Sears Holdings Corp, which had been selling and closing stores to turn around its business, will be spinning off its Lands' End clothing business. The spinoff will be through a pro rata distribution of the apparel retailer's shares to Sears shareholders.
Sectors
Bitcoins no longer accepted on Baidu
After the government announced a ban on the use of Bitcoin for financial institutions, China's biggest search engine Baidu Inc announced that it would no longer be accepting the digital currency as payment.
Verizon to vote on USD130 billion Vodafone wireless deal early next year
Verizon Communications Inc. in September said that it will acquire Vodafone Group's 45% stake in their wireless joint venture. The American telco has set a shareholder meeting on January 28 to get investor approval for the deal.
Disney gains rights for future Indiana Jones films after Lucasfilm takeover
Following its USD4.6 billion purchase of Lucasfilm in 2012, Walt Disney Co. has secured marketing and distribution rights over future Indiana Jones installments under an agreement with Paramount Pictures.
Lamborghini dealership sells Tesla's Model S using bitcoin
California dealership Lamborghini Newport Beach marketing director Cedric Davy clarified that its sale of a Tesla Motors Inc. Model S electric car via Bitcoin did not mean the company is in the business of speculation.
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Oxford Instruments on Friday upsized its bid for Northern Ireland's Andor Technology to GBP525 per share. Andor Technology turned down Oxford's previous offer of 500 pence per share in cash.
US District Judge Mariana Pfaelzer gave final approval to the USD 500 million class action settlement between Bank of America's Countrywide unit and its investors.
Private equity firm Carlyle Group is mulling over an initial public offering or an outright sale of inorganic specialty chemicals producer PQ Corp. Sources said that the proposed deal could bring in USD3 billion.
A report said the dearth of women in the leadership ranks of the private equity industry can be solved in the natural evolution of the private equity business model.
Britain's Barclays PLC, Japan's Nomura and the Royal Bank of Canada are leading the loan financing for Hellman & Friedman LLC's buyout of Scout24. The classified advertising business will be bought for EUR700 million in debt funding.
Chief Executive Officer John Donahoe of eBay Inc said in an interview with Emily Chang on Bloomberg Television that the use of drones to deliver products to consumers is a fantasy.
American private equity firm Jordan Company has put up for sale its chemical management business Haas Group International. Sources estimated that the deal could be valued in between USD500 million to USD700 million.
Former Goldman Sachs Group Inc trader Matthew Taylor was given a prison term of nine months for concealing an unauthorized USD 8.3 billion trading position in 2007.
Former Square Wallet technical lead David Byttow and former Google product manager Chrys Bader-Wechseler are raising USD1.2 million in seed funding for their new startup called Secret.
