Owners of Forbes Media is reportedly seeking $400 million to $500 million in its sale. However, sources value the Forbes magazine and Forbes.com publisher at $200 million given its EBITDA of $20 million last year.
United States
Hong Kong court orders US hedge fund Tiger Asia to pay investors $5.8M after admitting insider trading
Tiger Asia Management, which has admitted guilt of insider trading, was ordered by a Hong Kong court on Friday to pay $5.8 million to some 1,800 local and overseas investors. No charges have been filed against the US-based hedge fund in Hong Kong.
Is it the end of Bitcoin's venture funding run?
As the hype about the Bitcoin dies, a PCWorld report asks if the well for venture funding for the digital currency has come to an end.
Customer lawsuits, social media ire, state attorneys general probes target Target Corp due to data breach
After a cyber attack of its systems, Target Corp now has to deal with angry customers venting on social media, customer lawsuits and probes from state attorneys general, the Los Angeles Times reported.
Beleaguered LightSquared to receive up to $2.5B financing sponsored by Fortress
LightSquared, which has been in bankruptcy last year, may get $2 billion to $2.5 billion in financing backed by Fortress Investment Group. JPMorgan Chase & Co. in talks with lenders, who would need to commit by January 8.
Latest News
Retailers are going to be ramping up efforts to lure buyers on the final weekend leading up to Christmas but shoppers intend to spend less, Reuters reported.
The corporate buses of Apple Inc and Google Inc were delayed from their morning commute due to protesters in San Francisco and Oakland blocking them, Reuters reported.
Investigators think that overseas hackers were responsible for the cyber attack that compromised 40 million payment cards of Target Corp, a US retailer, Reuters reported.
Southwire Co., one of the biggest electrical wire and cable makers in the US, has agreed to takeover smaller rival Coleman Cable for $492 million in cash. Southwire will also assume Coleman's debt, bringing the deal size to about $786 million.
Wall Street lender Morgan Stanley has divested a major portion of its worldwide physical oil trading business to Rosneft, Russia's state-run oil company, Reuters reported.
Sedgwick Claims Management Services, backed by private equity firms Stone Point Capital and Hellman & Friedman, is looking to put up itself for sale in a deal that could value it at more than $2 billion.
Textron Inc., the maker of Cessna planes, reportedly agreed to takeover aircraft manufactured Beechcraft Corporation for $1.4 billion. Beechcraft has put up itself for sale after emerging from a bankruptcy protection earlier this year.
Eagle Merchant Partners, the firm managing the legacy portfolio firms of its former parent bank Arcapita, said it will not be selling Arcapita's assets for cents on the dollar, The Wall Street Journal reported.
Panda Power Funds said it will begin construction right away on the second power plant it had bought from Moxie Energy, with commercial operations set to start in the middle of 2016.
