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Tesla offers $2.8 billion for SolarCity in ‘no brainer’ deal for Musk
By Nichola Groom and Paul Lienert LOS ANGELES/DETROIT (Reuters) – Elon Musk on Tuesday sought to build a clean energy powerhouse as his electric car maker, Tesla Motors Inc , made an offer to buy his solar installation firm SolarCity Corp in a stock deal worth as much as $2.8 billion. Tesla shares plunged more than 13 percent to $189.99 in extended trading – amounting to a loss in value... [Read more]
Russia’s Gazprom eyes asset swap deals with Shell, OMV by year-end
Russia's state-controlled gas giant Gazprom could gain control over some of the assets that Shell acquired earlier this year from BG group, a senior Gazprom executive said in an interview. Gazprom's Deputy Chief… More: Russia’s Gazprom eyes asset swap deals with Shell, OMV by year-end Read More →
Exclusive: Francisco Partners, Elliott near Dell software deal – sources
Divesting the software assets will help Dell refocus its technology portfolio and bolster its balance sheet after it agreed in October to buy data storage company EMC Corp for $67 billion. EMC Read the rest here: Exclusive: Francisco Partners, Elliott near Dell software deal – sources Read More →
Brexit helped keep Fed on hold, could slow future U.S. rate rises
Federal Reserve Chair Janet Yellen left U.S. interest rates unchanged on Wednesday, citing slow jobs gains, tepid growth and low inflation – and an impending vote in Britain on whether to quit the European Read the rest here: Brexit helped keep Fed on hold, could slow future U.S. rate rises Read More →
Exclusive: EU set to clear unconditionally Marriott, Starwood deal – source
U.S. hotel chain Marriott International is on track to win unconditional EU antitrust approval for its cash and share purchase of Starwood Hotels and Resorts Worldwide Inc , a person familiar with the matter said on Tuesday. The deal, currently worth $12.5 billion, will put Marriott's brands including the Ritz-Carlton and Starwood's Sheraton and Westin… See the original post here: Exclusive:... [Read more]
Exclusive: ECB would pledge to backstop markets after a Brexit – sources
By John O'Donnell and Balazs Koranyi FRANKFURT (Reuters) – The European Central Bank would publicly pledge to backstop financial markets in tandem with the Bank of England should Britain vote to leave the European Union, officials with knowledge of the matter told Reuters. Such an announcement from the ECB would come on June 24 if an … Originally posted here: Exclusive: ECB would... [Read more]
U.S. data point to strong domestic demand, stirring inflation
U.S. retail sales rose more than expected in May as Americans bought automobiles and a range of other goods, even as they paid more for gasoline, suggesting that economic growth was gaining steam despite a sharp slowdown in job creation. Sales at clothing retailers increased 0.8 percent, the largest gain since November. Originally posted here: U.S. data point to strong domestic demand, stirring inflation Read More →
Exclusive: Amazon is preparing to launch streaming music service – sources
By Julia Love SAN FRANCISCO (Reuters) – Amazon.com Inc is preparing to launch a standalone music streaming subscription service, placing it squarely in competition with rival offerings from Apple Inc and Spotify, according to two people with knowledge of the matter. Amazon is finalizing licenses with labels for the service, which likely will be launched in late summer or early fall, the sources... [Read more]
Gawker Media files for bankruptcy, to go up for sale
By Jessica DiNapoli and Jared Leone NEW YORK/ST. PETERSBURG, Fla. (Reuters) – Gawker Media LLC, an online publishing pioneer, filed for Chapter 11 bankruptcy and put itself up for sale on Friday after a $140 million court judgment against it in a lawsuit brought by former professional wrestler Hulk Hogan over a sex tape. The move followed revelations that Hogan's lawsuit, along with several... [Read more]
Valeant CEO cuts outlook for ‘distracted’ company, shares plunge
Valeant Pharmaceuticals International Inc slashed its 2016 forecasts on Tuesday, as its new chief executive said he would focus on rebuilding the reputation of a “distracted organization” with a debt-loaded balance sheet. The maker of toenail fungus cream Jublia and anti-depressant drug Wellbutrin, which has faced intense scrutiny for business and accounting practices, missed first-quarter... [Read more]