Hedge fund Tiger Global takes $1 billion stake in Softbank: source

U.S. hedge fund Tiger Global has built a stake worth more than $ 1 billion in Japan’s Softbank Group which it considers to be under-valued, a source with direct knowledge of the matter said on Wednesday.


Reuters: Technology News

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GE plans to spin off its health-care unit and shed its stake in Baker Hughes: Report

General Electric reportedly plans to spin off its health-care unit and shed its stake in Baker Hughes.
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New Facebook privacy furor: What’s at stake?

NEW YORK (AP) — Facebook is at the center of another privacy furor, this one over its sharing of user data with device makers such as Apple, Amazon, Samsung and others over the past decade
Technology Headlines

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Sony to Buy Additional 60% Stake in EMI Music Publishing for $2.3 Billion

Sony Corporation announced today that is has signed a deal to acquire Mubadala Investment Company’s 60% equity interest in EMI Music Publishing. The deal will raise Sony’s stake in EMI to around 90%, based on an enterprise value of $ 4.75 billion. As a result of the transaction, Sony will indirectly own approximately 90% of the […]

Variety

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Kroger, fending off online rivals, ups stake in UK’s Ocado

CINCINNATI (AP) — Kroger is upping its investment in the British online grocer Ocado as it fends off Amazon.com and other online threats to traditional grocers.
Technology Headlines

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ELETROPAULO: Enel Brasil Presents Bid For AES Corp Stake In The Company

Brazilian power company Eletropaulo received a proposal from Enel Brasil for the 17% stake indirectly held by AES Corporation in the company and regarding Enel’s participation in a potential share offer.
RTT – Economic News

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Carl Icahn boosts stake in Newell Brands as proxy battle heats up

The battle at Newell Brands is heating up. Activist investor Carl Icahn has upped his stake in the Elmer’s glue maker to 6.9 percent, according to a Friday regulatory filing. The filing comes weeks after The Post reported exclusively that Icahn owned a Newell stake. Icahn’s enlarged stake injects an extra dose of uncertainty at…
Business | New York Post

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Carl Icahn acquires stake in commercial products brand

Carl Icahn has recently acquired a leading equity position in Newell Brands, three sources close to the situation told The Post. The previously undisclosed position taken by the hard-charging billionaire, could put him in position to have a key role in deciding the winner of an ongoing proxy fight involving the Hoboken, NJ, maker of…
Business | New York Post

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UPDATE 2-Uber ex-CEO Kalanick selling nearly a third of stake for $1.4 bln -source

Jan 4 (Reuters) – Uber Technologies Inc co-founder
Travis Kalanick, who was ousted as chief executive in June, is
selling nearly a third of his 10 percent stake in the
ride-services company for about $ 1.4 billion, a person familiar
with the matter said on Thursday.


Reuters: Company News

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Morgan Stanley buys stake in Overstock cryptocurrency

Morgan Stanley went shopping at Overstock.com — and it had nothing to do with the discounted leather sofas. The Wall Street bank has purchased an 11.4 percent stake in the Web retailer just days before the Salt Lake City company’s cryptocurrency trading goes live. The disclosure, in a regulatory filing by the bank, sent the…
Business | New York Post

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Shipping tycoon Fredriksen raises stake in debt collector Axactor, shares rise

OSLO, Nov 23 (Reuters) – Shipping and seafood billionaire
John Fredriksen consolidated his position as the top shareholder
in debt collector Axactor by buying more stock in the
firm on Thursday, lifting the firm’s share price.


Reuters: Company News

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Jay-Z Reportedly Interested in Buying Harvey Weinstein’s Stake in TWC

Jay Z

Jay-Z may be looking to make an investment in The Weinstein Company (TWC) in the midst of the controversy surrounding the company’s founder Harvey Weinstein, a powerful film producer accused of sexually harassing and assaulting scores of women throughout his three-decade career.

Jay-Z (Image: Wikimedia/Creative Commons)

 

The New York Times reported last week that the Academy Award-winning producer made sexual advances at multiple women in Hollywood, including high-profile actresses like Gwyneth Paltrow, Angelina Jolie, and Ashley Judd. Some women who rejected his non-consensual advances said that, in turn, he used his clout to sabotage their career. Three women also accused him of rape.

As a result, on October 8, Weinstein was ousted from TWC, a mini-major film studio that he co-founded and co-chaired with his brother Bob. TMZ reports that Jay-Z is interested in purchasing Weinstein’s 23-percent stake in the production company.

In 2016, Jay-Z signed a two-year deal with TWC that includes a first-look deal at film and TV projects. The hip-hop mogul worked with Weinstein to produce Time: The Kalief Browder Story, a six-part documentary that premiered earlier this year. The rap star also has several upcoming projects in the works with TWC, including an adaptation of Lin-Manuel Miranda’s In the Heights; a miniseries about Trayvon Martin; a program exploring American race relations hosted by Jay-Z; and a biopic about comedy legend Richard Pryor.

According to TMZ, Jay-Z would partner with other investors to purchase the stake and he “wants his relationship with the company to continue and grow.”

Fox Business, however, reports that rumors of Jay-Z purchasing Weinstein’s stake are false, according to their sources.

In response to the allegations of sexual assault, Weinstein released an apology, telling the New York Times: “the way I’ve behaved with colleagues in the past has caused a lot of pain, and I sincerely apologize for it.” He added that he will take a sabbatical and is working with therapists to “deal with this issue head on.”

Lifestyle – Black Enterprise

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Prokhorov inches closer to selling 49 percent stake in the Nets

Russian billionaire Mikhail Prokhorov is getting closer to selling the Brooklyn Nets, sources told The Post. There are multiple suitors late in the process to buy a 49-percent stake in the struggling NBA team, along with the right to buy a larger stake and become the controlling owner in three years, sources told The Post….
Business | New York Post

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Live blog: Busy morning for Elliott as it raises stake in BHP and makes a pact with AkzoNobel

Our live blog is tracking reaction as Elliott increases its stake in BHP and reaches an agreement with AkzoNobel.
Top News & Analysis

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JBS: Company Sells Stake In Vigor To Grupo Lala For R$ 1.1 Billion

The Brazilian meatpacker JBS will sell its 19.43% stake in Vigor Alimentos to the Mexican Grupo Lala for R$ 780 million – R$ 1.1 billion including the transfer of debts. JBS will use part of the proceeds to reduce its leverage.
RTT – Economic News

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Obamacare and the Supreme Court: What’s at Stake

Millions of consumers could lose health insurance subsidies in dispute over language in the law
healthfinder.gov Daily News
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