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February 27, 2020
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A new calculator sheds light on high-flying U.S. unicorn price tags

Reuters
(Reuters) – Common shares in many high-flying venture-backed startup companies are worth less than headlines lead some people to believe, and an online calculator that two finance professors debuted on Wednesday can now quantify that discrepancy. Stanford Graduate School of Business professor Ilya Strebulaev poses while showing a new online......
Reuters - Business

AI computing startup SambaNova raises $250 million in BlackRock-led funding

Reuters
FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid/File Photo (Reuters) – Artificial intelligence computing firm SambaNova Systems said on Tuesday it has raised $250......
Reuters - Business

Goldman, Citi among banks curbing Italy trips over coronavirus fears

Reuters
LONDON/MILAN (Reuters) – Goldman Sachs (GS.N), Citigroup Inc (C.N), Credit Suisse (CSGN.S) and other investment banks have curbed trips to Italy amid fears that the coronavirus outbreak across the north of the country could quickly spread across Europe, sources said. FILE PHOTO: A policeman wearing a face mask warns a......
Reuters - Business

Thomson Reuters names new CEO, earnings top estimates

Reuters
NEW YORK (Reuters) – Thomson Reuters Corp (TRI.N) (TRI.TO) said on Tuesday it had appointed former Nielsen Holdings Plc (NLSN.N) president Steve Hasker as its new chief executive officer, succeeding Jim Smith. Newly announced Thomson Reuters president and chief executive officer Steve Hasker poses in Toronto, Ontario, Canada February 24,......
Reuters - Business

Tesco completes China exit with joint venture stake sale

Reuters
A company logo is pictured outside a Tesco supermarket in Altrincham northern England, April 16, 2016. REUTERS/Phil Noble/File Photo LONDON (Reuters) – Britain’s biggest retailer Tesco (TSCO.L) has completed its exit from China with the sale of a 20% stake in a joint venture to a unit of its state-run......
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SoftBank leads $265 million investments in two U.S.-based start-ups

Reuters
(Reuters) – SoftBank on Monday led a new funding round of $165 million in California-based Karius and invested $100 million in New York-headquartered AI company Behavox, as the technology giant builds a portfolio under its second Vision Fund. FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank......
Reuters - Business

Exclusive: Germany’s Stada buys 15 GSK consumer health brands

Reuters
FRANKFURT (Reuters) – Private equity-backed generic drugmaker Stada STAGn.D said it has agreed to buy 15 consumer healthcare products from British drugmaker GlaxoSmithKline (GSK.L) to further strengthen its prescription-free drugs business in Europe. FILE PHOTO: The logo of Stada Arzneimittel AG is pictured at their headquarters in Bad Vilbel near......
Reuters - Business

TurboTax maker Intuit nears agreement to buy Credit Karma for $7 billion: WSJ

Reuters
The new Form 1040 tax form for individuals, released by U.S. Treasury Department, is shown in this handout image obtained June 29, 2018. Department of the Treasury/Handout via REUTERS (Reuters) – Intuit Inc is nearing an agreement to buy financial technology portal Credit Karma Inc for about $7 billion, the......
Reuters - Business

Buffett calls for more accountability for corporate directors

Reuters
(Reuters) – Warren Buffett on Saturday called on corporate America to make their boards of directors more accountable to shareholders and less beholden to chief executive officers, perhaps by reducing their pay and requiring that they buy more stock. FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit......
Reuters - Business

Qatar Airways not interested in investing in Air Italy

Reuters
FILE PHOTO: A Qatar Airways aircraft takes off at the aircraft builder’s headquarters of Airbus in Colomiers near Toulouse, France, September 27, 2019. REUTERS/Regis Duvignau MILAN (Reuters) – Qatar Airways said on Friday it was not interested in investing in struggling Italian carrier Air Italy, but would do all it......
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Thyssenkrupp nears full sale of elevator unit: sources

Reuters
Thyssenkrupp’s logo is seen outside the elevator test tower in Rottweil, Germany, January 21, 2020. REUTERS/Michaela Rehle FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp (TKAG.DE) is nearing a full sale of its elevator division, three people familiar with the matter said, adding this would result in maximum proceeds that are needed as net......
Reuters - Business

Thomson Reuters close to naming ex-Nielsen president Hasker as CEO: sources

Reuters
(Reuters) – Thomson Reuters Corp (TRI.TO) (TRI.N) is close to naming former Nielsen Holdings Plc (NLSN.N) president Steve Hasker as its next chief executive, succeeding Jim Smith, according to people familiar with the matter. FILE PHOTO: A Thomson Reuters logo is pictured on a building during the World Economic Forum......
Reuters - Business

Qatar Airways spends $600 million to lift stake in BA owner to 25%

Reuters
LONDON/DUBAI (Reuters) – Qatar Airways has bought a $600 million stake in British Airways-owner IAG (ICAG.L) to increase its holding to 25.1%, strengthening its position ahead of a change in IAG management. FILE PHOTO: A Qatar Airways Boeing 787-8 Dreamliner airplane is pictured at Leonardo da Vinci-Fiumicino Airport in Rome,......
Reuters - Business

SoftBank spends $2.5 billion to get second Vision Fund off the ground: sources

Reuters
(Reuters) – SoftBank Group Corp (9984.T) has pumped $2.5 billion of its own cash into new investments since October, people familiar with the matter said, hoping to restore its money-making credentials as it courts investors for a successor to its Vision Fund. FILE PHOTO: People walk behind the logo of......
Reuters - Business

Alstom to buy Bombardier rail unit for up to $6.7 billion

Reuters
PARIS/MONTREAL (Reuters) – France’s Alstom said on Monday it had agreed to buy the train division of Canada’s Bombardier for up to 6.2 billion euros ($6.7 billion), in the latest bid by Western rail companies to bulk up in the face of Chinese competition. Alstom, the maker of TGV bullet......
Reuters - Business

Thyssenkrupp shortlists buyout firms for elevator unit, Kone out

Reuters
FRANKFURT/DUESSELDORF, Germany (Reuters) – Germany’s Thyssenkrupp (TKAG.DE) has shortlisted two private equity consortia in the sale of its 16 billion euro ($17 billion) elevator unit, dealing a blow to Finland’s Kone (KNEBV.HE), which withdrew from the closely watched deal. Logo is displayed in an elevator at the KONE Academy of......
Reuters - Business

Kone out as Thyssenkrupp shortlists private equity for elevator division

Reuters
FRANKFURT (Reuters) – German conglomerate Thyssenkrupp (TKAG.DE) said on Monday it has shortlisted two private equity consortia in the sale of its 16 billion euro ($17.3 billion) elevator division, dealing a blow to Finland’s Kone (KNEBV.HE), which withdrew from the closely watched deal. Logo is displayed in an elevator at......
Reuters - Business

NMC Health founder Shetty resigns as turmoil deepens

Reuters
FILE PHOTO: General view of NMC specialty hospital in Abu Dhabi, United Arab Emirates, February 11, 2020. REUTERS/Satish Kumar/File Photo (Reuters) – NMC Health (NMC.L) said on Monday its founder BR Shetty had resigned as the Emirati healthcare group’s joint non-executive chairman, leaving UK businessman H.J. Mark Tompkins as sole......
Reuters - Business

Timeline: NMC Health’s expansion and ailments

Reuters
NMC Health said on Monday its founder BR Shetty had resigned as joint non-executive chairman, months after the UAE healthcare group was thrown into turmoil by doubts over its finances. Source – For more click here...
Reuters - Business

William Hill names DS Smith’s Adrian Marsh as CFO

Reuters
FILE PHOTO: A William Hill bookmaker store is seen in London, Britain July 21, 2016. REUTERS/Peter Nicholls/File Photo (Reuters) – British bookmaker William Hill (WMH.L) on Monday named cardboard maker DS Smith’s (SMDS.L) Chief Financial Officer Adrian Marsh as its finance head. Marsh will join William Hill later this year,......

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