For venture capital firm Atomico founder Niklas Zennström , Silicon Valley is not the only technology hub where great firms can come from. He says they can come from anywhere.
Europe
Panama Canal Authority, Spanish-led consortium to keep $7B Panama Canal expansion project running
The Panama Canal Authority and a building consortium led by Spain's Sacyr Vallehermoso SA on Tuesday agreed to put up at least $100 million each to keep the Panama Canal expansion project running. The two parties are at odds over who should pay for $1.6 billion in project cost overruns.
Citizens Financial Group to exit retail branches in Chicago area to US Bancorp
Citizens Financial Group, a unit of the Royal Bank of Scotland, said it had agreed to exit its Chicago area retail branches and small business operations to US Bancorp.
Sweden's Sandvik agrees to purchase Texas-based Varel International Energy Services
Sandvik, a high-technology engineering firm based in Sweden, has agreed to buy Texas-based Varel International Energy Services for a price tag of about $740 million.
World's largest dairy group buys India's Tirumala Milk Products for $275M -sources
Le Groupe Lactalis reportedly acquired India's Tirumala Milk Products for $275 million. Lactalis bought the 74% stake held by Tirumala Milk's founders and the remaining 26% from private equity firm Carlyle Group.
Latest News
Oil and gas companies in the West, like that of Scotland-based Weir Group, are heading to China to bet on the birth of the country's shale gas industry, the Financial Times reported.
Borrowing costs for the Eurozone countries that experienced the brunt of the crisis dropped after a high demand from investors for 10-year bonds offered by the Irish government, the Financial Times reported.
Bourbon, a Paris-based operator of supply and crew ships for the oil industry, sold a dozen vessels to China's ICBC Financial Leasing as part of its plan to make a dent on its debt, Bloomberg reported.
China's state-owned Greenland Holding Group will invest £1.2 billion ($2 billion) on two property projects located in Wandsworth and Canary Wharf in London. The real estate developer is also looking to enter Canada, France and Singapore this year.
Denmark-based oil and shipping conglomerate AP Moeller Maersk AS said it will reduce its ownership in Dansk Supermarked and F. Salling in a deal that will generate proceeds of about DKK17 billion.
Altice, founded by French-Israeli phone-industry entrepreneur Patrick Drahi, seeks to raise €750 million ($1 billion) in an initial public offering at the Amsterdam Stock Exchange. Proceeds from the deal will be used to reduce its debt.
Citing sources, Bloomberg reported that Germany-based Deutsche Bank had hired Yusof Annuar Yaacob, Malaysia's Chairman for Corporate Finance of Goldman Sachs Group Inc, to become the lender's country head in Malaysia.
News website Mashable takes on funding from outside investors for the first time, raising 13.3 million in its Series A funding round led by growth equity firm Updata Partners.
Petroleum companies Royal Dutch Shell and BP are reportedly looking to sell its oil refineries and petrol stations in Australia to generate cash for their energy production business segments. Chevron Corp. reportedly may follow suit and exit its service stations in the country.
