Following Valeant Pharmaceuticals' meltdown, S&P rating service puts Pershing Square Holdings Ltd on review. However, S&P acknowledged swift decision by the firm to strengthen its liquidity after a massive loss.
Industry
India moves WTO over US doubling visa fees
India is seeking World Trade Organization's (WTO) intervention over increasing visa fees by the US. The visa fee for H-1B has been doubled to $4,000 and it's $4,500 for L-1 visa, as fixed by the US government.
China's consumers spending rise on spas, travel, entertainment
Chinese consumers are spending more on spa visits, travel and entertainment as income levels are on upward movement. The consumer spending is expected rise 10 percent annually for the next decade.
China's Anbang to Acquire Starwood Hotel Group At More Than $13 Billion Bid
Starwood is about to dump Marriott's offer in favor of Anbang's more than $13 billion bid for the acquisition. If the deal pushes through, Starwood will pay Marriott a breakup fee of $400 million. Marriott has been given five days to counterbid.
Bankruptcy Looms Over Peabody Energy, Files Chapter 11 Sooner or Later
Peabody is facing difficulties as it shares declined sharply the past year. It is considering to file Chapter 11 sooner or later to protect it from creditors while restructuring the company and recovers from the large loss.
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Following another quarterly loss, the clothing company is in rush to find the best option. That includes putting the company on sale.
Pacific Exploration & Production Corp is actively examining six buyout offers. The Canada-listed company is in the process of avoiding bankruptcy. The company's board is likely to take its final decision by this weekend.
TransCanda has announced on Thursday its acquisition of Columbia Pipeline for $13 billion in total, enabling the energy giant to represent itself as a dominant player in the businesses of natural gas across the North America. The deal appears following a series of announcement for merger in the energy sector including $2.3 billion deals in 2016.
Alphabet's Google has landed Apple as a customer for its cloud computing platform. Apple has started to store part of its cloud service in Google cloud platform, while also building its infrastructure.
EDF has been witnessing a stretched balance sheet mainly due to lower power tariff. The French utility’s CFO has resigned this month protesting go ahead with the Hinkley project citing its indebted status. However, French government has assured of financial bailout for EDF to go ahead with the project considering future business prospect.
Google launched new product targeting enterprise marketers on Tuesday. The Google Analytics 360 Suite will go head to head with Adobe and Oracle product in enterprise Internet marketing.
Bouygues SA is probably going to be acquired through a multi lateral deal. Though the deal appears for €10 Billion in total, Altice will have to pay €4 Billion. The rest deal amount will be paid by Orange SA, SFR and Illiad SA.
JPMorgan board has announced the approval of $1.88 billion buy-backs in stock. The recent buy back decision follows its earlier precedence of repurchasing stock for $6.4 billion. The board has allowed flexibility in timeframe and quantity of purchased shares or even pulling out from the decision at company’s own discretion.
Automatic emergency braking systems have proved their efficiency in preventing car accidents. The systems may reduce the number of rear-end collisions by up to 40%. Considering the efficacy level, almost all US automakers and NHTSA have reached an agreement to make the system a standard equipment on most cars by 2022.
