Philanthropist and Microsoft co-founder Bill Gates suggested the state of Norway should invest a portion of its massive USD800 billion wealth fund to countries in Asia and Africa.
Sectors
Peltz's Trian Fund sells 1.86 million shares in State Street
Trian Fund Management LP, an alternative investment fund, had put its stake in State Street Corp up for sale. It sold 1.86 million shares worth USD121.5 million. Trian Fund was founded by activist investor Nelson Peltz.
China reveals major plans in economic and social reforms following leaked document
Top leaders of the Chinese government released its plans to make major reforms in the economy and social systems, and vowed that such reforms would make decisive results by 2020.
Warrnambool board gives approval of revised takeover bid by Saputo
Canadian dairy company Saputo Inc was one step ahead of clinching the win to take over Warrnambool Cheese and Butter Factory Co Holdings Ltd, when the former's revised bid received the recommendation of the latter's board of directors.
ECB reduces amount of banks' crisis loan payments but urges them to pay next week
The European Central Bank's attempt to reduce the excess liquidity levels of banks in the financial system had prompted the central bank to call on banks it had loaned to repay its debts at a reduced rate.
Latest News
Chicago-based marketing technology BrightTag secured USD27 million funding from Yahoo! Japan. The Japanese internet company's investment brought BrightTag's fund total its has raised so far to USD50 million.
As preparations regarding a potential merger between Vodafone Group Plc and AT&T Inc was happening, Paulson & Co said in its regulatory filing that it had increased its ownership stake in the phone company.
Multinational telecommunications company CenturyLink Inc. said it will sell USD750 million in newly-issued unsecured senior notes due in 2023. Proceeds from the offering will be used to repurchase 2018 notes of its subsidiary Qwest Communications.
Atlanta, Georgia-based healthcare management solutions provider Streamline Health Solutions Inc announced its intention to acquire two companies to improve its existing solutions for patient care.
Peer-to-peer financial lending platform Ppdai received a significant investment worth USD35 million from the financial arm of Alibaba Group, said sources who were familiar with the transaction.
A column at the The New York Times' The Dealbook argued that money managers and investors should take responsibility for betting on bad investments and that it should be their utmost responsibility to do research, especially when investing other people's money.
Japan-based Secured Capital, the real estate arm of private equity firm PAG, raised USD1.5 billion to invest in real estate and debt opportunities in Asia.
State-controlled Russian airline Aeroflot told Reuters the company will neither buy nor financially aid Italian airline Alitalia despite being repeatedly named by Italian officials as a potential backer.
American investment firm Apollo Global Management LLC raised USD3.9 billion to buy distressed European assets. Specifically, the private equity firm is hunting for hotels and resorts in Spain.
