Global Financial Integrity, a Washington-based group that tracks illicit financial flows from developing countries, reveals that nearly $1 trillion were lost to illicit transactions in 2011.
Foundations
US food tech firm Aseptia raises $28M in Series C funding round
Raleigh, North Carolina-based Aseptia, a food firm that developed a technology that allows food to stay fresh without refrigeration and preservatives, raised $28 million in Series C funding which will fund the growth of its subsidiary Wright Foods.
Science activist Jeffrey Epstein and Jeffrey Epstein VI Foundation back Harvard study on advantages of music to premature babies
Jeffrey Epstein and the Jeffrey Epstein VI Foundation has substantially backed a Harvard study looking at the effects of music on reducing the stress of premature infants.
Former executive editor Bill Keller to leave New York Times for news startup
New York Times columnist and former executive editor Bill Keller will be leaving the American media firm to become the editor-in-chief of nonprofit news startup The Marshall Project on March 1.
Apollo raises biggest private equity fund since US financial crisis
New York, US-based firm Apollo Global Management LLC announced on Thursday that it had raised $17.5 billion for the Apollo Investment Fund VIII, the largest private equity fund raised since the financial crisis.
Latest News
SunFarmer, a non-profit developer of solar power in impoverished areas, will construct its first solar power project in Nepal using a USD2 million grant from SunEdison Inc. SunFarmer is seeking donations to build 100 solar projects in the country.
Wikimedia Foundation Inc., operator of the world's #5 website Wikipedia, on Tuesday began its new crowdfunding campaign. The foundation seeks to raise USD50 million, up from the USD30 million it raised last year.
The increasing number of new hedge funds by global banks and asset managers in Asia threatened the business of smaller firms who had opened their independent firms just after the 2008 financial crisis.
Giorgio Olivato, vice chairman of a foundation that is Monte Paschi's largest shareholder, has resigned from office for unknown reasons. Sources, however, said that Olivato opposed the foundation's plan to sell its stake in the Italian bank.
A USD 1.6 million Small Business Innovation Research Phase II grant was awarded to biopharmaceutical company Signum Dermalogix from the National Institute of Arthritis and Musculoskeletal and Skin Diseases.
After moving to block an attempted takeover of Royal KPN NV by Carlos Slim's America Movil, KPN Foundation was considering exiting its ownership stake in the Dutch phone company.
The Office of Fair Trading said the joint venture between University College London Hospitals, the Royal Free London and The Doctors Laboratory did not threaten competition in the pathology services market.
The Russia China Investment Fund acquired the Russian Forest Products Group. The Russia-China Investment Fund had announced the completion of an acquisition of an approximately 42% stake in RFP Group, a leading forestry holding firm in the Far Eastern region of Russia.
The partnership of Deere Co., DuPont Co., and the Howard G. Buffett Foundation would undergo its first project in Ghana's cocoa production region.
