A rise of mega donations in universities had been seen by individuals as a form of repayment to their educational attainment and career successes, said a philanthropy expert.
Sectors
Ppdai lands USD35 million investment from Alibaba Finance
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.
Creditors should not blame ratings for bad debts - column
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.
Secured Capital closes USD1.5 billion for Asian investments
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.
Aeroflot rules out financial aid for Alitalia
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.
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A Reuters report said hedge fund managers in the US bought and exited from shares of hotly-debated firms like retailer JC Penney, nutrition and weight management company Herbalife Ltd and auction house Sotheby's.
Boston-based hedge fund Highfields Capital Management exited from its stake in JPMorgan Chase & Co and Oracle Corp and halved its holdings of Capital One Financial Corp.
Vancouver-based Turquoise Hill Resources Ltd said it would go ahead with a USD2.4 billion rights offer for Mongolian copper mine Oyu Tolgoi after the company failed to secure long-term funding for the expansion of the mine.
Italian life and non-life insurance company Generali bought a 40% stake in Generali Asia for EUR40 million. Generali Asia is a joint venture of Generali and Banca della Svizzera Italiana in Switzerland.
The state of Jefferson County, Alabama planned to sell sewer system securities worth USD 1.7 billion to pay off its debts to its creditors. Jefferson County is still under bankruptcy protection.
According to its Chief Executive Officer and Chairman Thomas Falk, Kimberly-Clark decided to spin off its healthcare division as the division no longer fit in the strategic and growth priorities of the company.
The French government hoped to help fund new state investments and boost national economy by divesting 3.5% of its stake in jet engine maker Safran.
United Kingdom-based Apax Partners aimed to become one of the largest equity holders of textbook publishing company Cengage Learning Inc after the latter exits from bankruptcy.
US Federal Reserve Vice Chair Janet Yellen showed strength and loyalty in a two-hour confirmation hearing with the US Senate Banking Committee regarding her nomination for the Fed Chairman role.
