By Saikat Chatterjee and Tara Joseph
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.
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.
“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.
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.
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.
With the latest deal, IBM said it will have invested more than $4 billion to acquire and build its healthcare capabilities.
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.
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.
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 »