David Tepper, the pioneer in distressed debt, buys millions of shares in Energy Transfer Partners and Kinder Morgan in the face of plaguing oil slump and toxic energy market. He has tapped these pipeline companies after strengthening his US equity holdings by 56% last quarter.
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Japan’s SoftBank embarking on its biggest repurchase of $4.4 billion
The Japanese telecom giant, SoftBank, has announced buyback of shares amounting to $4.4 billion, its biggest repurchase ever. This move is a desperate attempt by the company to regain its footing after its shares plunged to an all-time low following the company's overseas investment in US mobile operator, Sprint.
South Korean Central Bank Keeps Interest Rates Unchanged, Observes Impact of New Stimulus Package
BoK has decided to keep hold benchmark interest rates in place on Tuesday. To tackle the ongoing sluggish economic growth, South Korean government has unveiled a stimulus package on February 3. BoK is predicted to analyze the impact of the stimulus package and hence opts for keeping rates unchanged.
Brazil's Usiminas hires Credit Suisse for unit sale
Brazilian steelmaker Usiminas Siderurgicas de Minas Gerais SA, a Brazilian steel producer, is in the process of offloading its manufacturing unit. Usiminas has already hired Credit Suisse SA as its financial advisor for the unit sale. The sluggish global economy and China's economy slowdown are impacting the Brazilian steel industry in more negative way.
North Korea Will Begin to Export Giant Statue for National Income
North Korea has been using giant statues as propaganda tool for more than 50 years. Now, it has exported locally crafted giant statues to increase the country's income.
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The market volatility, rising dollar and sluggish global economy are forcing foreign investors towards the US small business credit market for growth opportunities. Foreign investors generally prefer to invest in US treasury bonds. But the prevailing global conditions are propelling them to park their funds in small business credit market.
UK-based Vodafone and US cable group firm Liberty Global are combining their operations in Netherlands market to float a joint venture. The combined JV is expected to be operational by end of 2016. Vodafone has agreed to pay €1 billion (£770 million) after excluding Ziggo's net debt of €7.3 billion.
Data analysis company Palantir Technologies Inc acquired Kimono Labs to increase its data collection capacity. Following the acquisition, Kimono Labs will shut its service on February 29, 2016.
PROFEPA has fined Volkswagen México with $8.9 million for lacking two NOM environment compliance certificates. The 45,494 imported vehicles under penalty include Volkswagen's 2016 model vehicles. However, the fine is separate from the ongoing probe on defeat device installation on diesel powered vehicles.
Iran has started to export its crude oil to Europe after a landmark nuclear deal was achieved. The sanctions lifting becomes a new chapter for Iran to rebuild its oil industry, and increase the production per day.
A former Managing Director of CVC Capital Partners (US) Inc has moved court against the private equity (PE) firm over gender-discrimination. Lisa Lee, who complained against the company, has alleged that the firm was favoring male employees in more of unfair way.She criticized the company's measures in promoting less qualified male co-workers over her.
The Philippines' largest company, San Miguel Corporation will sell bond to small investors. The company is aiming to cut dollar-denominated debt and protect its earnings.
Thai economy has reportedly grown 2.8% in 2015 while expected to grow by 2.8%-3.8% during 2016. The military ruler is about to loss support from the middle class segments due to sluggish economic growth. However, the growth in foreign investment portfolio brings some hope for the military ruler to boost up the economy.
Auction For Marcos’ Jewelry Collection Appears To Be An Electoral Propaganda By Philippine President
The Philippine government has assigned the PCGG to recover ill-gotten wealth of former dictator President Marcos. The commission has announced on Friday exhibition and auction of a jewelry collection allegedly owned by Marcos and family. PCGG has revealed that the collection to be offered for auction has been appraised for at least ₱1 billion ($21 Million).
