Wal-Mart CEO and President Mike Duke will officially step down on Feb 1, 2014 and will be replaced by Doug McMillon who is the head of Wal-Mart's international division. Duke will continue his role as Chairman and will be advising the new CEO for a year.
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Krishnan to cut costs in Malaysian telcom Binariang GSM via potential USD1.9 bond sale - source
An unnamed source was cited by Bloomberg who said Malaysian billionaire Ananda Krishnan's Binariang GSM Sdn will decide whether to pursue its sale of around MYR6 billion or USD1.9 billion of Islamic bonds before the year ends.
Harvard professor says cooperation can transform businesses
In a speech delivered at Tel Aviv, Harvard Professor Yochai Benkler said cooperation and not self-interest can generate new ideas and transform businesses in today's knowledge economy.
EQT's Conni Jonsson speech stirs private equity industry to reflection-report
At the SuperInvestor conference held in Paris, EQT Partner Managing Partner Conni Jonsson tackled the difficult issues faced by the private equity world, leading the industry to reflect on where it is headed.
Gazprom expands media business with Profmedia acquisition
Despite investor criticism it received for paying more investment attention on its non-core division, Gazprom announced on Tuesday in a joint statement that it had acquired Profmedia from metals tycoon Vladimir Potanin.
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Allies of Russian President Vladimir Putin will reportedly get upset about the Russian state chief's latest economic policy to freeze prices starting next year, Bloomberg said in its report.
The acquisition by Virgin Connect-affiliate Trivon AG of The MegaMax Group in the Nizhny Novgorod region of Russia dispelled a rumor about the former's business in trouble in the region.
Hunter Walk and Satya Patel's creation of venture capital firm Homebrew was spawned out of the need to provide private equity investors accountability in their investments.
In his interview with The Cornell Daily Sun, former analyst of private equity firm Blackstone and incoming associate of venture capital firm New Enterprise Associates Andrew Schoen explained why venture capitalists exist.
A Bloomberg report said the move to get former CBS anchor Katie Couric to join the team at Yahoo! Inc was an accelerated effort of Chief Executive Officer Marissa Mayer's efforts to reinvigorate the tech giant's business.
The move of former Shenzhen Development Bank Chairman Xiao Suining to a private equity company was not very common among top Chinese bankers, according to a report from the South China Morning Post.
Representatives from the German service sector Union Verdi, informed the public that they plan to walk out for at least one day on Monday. It has already organized several short strikes this year in a bid to force Amazon to accept a collective agreement on a dispute over pay and work conditions.
Abu Dhabi-based investment firm, The National Investor (TNI), has appointed a new chief executive officer to replace Orhan Osmansoy, who resigned after nine years at the helm, the company said in a statement on Sunday.
Matteo Stefanel, a senior partner at emerging markets-focused private equity firm Abraaj Group, has left the company, two banking and industry sources aware of the matter said.
