US Federal Reserve Vice Chair Janet Yellen showed strength and loyalty in a two-hour confirmation hearing with the US Senate Banking Committee regarding her nomination for the Fed Chairman role.
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Turquoise Hill prepares USD2.4 billion rights offer for Mongolia mine
Vancouver-based Turquoise Hill Resources Ltd said it would go ahead with a USD2.4 billion rights offer for Mongolian copper mine Oyu Tolgoi after the company failed to secure long-term funding for the expansion of the mine.
Generali buys minority stake in Generali Asia for EUR40 million
Italian life and non-life insurance company Generali bought a 40% stake in Generali Asia for EUR40 million. Generali Asia is a joint venture of Generali and Banca della Svizzera Italiana in Switzerland.
Jefferson County plans USD 1.7 billion sale of sewer warrants
The state of Jefferson County, Alabama planned to sell sewer system securities worth USD 1.7 billion to pay off its debts to its creditors. Jefferson County is still under bankruptcy protection.
Kimberly-Clark plans to split from its healthcare business
According to its Chief Executive Officer and Chairman Thomas Falk, Kimberly-Clark decided to spin off its healthcare division as the division no longer fit in the strategic and growth priorities of the company.
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Data released by mutual group Investment Company Institute showed an overall drop of money market mutual fund assets in retail, institutional, taxable funds, and tax-exempted fund segments.
Ryan Corporation UK acquired a site in Canary Wharf, a business district in London, for GBP 100 million. The property company owned by Tom Ryan aimed to build a residential building that will tower over the highest building on the site.
Russian millionaire and entrepreneur Yuri Milner recently led a Series B funding round for genetics upstart GenapSys for the commercialization of the company's genome-sequencing platform.
Seattle-based online clothes retailer Zulily Inc raised its initial public offering (IPO) price to USD22 per share above the previously expected range of USD18 to USD20 per share.
Lone Pine Capital increased its holdings in online companies by buying shares in China-based search engine Baidu Inc and ecommerce firm Amazon.com Inc. The fund also bought shares in MasterCard Inc.
Fee examiner Richard Stern recommended to Judge Allan Gropper that USD 240 million in fees and expenses be paid to Eastman Kodak Co's lawyers and advisers.
Hedge fund firm Viking Global Investors obtained 44.9 million new shares in Bank of America in a deal worth USD 620 million near the end of September.
Herbalife Ltd fourth largest shareholder Bill Stiritz said he would most likely take part in a leveraged buyout of the company, as the nutrition company is in the middle of pyramid scheme accusations by hedge fund manager Bill Ackman.
Global asset management firm The Carlyle Group will buy a majority stake retail insurance brokerage company Edgewood Partners Insurance Center. Details of the deal, however, were unknown.
