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Citi combines its stock trading and prime brokerage business

July 29, 2019 by  
Filed under News

Citigroup is combining its stock trading business with its prime brokerage unit, which caters to hedge funds, private equity firms and other investors.


Source: Reuters Business News

Pfizer to spinoff, merge off-patent drugs unit with Mylan

July 29, 2019 by  
Filed under News

Pfizer Inc has agreed to spin off its off-patent branded drugs business and combine it with generic drugmaker Mylan NV , a move that leaves Pfizer with its more profitable innovative drugs, including cancer treatment Ibrance and pneumonia vaccine Prevnar.


Source: Reuters Business News

Exclusive: India's SBI tightens lending terms for auto dealers – source, internal memo

July 29, 2019 by  
Filed under News

State Bank of India (SBI) has tightened lending terms dramatically for auto dealerships, according to a source and an internal memo seen by Reuters, seeking to reduce its exposure to risk from a sector in the midst of a sharp downturn.


Source: Reuters Business News

Brexit worries knock sterling; stocks slip

July 29, 2019 by  
Filed under News

The British pound touched its lowest against the dollar in over two years after Prime Minister Boris Johnson said a hard divorce from the EU was in the cards, while stocks dipped globally on Monday after last week hitting their highest in five months.


Source: Reuters Business News

Activist investor Cat Rock calls Just Eat, Takeaway.com deal 'excellent news'

July 29, 2019 by  
Filed under News

Investment firm Cat Rock on Monday lauded Amsterdam-based Takeaway.com’s deal to buy Just Eat in an 8.2 billion pound ($10.05 billion) deal to create one of the world’s largest online food delivery firms.


Source: Reuters Business News

Exclusive: BlackRock in talks to take over Cofense after U.S. security concerns – sources

July 28, 2019 by  
Filed under News

BlackRock Inc , an investor in Cofense Inc, is in advanced talks to take over the U.S. cyber security firm, after a U.S. national security panel asked buyout firm Pamplona Capital Management LLP to sell its stake, people familiar with the matter said on Sunday.


Source: Reuters Business News

LSE-Refinitiv deal faces long antitrust review: sources

July 28, 2019 by  
Filed under News

U.S. buyout fund Blackstone Group Inc is expected to announce the merger of its majority-owned financial data firm Refinitiv with the London Stock Exchange Group Plc within a week, but the deal is expected to face a long antitrust review before it can close, four sources told Reuters.


Source: Reuters Business News

LSE's bid for Refinitiv spotlights quest for data, globality

July 28, 2019 by  
Filed under News

London Stock Exchange Group Plc’s planned purchase of Refinitiv in a $27 billion deal is the latest sign that exchange operators are focusing more on data products to increase revenue, while also trying to expand their global reach.


Source: Reuters Business News

SABIC CEO says no interest in taking over Clariant

July 28, 2019 by  
Filed under News

Saudi Basic Industries Corp (SABIC) has no interest in taking over Swiss chemicals firm Clariant and considers its 25% stake in the company as “a long term strategic investment,” said its chief executive Yousef al-Benyan on Sunday.


Source: Reuters Business News

Exact Sciences in advanced talks to buy Genomic Health for $2.8 billion: Bloomberg

July 27, 2019 by  
Filed under News

Cancer diagnostics company Exact Sciences Corp is in advanced negotiations to buy healthcare company Genomic Health Inc for about $2.8 billion to strengthen its cancer testing, Bloomberg reported on Saturday.


Source: Reuters Business News

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