Bulk shippers hit by perfect storm as global economic doldrums take toll


The dry bulk sector has been dashed upon the rocks of vessel oversupply and slowing economic growth. The industry has suffered from large capital inflows from private equity players who invested in ships in a bet on sustained demand from emerging markets, particularly China.

Yahoo launches auction process as Starboard gears up for fight

The launch of the auction process, a move activist hedge fund Starboard Value and other shareholders have pushed since late last year, showed the company was moving another step closer to selling its core business, which includes search, mail and news sites, rather than spin it off as previously planned.

Yahoo sets panel to explore strategic options as it explores selling itself

“Separating our Alibaba stake from Yahoo’s operating business is essential to maximizing value for our shareholders,” Chief Executive Marissa Mayer Mayer said. Verizon Communications Inc is among the technology, media and telecommunications companies seen as potential buyers of Yahoo’s core business.

La Française takes majority in Forum Securities; deal to enhance exposure in US, Singapore markets

French investment group La Française will take an 80-per-cent interest in investment advisor Forum Securities Ltd two years after launching a strategic partnership with Forum Partners, which is Forum Securities’ parent company.

Swiss private bank BSI, embroiled in 1MDB probe, close to being sold

BTG Pactual could partly receive payment for BSI in cash. Zurich-based EFG and BTG Pactual agreed not to adjust the value of the deal should BSI have to pay a fine related to a scandal at a troubled Malaysian government fund, 1Malaysia Development Bhd.

Tech startup Motive Drilling Technologies raises $10.5m Series A funding from Formation 8, GE ventures

Motive Drilling Technologies has secured a round of $10.5 million Series A funding from US based Formation 8 and GE Ventures.

IBM to acquire Truven Health Analytics for $2.6b

With the latest deal, IBM said it will have invested more than $4 billion to acquire and build its healthcare capabilities.

Dell’s blockbuster $67b deal to buy EMC set to gain EU approval

Dell unveiled the deal in October last year, the largest ever in the technology industry sector, and designed to enable it to better challenge rivals Cisco, IBM and Hewlett-Packard in cloud computing, mobility and cyber security.

Amazon quietly roping in ‘on-demand’ drivers to hasten delivery & slash logistics bill

The move, which has not been announced publicly, is the latest sign that the world’s biggest e-commerce company wants to control more of its own deliveries.

AmEx to overhaul management, cut jobs to slash costs by $1b

American Express Co said it would overhaul its management, streamline its marketing operations and cut jobs as it looks to reduce $1 billion in costs over the next two years. The company is facing stiff competition in the co-branding business and has lost lucrative long-term contracts from companies such as… Read more »