Having incurred operating losses over several years in a row, Wal-Mart is looking to cash out but still maintain a foothold in Brazil. As per two sources with direct knowledge of the matter at hand, Wal-Mart Stores Inc is holding… Read More ›
HR & Organization
Sanofi SA close to acquiring Bioverativ Inc for more than $11.5 billion
France-based pharmaceutical giant, Sanofi SA needs to clinch this deal.The MNC has also obtained the rights to develop and sell a new hemophilia drug in a strategic restructuring of its partnership with Alnylam Pharmaceuticals. As per a report by the… Read More ›
Lenovo Group to make one time payment of $400 million
The PCmaker, a unit of Legend Holdings, stated that the payment, related to its U.S. deferred tax assets, would not significantly impact its cash position nor its operations. The Lenovo Group Ltd has disclosed that it expects to make a… Read More ›
All HNA acquisitions in the U.S. put on hold until ownership structure is clear
Failure to get CFIUS approval will put all of HNA investments in the U.S. in limbo. As per a source familiar with the matter at hand, the U.S. government is unlikely to approve any investment by China’s HNA Group until… Read More ›
Berkshire appoints Ajit Jain as as its vice chairman
Ajit Jain, 66 along with Gregory Abel, 55 are the top contenders to replace Buffet, 87. As per a regulatory filing, Ajit Jain, who has recently been appointed as vice chairman of Berkshire Hathaway Inc, has reported his ownership of… Read More ›
John McCormick becomes president and CEO of Blackstone
J. Tomilson Hill, billionaire art collector, the firm’s esrtwhile Chief executive, has passed the baton to John McCormick; Hill will remain as its chairman. Having being at the helm of the world’s biggest hedge fund, with around $74 billion in… Read More ›
Australia, Japan, Canada working together to replace TPP with CPTPP
Chief negotiators from the respective countries in the Asia Pacific region are set to meet next week to hammer out an agreement for signing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). On Thursday, Australian Prime Minister Malcolm Turnbull… Read More ›
The transfer of Toshiba’s nuclear business to the Baupost Group would help lift its balance sheet by $3.68 billion
The 410 billion transfer includes a post-tax profit of 170 billion yen as well as 240 billion yen tax benefits. On Thursday, Toshiba Corp stated once it sells its claims in Westinghouse Electric Co, its bankrupt nuclear unit, to a… Read More ›
Yet another Chinese city admits to providing fake economic data
China’s Xinhua news agency and the People’s Daily have reported that officials tend to inflate economic data in order to boost their performance based on which they are assessed by China’s central government. Baotou, a northern industrial city in China’s… Read More ›
Judith McKenna to assume Wal-Mart Stores chief executive of its international unit
The move is a potentially a stepping stone towards doning the role of the CEO of the world’s biggest brick and mortar retailer. As per a source with knowledge of the matter, Judith McKenna, Wal-Mart Stores’ Chief Operating Officer is… Read More ›
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