The southern California city of San Bernardino has defaulted on nearly $10 million in payments on its privately placed pension bond debt since it declared bankruptcy in 2012, according to documents seen by Reuters.
Deals
Holcim and Lafarge revise terms to get merger back on track
Switzerland's Holcim (HOLN.VX) and France's Lafarge (LAFP.PA) have agreed new terms for their plan to create the world's biggest cement company, giving unhappy shareholders in the Swiss firm a better deal.
GoDaddy's IPO to value Web hosting company at up to $2.87 billion
Web hosting company GoDaddy Inc's initial public offering is expected to value the company at up to $2.87 billion and comes at a time when there has been a steep fall in the number of companies going public in the United States.
Allianz hedges stake in CPIC through $700 million deal with Goldman
Allianz SE struck a deal with Goldman Sachs to help the German company hedge part of its stake in China Pacific Insurance Group (CPIC) and lock in profits from two rounds of investments that Allianz made in China's third-largest insurer.
Starbucks partners drinks maker Tingyi to expand in China
Starbucks Corp (SBUX.O) will partner Taiwanese drinks maker Tingyi Holding Corp (0322.HK) to produce and sell ready-to-drink (RTD) beverages in China, becoming the latest global firm to latch on to a local peer to expand in the tricky market.
Latest News
A new privately held Malaysian airline intends to buy 20 Bombardier Inc (BBDb.TO) CS100 aircraft for $1.5 billion, in what could be the Canadian planemaker's first order in Southeast Asia for its long-delayed CSeries passenger jet program.
U.S. arms maker Raytheon Co is in talks to buy network-security company Websense Inc, owned by private-equity firm Vista Equity Partners LLC, Bloomberg reported citing people familiar with the matter.
Valeant Pharmaceuticals International Inc said it increased its offer for Salix Pharmaceuticals Inc to $10.96 billion in cash, topping Endo International Plc's bid of $10.93 billion in cash and stock for the bowel drug maker.
New Zealand's Fonterra Co-operative Group Ltd (FCG.NZ) said it paid $553 million for a near 20 percent stake in China's Beingmate Baby and Child Food Co. Ltd (002570.SZ), as it looks to boost its presence in the country's branded dairy industry.
A group comprising KKR & Co, Varde Partners and Deutsche Bank are looking to securitize about A$7 billion ($5.33 billion) of debt they acquired from a unit of GE, three sources with knowledge of the matter said.
Bankers running the expected A$3 billion ($2.29 billion) initial public offering of Australian software firm MYOB Ltd, owned by Bain Capital, plan to file a prospectus for the sale by end-March, two people familiar with the matter told Reuters.
A consortium of private equity firm KKR & Co LP (KKR.N), alternative investment manager Varde Partners and Deutsche Bank (DBKGn.DE) has agreed to buy GE Capital's Australian and New Zealand consumer lending arm for A$8.2 billion ($6.26 billion).
Luxembourg's Griffin Real Estate and U.S. investment fund Pimco have agreed to buy Polish billionaire Michal Solowow's 41.55-percent stake in business space developer Echo Investment, the Polish company said late on Friday.
The U.S. Federal Communications Commission on Friday paused its informal 180-day countdown to deciding the fate of two mergers - Comcast Corp's with Time Warner Cable Inc and AT&T Inc's with DirecTV.
