Alibaba leads $2.6 billion bid for Chinese retailer Intime
By Donny Kwok | HONG KONG HONG KONG China's Alibaba Group Holding Ltd (BABA.N) is leading a $2.6 billion bid to privatize Intime Retail Group Co Ltd (1833.HK) in a move to digitize brick-and-mortar department stores while growth in online sales begins to slow.Alibaba Investment Ltd and Intime founder Shen Guojun have offered HK$10 ($1.29) per Intime share - 42.25 percent over the HK$7.03 price when trading stopped on Dec. 28 pending an announcement. The stock surged as much as 38 percent whe..>> view originalValeant to Sell $2.1 Billion in Assets to Pay Down Debt
Valeant Pharmaceuticals International Inc., the embattled Canadian drugmaker, agreed to sell about $2.1 billion in assets to get cash to streamline its businesses and begin easing its debt burden.L’Oreal SA will pay Valeant $1.3 billion for three skin-care brands, the Paris-based company Tuesday said in a statement. Earlier in the day, Valeant said it would sell its Dendreon Pharmaceuticals unit to closely held Chinese conglomerate Sanpower Group Co. for about $820 million. ..>> view originalCandy maker Mars is buying LA animal hospital chain VCA for $7.7 billion
VCA Inc. has spent the last three decades consolidating chunks of the pet health industry into a leading chain of animal hospitals and diagnostic labs. Now the Los Angeles company has agreed to be bought for $7.7 billion by Mars Inc., which is best known for its candy but also owns a significant pet-care business. VCA operates nearly 800 animal hospitals and 60 diagnostic laboratories in the United States and Canada.The firm employs 23,000 people — including about 1,400 in the Los Angeles area..>> view originalUS cuts fees for FHA mortgage insurance
Commuters crowd a bus on London Bridge in London on Jan. 9, 2017, during a 24-hour tube strike. A strike on the London Underground caused major disruption as almost all stations in the city center shut and services were canceled in a dispute over jobs and ticket office closures. (Ben Stansall/AFP/Getty Images) January 9 at 6:22 PM HOUSING U.S. cuts fees for mortgage insurance The Obama administration is cutting mortgage-insurance premiums charged under a government program popular with ..>> view originalDonald Trump and Alibaba founder to create '1 million' US jobs? Unlikely.
BEIJING — Jack Ma, the billionaire founder of Chinese e-commerce giant Alibaba, strolled into Trump Tower on Monday to talk to Donald J. Trump about a plan to create 1 million U.S. jobs — or that’s how they sold it. Trump’s incoming press secretary said the tycoons would discuss “how Alibaba can create 1 million U.S. jobs by enabling 1 million U.S. small businesses to sell goods into the China and the Asian marketplace.” For its part, the company pitched it as a certainty: “Alibaba,” it said ..>> view originalInside Rex Tillerson's Negotiating Style: Cozy With Power, Unbending and Theatrical
MOSCOW—In the spring of 2014, after the U.S. punished Russia with sanctions for seizing Ukrainian territory, Rex Tillerson made a major decision. The Exxon Mobil Corp. chief executive, now Donald Trump’s nominee for secretary of state, would deepen his company’s longstanding partnership with the Kremlin. During negotiations, the CEO of Rosneft, the Kremlin’s state-controlled oil company, looked over a proposed contract related to the pair’s operations off Sakhalin Island, in Russia’s Far East,..>> view originalSnapchat will make the UK its new international headquarters
Snap, the company behind Snapchat, is making London its new international headquarters. The move is unusual for a US tech firm, with other companies like Google, Facebook, and Uber choosing to settle instead in nations with lower tax rates, such as ...>> view originalYahoo to change name to Altaba once Verizon buys brand and operations
reader comments 60 Yahoo, one of the Internet's most venerable companies, won't exist for much longer. Verizon confirmed plans to acquire Yahoo for $4.8 billion in July, and a new financial filing from Yahoo includes details of what's going to happen next. However, Verizon has promised that—if the increasingly bumpy buyout completes—the Yahoo brand will live on. July's proposed sale included the firm's operating business, but it didn't include the big chunk of Chinese e-commerce site Al..>> view originalStocks and dollar fall; sterling reels from Brexit pain
LONDON Risky assets hit the skids on Tuesday, with stocks and sterling tumbling over political uncertainty over Britain's future ties with the European Union and the policies of the incoming U.S. president, Donald Trump.European stock markets opened broadly lower , with the exception of Britain's blue-chip FTSE stock index .FTSE, which hit a fresh record high on the back of sterling's fall to multi-week lows -- seen as beneficial to exporters.The British currency hit a 10-week low against the ..>> view originalOil prices steady after recent falls on weaker dollar
By Christopher Johnson | LONDON LONDON Oil prices stabilised on Tuesday after a sharp sell-off as a fall in the dollar triggered a bout of short-covering, but analysts said the market remained vulnerable to further falls.Rising oil prices through December encouraged investors to buy large volumes of crude oil futures contracts and many of these "long" positions are likely to be unwound unless the market stays strong, analysts and brokers say."I see this as a dead cat bounce," said Ole Hansen..>> view original
Sunday, February 19, 2017
Alibaba leads $2.6 billion bid for Chinese retailer Intime and other top stories.
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