Cargo airline Evergreen International Airlines Inc. on December 31 filed for bankruptcy protection in the US Bankruptcy Court in Wilmington, Delaware. Seven other Evergreen affiliates also sought Chapter 7 protection.
Sectors
Gold, silver, rallies after worse year for precious metals
Despite recording huge losses in 2013, gold and silver investments are seen increasing, and analysts attributed these to the improving major economies, including the US.
Google to shut down Bump, Flock after $30-$60M acquisition deal
Google Inc., which acquired startup Bump Technologies last year for $30 million to $60 million, will end the operations of smartphone file-sharing app Bump and photo-aggregating software Flock on January 31.
FT report says optimistic outlook in store for African private equity industry in 2014
The African private equity industry in Africa may be young and subject to various shortcomings but political stability, infrastructure growth and increasing consumer activity has given it a more positive outlook for this year, the Financial Times reported.
Institutional investors thank 2013 for record gains- report
The Wall Street Journal reported that institutional investors will best remember 2013 as a year of record gains, as buoyant markets facilitated IPOs and debt deals that paid hefty dividends.
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Indian companies were able to get private equity deals worth $10.68 billion in 2013, an increase of 12% in value terms compared to that of the previous year.
Northern & Shell, the owner of Channel 5 Broadcasting Ltd., is reportedly considering to put up the TV broadcaster for sale for £700 million. Northern & Shell acquired Channel 5 for £103.5 million in 2010.
The global private equity industry closed 2013 with "dry powder" amounting to $1.074 trillion, a figure much higher than the previous record high of $1.067 billion posted before the 2008 global financial crisis.
Private equity companies are buying the debt of the companies they own so they can become creditors and have a second shot at making money on their investments.
India's Bombay Bullion Association, a traders' group representing 1,000 jewelers and traders, plans to buy a 5% stake in the Multi Commodity Exchange of India Ltd after the Forward Markets Commission said its founder was not eligible to run the bourse.
Italian automaker Fiat SpA has agreed to buy the remaining stake of Chrysler Group held by the United Auto Workers retiree healthcare trust, paving the way for both carmakers to finally merge.
Private equity firms are increasingly seeking to partner with U.S. companies rather than buying them outright, as they struggle to find ways to put their huge piles of money to work at a time when frothy markets have made takeovers expensive.
Commodity hedge fund Higgs Capital Management, which manages some $250 million, will wind down and return money to investors, its founders said in a note on Monday.
Which emerging and frontier market countries were the best stock performers in dollar terms in 2013?
Which emerging and frontier market countries were the best stock performers in dollar terms? Time for an end of year quiz. Which emerging and frontier market countries were the best stock performers in dollar terms?Nil points if you said China, with its colossal internal market, recession-free Poland, or oil-rich Nigeria.
