Philippine-based bank Rizal Commercial Banking Corp (RCBC) has completed the sale of its 65% stake in credit card issuer Bankard Inc to RYM Business Management Corp, according to a disclosure to the Philippine Stock Exchange.
Sectors
Carme sells stake in Canada's Alliance Grain Traders for $28M
Carme Trust announced the completed sale of its 1.87 million shares in Canada-based lentil and pea splitting group Alliance Grain Traders Inc (AGT) in a deal valued at $28 million.
Finland food group HKScan exits stake in Swedish meat firm
Finland-based food group HKScan has inked an agreement to divest its 49% stake in Switzerland-based meat company Nyhlens & Hugosons Chark for €2.2 million ($3 million) in cash.
Hungary to divest stake in savings bank Takarekbank
The government of Hungary eyes the sale of its majority stake in savings bank Takarekbank, according to a government decree reported by Magyar Kozlony, the country's official gazette.
Jos. A. Bank tightens poison pill requirements
Retailer Jos. A. Bank Clothiers on Friday amended the ownership threshold of its poison pill to 10% from 20%. The amendment would enable Jos. A. Bank to issue a large number of shares to existing shareholders in case an unsolicited buyer acquires 10% of the company.
Latest News
The data released in a report by the European Central Bank on Friday saw the hesitation of financial institutions in extending credit to households and businesses despite the economic recovery of the Euro Zone.
South Carolina-based 3D printing solutions provider 3D Systems bought California-based 3D modeling firm Gentle Giant Studios for an undisclosed amount just a month after announcing its intention to acquire Xerox Corp's engineering group.
Countries in emerging markets like Turkey and India should see the bright side of the tapering of the $85 billion-a-month money-printing program by the US Federal Reserve this month, according to a Reuters report.
The yields of Spanish bonds have dropped to record lows not seen since 2011, indicating that the European economy is gaining its momentum, a Bloomberg report said.
45 year-old recycling magnate Chen Guangbiao, whose charity works and publicity stunts are more known rather than his business sense, has claimed that he will be extending an offer to acquire the New York Times Co for $1 billion.
In an attempt to argue against beliefs that this year will bear witness to a lot of bubbles, Jeff Bussgang said on his report that the technology sector will be contributing majority of groundbreaking records in terms of initial public offerings.
Shares in Tata Teleservices rallied to as much as 14.79% on Friday following news on buyout talks with British telecom company Vodafone. Indian conglomerate Tata Group is reportedly in talks with Vodafone to sell its 59.45% stake in Tata Teleservices.
John Hancock Funds and Merk Investments LLC, the top US foreign-exchange mutual funds who earned profits last year, had opposing views about the US dollar's performance this year, a Bloomberg report said.
A report by brokerage Douglas Elliman Real Estate and appraiser Miller Samuel Inc released today indicated an influx of home property sales in the Manhattan, New York area in anticipation of increasing prices and interest rates.
