Lawrence Rakers will be replaced by Ramona Persaud as the manager of Fidelity Dividend Growth Fund and Fidelity Advisor Dividend Growth Fund starting January 1, Bloomberg reported.
United States
Textron okays $1.4B acquisition of Beechcraft Corp
Cessna aircrafts and Bell helicopters maker Textron Inc said it had approved the purchase of Beechcraft Corp in a deal worth $1.4 billion, Bloomberg reported.
No slump on Boxing Day as UK shoppers spent over £2.7B
A holiday shopping season slump failed to materialize in the UK as shoppers flocked to stores on Boxing Day, giving British retailers a boost, The Telegraph reported.
San Francisco stealth startup Pushd bags $1.04M for new app
San Francisco, US-based secretive startup Pushd raised $1.04 million in a recent funding round from unidentified investors, according to a document filed with the US Securities and Exchange Commission.
Steep discounts raise doubts on profitability of retailers
While shoppers in the UK and the US spent more for the holidays this year, the profit margin for retailers remains in doubt due to steep discounts, the Financial Times reported.
Latest News
LightSquared is proposing a new bankruptcy exit plan with financing from Fortress Investment Group and other backers, as the U.S. wireless communications company seeks to avoid a sale to highest bidder Dish Network Corp.
Dogecoin, which grew from a satirical meme to Bitcoin to a pseudo-legitimate currency, experienced a big hack today after virtual wallet Dogewallet announced its shutdown of services due to hackers who stole around $12,000 worth of Dogecoins from the site.
Plain Vanilla Games, maker of iPhone trivia matchup game app QuizUp, raised $22 million in Series B funding from investors led by Sequoia Capital Partners.
A filing with the US Securities and Exchange Commission revealed that Aptalis Holdings Inc has plans to conduct a share sale on the Nasdaq Stock Market and raise up to $500 million in the process.
Islamic banks want to diversify their investments outside of the Middle East and real estate and are seeking to work with Western businesses that comply with the Shariah law.
Japan's Softbank Corp is likely to tap the US bond market to fund the $20 billion acquisition of US wireless carrier T-Mobile, according to a report by the Nikkei business daily.
Minnesota-based developer CSM Corp bought the historical building in downtown Phoenix, Hotel Monroe in a deal valued at $7.85 million, according to a commercial real estate research firm.
The Fair Trade Commission of Taiwan slapped a TW$20 million fine on Apple Inc for violating the country's fair trade laws when it restricted the prices of local telecom carriers for iPhone contracts.
The American Bankers Association, a group that represents mostly community banks, has filed a complaint challenging the final version of the Volcker Rule, Bloomberg reported.
