SunFarmer, a non-profit developer of solar power in impoverished areas, will construct its first solar power project in Nepal using a USD2 million grant from SunEdison Inc. SunFarmer is seeking donations to build 100 solar projects in the country.
United States
Rivera mural spared from Detroit bankruptcy sale
Diego Rivera's Detroit Industry murals, which was commissioned by Ford Motors Co. in 1932, has been protected from Detroit's bankruptcy sale. Britain's Christie's Inc. assessed pieces bought by the city money to be worth USD452 million to USD866 million.
Private equity teeters the line between social and corporate responsibility
An article by the International Business Times provided an insight on the growing trend of conscious investing among private equity firms, which based their investment decisions on environmental, social and corporate governance (or ESG) factors.
Hacker group Anonymous pleads guilty in PayPal hack
Thirteen defendants said they were guilty of the cyber attack against PayPal three years ago. They were members of a hacker group known as Anonymous.
Mobile app developer software Kidozen nabs USD5 million from Third Point Ventures
Kidozen, a maker of software designed to create custom-made mobile apps, received USD5 million to scale its business after emerging from private beta in February this year.
Latest News
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 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.
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.
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.
Sallie Mae Corp, the largest student loan firm in the US, filed documents with the US Securities and Exchange Commission that will allow it to split into two companies. The deal is expected to be completed by the end of the second quarter of 2014.
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.
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.
