Vale, the world's leading producer of iron ore, agreed to enter into a joint venture with power company Cemig to run six hydroelectric power plants. Vale also halved its 9% stake in Norte Energia, which builds a hydroelectric dam in Amazon, Brazil
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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.
Caesars Entertainment agrees to buy Atlantic Club's non-gaming assets in bankruptcy auction for $15M
Caesars Entertainment has confirmed its acquisition Atlantic Club's non-gaming assets in a bankruptcy auction, with the deal set to be completed after the club closes on January 13 next year.
BlackBerry's outsourcing plan with Foxconn paves way for transformation to a services firm- report
The deal that BlackBerry has made with Foxconn Group to outsource the making of its handsets is a sign that the smartphone company is evolving into a services firm, Bloomberg reported.
Fitness startup Retrofit raises $5M in Series B funding round led by Cambia Health Solutions
Retrofit, a fitness company whose clients include Google, Salesforce.com and American Medical Association, has raised $5 million in a Series B funding round lead by Cambia Health Solutions.
Latest News
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.
Shareholders of Telecom Italia on Friday thwarted by a slim majority a proposal by rebel investor Marco Fossati to oust its board. Fossati, the third-largest shareholder in Telecom Italia, may consider pursuing a legal challenge.
A survey from Jana, a mobile platform that connects brands with consumers in the emerging markets, revealed that a good number of respondents from Asian countries know about the Bitcoin.
Air France-KLM has put its regional airline CityJet on the block after posting a loss of €209 million last year. It had received on Friday a firm offer from Germany's Intro Aviation to buy the struggling Dublin-based airline.
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.
