Wynn faces another suit for the cash donation to University. The Board of Directors of Wynn Resorts Ltd and its owner, billionaire hotelier Steve Wynn is now facing another shareholder lawsuit alleging that US$135 million donation to the University of Macau had wasted company assets and was in breach of its fiduciary duties.
Corporations
Hochtief to Sell Services Division
Hochtief gets many offers for its services division. Hochtief, the German construction group would be selling its services division. It is expecting the sale to net Eur170 million according to a report by a German magazine.
Arabtec's New Executive Says No Increased Aabar Stake
The new chief executive of Arabtec said that there are no attempts made by Aabar to increase shares in the investment fund.
Alfa Group to Put up Consortium for Vodka Maker
A1 putting together consortium with two of the major stockholders of CEDC. A1, the venture capital unit of the Alfa Group has formally notified the committee of holders of CEDC notes that it is putting together a plan to restructure Central European Distribution Corp.
Royalty Pharma Offers US$6.6Bln Offer for Elan
Royalty Pharma offers US$11 per Elan share. While Elan is in the process of selling its fifty percent share in the successful multiple scelerosis drug Tysabri with its US partner Biogen Idec, here comes American investment firm Royalty Pharma offering US6.
Latest News
Groupon searches for new CEO and expands to ecommerce. After last week's unceremonious termination of Groupon founder Andrew Mason as CEO, Chairman Eric Lefkofsky is now under pressure to turn the fortunes around of the beleaguered company.
Best Buy closes chapter on Schulze takeover bid. With the clock passing on the deadline for the Richard Schulze offer to be filed, Best Buy is now going with the turnaround plan proposed by current CEO Hubert Joly.
A report from newspaper Vedomosti disclosed that Peugeot and ZIL are planning to produce light commercial vehicles in the Russian market.
Piraeus is now the shipping hub for HP through Cosco Shipping. A deal was inked between Hewlett-Packard and Cosco to make Piraeus, Greece a key hub for supply and distribution.
Foxconn to dissolve JV with Metro AG. Foxconn Technology Group, after its failed joint venture with Metro AG, a German retailer has said it will turn to China for expansion of its retail business.
Jaguar and Land Rover exploring deal with Tata Motors to manufacture vehicles in India. Jaguar Land Rover, one of Britain's most exclusive car brands, is said to be doing its due diligence as to the possibility of manufacturing its luxury cars in India.
Twilio has been creating a fund similar to what Facebook created to increase world presence. Internet telephony company Twilio has been following what internet giant Facebook did to create pathways for success.
Both News Corp. and Walt Disney have been discussions how to settle issuing badly affecting its jointly controlled online video site Hulu LLC.
The sale of Bausch and Lomb can either be a private one or through an IPO. The initial public offering of iconic eyewear company Bausch and Lomb would be headed by three well-known banks.
