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Chinese consortium agrees to $4.4 billion deal for Caesars online games
A Chinese consortium that includes game developer Shanghai Giant Network Technology Co Ltd and e-commerce company Alibaba Group Holding Ltd founder Jack Ma has agreed to acquire Caesars Interactive Entertainment Inc's online games unit for $4.4 billion in cash, the companies said. Caesars Interactive Entertainment is currently owned by Caesars Acquisition Co (CAC) and Caesars Entertainment Corp... [Read more]
AB InBev clears China hurdle in SABMiller takeover deal
BRUSSELS/BEIJING (Reuters) – Brewer Anheuser-Busch InBev cleared a major hurdle toward its takeover of SABMiller with regulatory approval from China on Friday, leaving the acquisition's future in the hands of the British company's board. China's ministry of commerce Here is the original: AB InBev clears China hurdle in SABMiller takeover deal Read More →
Revenue growth lifts UPS profit, confirms 2016 outlook
By Nick Carey CHICAGO (Reuters) – United Parcel Service Inc reported a higher quarterly net profit on Friday that met analyst expectations as revenue grew across its business units, and the company reaffirmed its full-year earnings outlook despite global economic uncertainty. Like other package delivery companies, UPS has benefited from a rapid rise in ecommerce, but has also struggled to bring... [Read more]
Oil rally to resume later this year, demand to offset glut: Reuters poll
A survey of 29 economists and analysts forecast Brent crude will average $45.51 per barrel in 2016, up marginally from last month's forecast of $45.20, and about $3.55 higher than the $41.96 average so far this year. “We project solid global demand growth in 2016 (1.4 million barrels per day), and a reasonable growth in 2017 (+1.1 MMBbl/d), mostly driven by China, India and Africa.... [Read more]
Credit Suisse to create U.S. banking business for billionaire
Credit Suisse Group AG , which exited its U.S. private wealth business last year, is building out a new investment banking group in the region to serve billionaires. Switzerland's second-biggest bank has hired Charlie Buckley from rival UBS Group AG to work with View original here: Credit Suisse to create U.S. banking business for billionaire Read More →
Teva, Allergan win U.S. antitrust approval for generics deal
WASHINGTON (Reuters) – Teva Pharmaceutical Industries Ltd won U.S. antitrust approval to purchase Allergan Plc's generics business, after agreeing to divest 79 generic drugs to rival firms, the Federal Trade Commission said on Wednesday. More here: Teva, Allergan win U.S. antitrust approval for generics deal Read More →
Fed prepares action against Goldman over NY Fed leak: NYT
The U.S. Federal Reserve is preparing an enforcement action against Goldman Sachs Group Inc related to a leak of confidential government information to one of its employees, the New … Original post: Fed prepares action against Goldman over NY Fed leak: NYT Read More →
The identity crisis that led to Yahoo’s demise
By Jonathan Weber and Jeffrey Dastin SAN FRANCISCO (Reuters) – When senior Yahoo executives gathered at a San Jose hotel for a management retreat in the spring of 2006, there was no outward sign of a company in crisis. The tough days of the dot-com bust were a distant memory, and Yahoo Inc, flush with lucrative advertising deals from the world's biggest brands, was enjoying its run as one... [Read more]
Apple weathers anti-U.S. demo in China, where patriotic protests snowball
Apple Inc found itself on the receiving end of a small, short-lived anti-U.S. protest this week in China, the tech firm's biggest overseas market and a country where foreign firms have suffered damaging boycotts following international spats. A handful of unofficial Apple stores were picketed and social … Read more from the original source: Apple weathers anti-U.S. demo in China, where... [Read more]
Hershey Trust reaches in-principle reform agreement
It could also offer the clarity needed for Mondelez International Inc to make a new approach to acquire Hershey. The $12 billion trust, set up by company founder Milton Hershey over a century ago to fund and run a school for underprivileged children, must approve any sale of the company. It rejected a $23 billion cash-and-stock offer for Hershey by Mondelez, the maker of Oreo and Cadbury chocolate,... [Read more]