Groupon's choice to cut revenues results in net operating loss and falling profits. According to one analyst, the forecast is underwhelming for Groupon, whose share values lost nearly one fourth of its value.
North America
Goldman Hires Overton
Goldman Sachs hires Amy Overton, former VP for Citigroup. Lobbyist Amy Overton, formerly of Citigroup Inc, has taken a job with its nearest rival, Goldman Sachs Group Inc.
Liberty to Determine Next Barnes and Nobles Chairman
Barnes and Noble Chairman to decide future of the book retailer. A bloc stakeholder in Barnes and Nobles retail stores, Liberty Media Corp, has said it has the power to veto a sale of assets of the company.
Liquidation Plan for Dewey and LeBoeuf Approved
Dewey and LeBoeuf bankruptcy plan approved. A federal bankruptcy court ordered the approval of the liquidation plan for Dewey and LeBoeuf. This is a milestone for the closure of the collapsed law firm to pave the way for creditors to recover their losses.
BCBG Max Ariza to Consider Company Sale
BCBG Max Azria Group Inc. has been consider to be sold as it faces financial struggle. Fashion house BCBG Max Azria Group Inc. is set to launch company sale that would draw around $1 billion, according to sources familiar with the matter.
Latest News
Office Depot shareholder Starboard has been calling for the sale of Mexican joint venture. Starboard Value LP has urged the shareholder board of Office Depot to explore the sale of its Mexican joint venture interest.
Juniper rethinking future after sales plans fell through. Juniper Network is reviewing its current business focus of enterprise networking businesses after discussions failed to materialize as to the sale of its assets.
Max Levchin, one of the co-founders of online payment mogul Paypal has launched a business competitor last Tuesday.
Giant mall builder to expand to UK and US. Westfield Group is planning to increase its investments in both the US and UK to capitalize on the increasing retail demands in these countries.
Clearwire is in bed with two financial suitors, namely Sprint Nextel and Dish Network. In a report by the Wall Street Journal, Clearwire Corp is planning to seek financing assistance from Sprint Nextel.
EdR expands with Elauwit. EdR, a market leader in the ownership and operations of collegiate housing has announced that it has purchased a 10% stake in Elauwit Networks, a service provider of Internet access, telephone and video services.
Proxy advisers clamoring for job split for Disney's Iger. Walt Disney Co. shareholders have been advised by proxy advisers ISS and Glass and Lewis & Co to urge the split of CEO and Chairman duties currently held by Robert Iger.
Orbimed expands into Indian healthcare industry. Orbimed Advisors of New York is now preparing to launch its second Pan Asia Healthcare Fund by the end of 2013.
THQ bankruptcy court to supervise asset sale. In an announcement, THQ Inc has announced that it would be selling its remaining intellectual properties through a Court supervised sale auction.
