NEW YORK Wall Street financier Lynn Tilton on Friday said her firm Patriarch Partners LLC will become a “family office” and will step down as collateral manager of three investment pools that helped fund her portfolio of troubled companies. The decision follow... More »
WASHINGTON U.S. securities regulators plan to scale back examinations of brokers so they can shift resources to improve oversight of investment advisers, which have traditionally faced less scrutiny, several people familiar with the matter said on Friday. The ... More »
BOSTON U.S. college and university endowments earned an average return of 2.4 percent after fees in the fiscal year ended in June, their lowest return since fiscal 2012 and a sharp drop from the 15.5 percent they earned in fiscal 2014, according to a study rel... More »
NEW YORK Greenlight Capital said in an SEC filing on Monday that the New York-based firm, run by influential hedge fund manager David Einhorn, has reached no agreement on gaining a board seat at SunEdison Inc. “To date, no understanding has been reached betwee... More »
Bloomberg LP will get an opportunity to contest a U.S. judge’s order requiring more than 100 people to disclose if they shared confidential information with the media company’s reporters about the bankruptcy of Molycorp Inc. U.S. Bankruptcy Judge Christopher S... More »
WILMINGTON, Del. A U.S. judge on Tuesday denied a request by media company Bloomberg LP to stay an order requiring more than 100 people to disclose information they shared with its reporters about the bankruptcy of the largest U.S. rare earth mining company, w... More »
SAN FRANCISCO SpaceX’s successful landing of a reusable rocket booster last month opens a new frontier for commercial space startups by offering tremendous cost savings and attracting venture capitalists who once shied away from spatial ventures. Space startup... More »
SAN FRANCISCO Transportation technology company TransLoc announced on Monday a partnership with Uber, marking a significant advancement in the ride-hailing company’s effort to ally itself with public transit agencies. TransLoc, which builds technology products... More »
SHANGHAI Swiss bank UBS AG plans to more than double the number of staff at its China wealth management teams over the next five years, said Kathryn Shih, Asia pacific president at the bank, in an interview with Reuters on Monday. Shih said market volatility w... More »
Ride-hailing app Lyft Inc, Uber Technologies Inc’s biggest competition in the United States, expects to raise up to $1 billion in a new round of financing, Bloomberg reported citing a Delaware state filing. The document filed by Lyft on Friday evening did not ... More »
TOKYO Japanese electronics maker Panasonic Corp (6752.T) has agreed to buy a majority stake in U.S. refrigeration systems maker Hussmann from a private equity firm for over 150 billion yen ($1.2 billion), people familiar with the matter said on Monday. Panason... More »
Private equity firm Cerberus Capital Management LP [CBS.UL] is close to an agreement to buy Avon Products Inc’s (AVP.N) North American business for $170 million, the Wall Street Journal reported on Thursday. New York-based Cerberus will also invest $435 millio... More »
SAO PAULO The reliance of Brazil’s Grupo BTG Pactual SA on market funding may pose an immediate challenge for new boss Persio Arida, who sought to calm clients on Friday after its shares fell for a third straight day. The São Paulo-based investment bank tapped... More »
SAO PAULO Clients stepped up withdrawals from Grupo BTG Pactual SA’s money management unit on Thursday, according to a source with knowledge of the bank’s strategy, as Latin America’s largest independent investment bank tries to contain fallout from the arrest... More »
U.S. film studio Relativity Media LLC is accusing its senior lender and two former executives of a secret plan to thwart its refinancing efforts, a factor that it said in court documents helped lead to its July bankruptcy filing. In a revised disclosure statem... More »
SAN FRANCISCO Snapchat, maker of a free mobile app that lets users send videos and messages that disappear in seconds, is struggling to gain traction with advertisers, fuelling investor concern that its $16 billion valuation isn’t justified by a business that ... More »
AMSTERDAM Philips (PHG.AS) said on Monday the sale of its $3.3-billion Lumileds business to Go Scale Capital was uncertain, due to U.S. government concerns. Philips had announced in March an agreement to sell a stake of 80.1 percent in the business to Go Scale... More »
EMC Corp, the data storage company that is preparing to unveil an agreement to be acquired by personal computer maker Dell Inc [DI.UL] as early as Monday, is also planning to seek out other suitors, according to people familiar with the matter. EMC has asked f... More »
ZURICH Swiss bank Credit Suisse plans to tap investors for a “substantial” capital raising to fund a restructuring of the bank under new Chief Executive Tidjane Thiam, the Financial Times said on Thursday. Since taking charge of Credit Suisse in July, Thiam ha... More »
Nelson Peltz’s Trian Fund Management has accumulated $2.5 billion in General Electric (GE.N) shares since May — a roughly 1 percent stake — making it one of the company’s top 10 shareholders, the Wall Street Journal reported. In a white paper Trian plans to di... More »
SAN FRANCISCO The much anticipated initial public offering from Silicon Valley payments company Square could take a price hit if its chief executive, Jack Dorsey, takes a second and possibly more demanding job: running Twitter. A distracted CEO juggling two co... More »
LONDON Britain’s Tesco (TSCO.L) has agreed to sell its South Korean unit to a group led by private equity firm MBK Partners for $6.1 billion, it said on Monday, in its first major disposal since it hit financial difficulties. Seeking to raise funds to revitali... More »
SAN FRANCISCO The waves of cash surfed relentlessly by some of Silicon Valley’s largest venture-backed businesses are showing signs of receding amid concern the companies may already worth more than they’re likely to be valued once they finally go public. Inve... More »
SINGAPORE Carlyle Group’s nominee on the board of China Fishery Group (CNFG.SI) has stepped down, a few months after the U.S. private equity firm declined to take part in the Singapore-listed company’s rights issue. Patrick Siewert resigned as a non-executive ... More »
Comcast Corp’s NBCUniversal said on Tuesday it had invested $200 million in online publisher BuzzFeed, the latest move by the media conglomerate to tap into a younger audience. NBCUniversal invested $200 million last week in Vox Media, owner of tech-focused we... More »
Norton antivirus software maker Symantec Corp has agreed to sell its data storage unit, Veritas, for $8 billion to a group led by Carlyle Group LP as it seeks cash to turn around its core security software business. The deal, the biggest U.S. leveraged buyout ... More »
Deal makers and employees at private equity firms are expected to receive the biggest bonus increases this year on Wall Street, according to a forecast by compensation consulting firm Johnson Associates. Overall, however, year-end incentive payments on Wall St... More »
SAN FRANCISCO Ellen Pao resigned as acting chief executive of Reddit Friday in the latest sign of turmoil at the site, recently roiled by the firing of a popular employee and ongoing tensions over the limits of free speech on its social-news platform. Reddit c... More »
A clothing designer area is pictured at TechShop in the South of Market neighborhood in San Francisco, California April 24, 2014. REUTERS/Robert Galbraith In the shadow of Internet monoliths such as Facebook, Google and Twitter, it’s easy to forget that Silico... More »
A Cisco office is pictured in San Diego, California November 12, 2012. REUTERS/Mike Blake Cisco’s corporate venture-capital arm said it would deploy $150 million to start-up companies over the next two to three years, accelerating its investments into areas su... More »
Pedestrians walk past the NASDAQ MarketSite in New York’s Times Square in this June 4, 2012 file photo. REUTERS/Eric Thayer/Files Private equity firm KKR & Co LP (KKR.N) plans to allow investors to sell parts of their stake in buyout funds through a new privat... More »
