division for $100.08M, as the software provider seeks focusing on subscription services and move the majority of products to its cloud.

Wed, 16 Jan 2019 06:11:09 GMT

PG&E's shares drop on possible bankruptcy announcement

Shares and bonds in PG&E Corp fell sharply, losing 71% of their value since the beginning of the year, as the US power utility announced it would likely to file for the Chapter 11 bankruptcy protection.

Wed, 16 Jan 2019 06:01:37 GMT

Walmart to quit CVS partnerships amid pricing dispute

CVS Health Corp announced its partner Walmart is set to leave its network for the Medicaid and commercial prescription drug plans due to a pricing dispute, as two firms failed to reach an agreement on the issue.

Wed, 16 Jan 2019 05:35:01 GMT

Shoe retailer Payless hires adviser to explore options

Payless ShoeSource, the US discount retailer, has hired the investment bank PJ Solomon, as the company seeks exploring all strategic options, including restructuring or sale, less than 1.5 years after the firm emerged from bankruptcy.

Wed, 16 Jan 2019 05:28:46 GMT

Apollo Global nears Arconic takeover for more than $10B

The private equity firm Apollo Global Management is getting closer to sign a deal to acquire Arconic, the US aluminium products maker, for more than $10B or $21-$22 per share, according to the WSJ.

Tue, 15 Jan 2019 20:42:29 GMT

Italy PM: EU to collapse unless it reviews migration policy

The European Union will collapse unless it reviews the migration policy, the Italian Prime Minister Giuseppe Conte says after a meeting with the European Commissioner for Migration, Home Affairs and Citizenship Dimitris Avramopoulos.

Tue, 15 Jan 2019 20:41:27 GMT

UN General Assembly President to visit Pakistan

The President of the United Nations General Assembly Maria Fernanda Espinosa arrives in Pakistan for an official visit this week, the Foreign Office reports.

Tue, 15 Jan 2019 20:38:43 GMT

Russia, Japan fail to agree on future of disputed islands

The Russian Foreign Minister Sergei Lavrov and his Japanese counterpart Taro Kono failed to agree on the future of four disputed Pacific islands.

Tue, 15 Jan 2019 20:38:36 GMT

Trudeau reshuffles government

The Canadian Prime Minister Justin Trudeau announced a cabinet reshuffle after the President of the Treasury Board Scott Brison resigned the previous week.

Tue, 15 Jan 2019 17:55:21 GMT

Tourism in Germany hits record in 2018

The number of stays by domestic and foreign visitors in Germany is expected to hit a new record of 477M in 2018, the German Federal Statistical Office Destatis reports.

Tue, 15 Jan 2019 17:53:30 GMT

China, Finland promise to improve bilateral ties

The Chinese President Xi Jinping and his Finnish counterpart Sauli Niinisto agreed to improve bilateral ties during a meeting in Beijing.

Tue, 15 Jan 2019 17:04:25 GMT

China's ByteDance unveils new video chat app

The Chinese tech firm ByteDance Technology has launched a video chat app, Duoshan, which could potentially outrace the market leader WeChat owned by Tencent.

Tue, 15 Jan 2019 17:04:17 GMT

France's Gefco plans IPO, picks investment leaders

The Russian-backed French logistics company Gefco is planning to launch an initial public offering and has hired Citigroup, JPMorgan, Societe Generale, Credit Suisse and UBS to lead the process.

Tue, 15 Jan 2019 16:20:26 GMT

Nokia to slash 350 job positions in Finland

Nokia, Finland's telecom equipment maker, is planning to trim 350 job positions in Finland on the back of its cost-cutting plan, as it seeks to find $800M worth savings by the next year.

Tue, 15 Jan 2019 16:17:05 GMT

Rothschild's Vice Chairman steps down from PG&E board

On Tuesday, PG&E announced that the Vice Chairman for the investment banking company Rothschild, Roger Kimmel, had stepped down from the struggling California-based power firm's board.

Tue, 15 Jan 2019 15:11:58 GMT

Huawei founder denies claims firm spies for China

On Tuesday, Huawei's founder Ren Zhengfei have rejected claims that the tech giant is used to spy for the Chinese government, according to a Financial Times report.

Tue, 15 Jan 2019 14:40:15 GMT

Qatar Airways has no plans to acquire Jet Airways

Qatar Airways CEO stated on Tuesday the carrier had no interest in the Indian debt-laden airline Jet Airways, as it was backed by its "enemy" Etihad Airways.

Tue, 15 Jan 2019 13:36:59 GMT

German court rejects Qualcomm's patent suit against Apple

On Tuesday, a German court has thrown out Qualcomm's patent lawsuit brought against Apple, despite winning a court ban on some iPhones sale in the country.

Tue, 15 Jan 2019 13:19:11 GMT

NBA, Tate-Two clinch licensing deal worth up to $1.1B

The National Basketball Association will receive a $1.1B over the next seven years from Take-Two Interactive Software amid signing the licensing deal, allowing it make NBA 2K video game franchise.

Tue, 15 Jan 2019 12:36:28 GMT

Ford, VW to form automotive alliance

Ford Motor and Volkswagen are likely to announce their automotive alliance on Tuesday, which combines commercial vehicles forces and is seen to expand into the development of self-driving and electric technology.

Tue, 15 Jan 2019 11:34:03 GMT

Theresa May faces defeat

As the vote on Brexit approached at the British Parliament, Theresa May faced a likely defeat, as various political forces expressed their views and announced that they will vote against the Brexit deal.

Tue, 15 Jan 2019 11:33:29 GMT

Greek PM is set to win confidence vote

On Tuesday, the Prime Minister of Greece Alexis Tsipras achieved the needed support to win the upcoming confidence vote at the Greek Parliament.

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