The legal battle running for 13 years between hedge fund investor Paul Singer and Argentina is over as both the parties have reached to an agreement. Singer's Elliott Management will get $4.65 billion cash from the Argentina government as part of the deal.
Industry
Honeywell Drops Its Bid of United Technologies
After United Technologies refused its $90.7 billion offer, Honeywell announced on Tuesday to stop its effort in acquiring its rival company. United Technologies refused the offer because of regulatory concern.
After American International Group, Metlife Sells Adviser Unit To MassMutual For $300 Million
The US Department of Labor has proposed a fiduciary rule which is believed to cause increase cost for brokerage business. The proposed rule is now being reviewed by the Office of Management and Budget. But fearing enactment of tougher rules, Metlife has announced on Monday selling its US adviser unit to MassMutual for $300 million.
Google Invest $30 Million for Digital News Initiative in Europe
Last week, Google announced to invest $30 million to news organizations in Europe. This is a part of the Digital News Initiative plan launched by the Internet giant.
Morgan Stanley Focuses on Asset Management, To Recruit 75 Advisers For Latin American Investors
Eroding revenue from bond trading and other core services, Morgan Stanley has changed its business focus towards asset management business. It has also focused on Latin America to procure investment in US businesses. To ensure the business hunting, the banking giant has planned for appointing 75 advisers for this region during this year.
Latest News
Lamborghini is celebrating its founder’s 100th birth anniversary. To mark the day, the lavish car maker has unveiled a new Lamborghini Centanario supercar equipped with its signature V-12 engine. All the 40 production edition of the model has already been sold out which are scheduled to be manufactured within 2017.
Joyce Phillips, head of Australia & New Zealand Banking Group's wealth management business, is stepping down from the bank after a restructure of wealth business. The restructuring move will reduce the bank's expenses.
Porsche is constructing its residency tower with hydraulic lifts that could transport residents’ cars to the garage next to their units. The garages will have floor-to-ceiling windows right outside the living room, where car enthusiasts can keep and enjoy their cars in the luxury personal garage while enjoying the buildings post amenities.
Spain-based Caixabank is planning to buy the stake of Isabel Dos Santos in Portugal's Banco BPI SA. The negotiations over the acquisition are still going on and may be completed soon.
The world's second largest economy will lower threshold for foreign investments in 2016. The Commerce Ministry of China has confirmed that the government is in the process of lowering the limit on foreign investment for 2016 year. China recorded 6.4 percent growth in foreign direct investment during 2015.
Canada-based Bank of Nova Scotia witnessed a strong profit surge as banking activity in domestic and international operations rose. Scotiabank has increased provision for bad loans in the oil and gas sector. The bank is expanding in Mexico, Chile, Columbia and Peru.
The Dell's acquisition of EMC Corp for $59 billion is going ahead as per the schedule. EMC shareholders are expected to vote on the deal in May. Dell's Michael Dell said in a memo that the deal would be completed according to the stipulated schedule.
Florida Institute of Technology (FIT) have developed a new type of astronomical camera that can spot faint reflections of distant worlds near bright stars millions of times better than that possible with an ordinary telescope.
B.C. clean-tech companies have requested Prime Minister Justin Trudeau to allocate a $500 million venture capital (VC) fund. An alliance comprising 51 clean-tech and investment firms from B.C. province has written a letter to the Prime Minister Trudeau to extend support to clean-tech industry.
