The New York Times cited reports that have suggested that Level 3 Communications, which controls most of the fiber optic cables that connect everyone to the Internet, may have greenlighted the NSA to tap data from Yahoo and Google. Both companies have announced that they will now start encrypting their data.
Country
Bank of Cyprus hired former RBS deputy chief to lead restructuring
In its efforts to restructure the company, Bank of Cyprus hired former deputy chief executive Euan Hamilton from the Royal Bank of Scotland as a consultant. Bank of Cyprus's efforts to turn the state of the company around has been hindered by political infighting as well as heavy criticism over its lack of transparency.
TTK Group vows to regain market share amid loss of Durex brands of ex-partner Reckitt
Indian company TTK Group is moving forward with its plans to seize back market share it lost after the ending of its partnership with Reckitt Benckiser Group Plc a year ago by increasing sales shipments of its own brand of prophylactics.
Bayer in negotiations regarding USD2.4 billion acquisition of partner Algeta
Despite the offer at a 27% premium from yesterday's trading close of Algeta ASA's shares, the Norwegian company said through a spokesperson that it does not guarantee that it will accept Bayer AG's offer.
Gold Fields keen to stretch maturities of loans - CEO
Due to the swing of gold prices, South African mining company Gold Fields Ltd had resorted to negotiating with its creditors for an extension of its loan maturities, said Gold Fields CEO Nick Holland.
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Tyber Medical, a privately-held medical device company, said it was able to successfully close its initial funding round. Names of the private equity investors who participated, as well as the amount raised were not disclosed.
Greenko Group said it had completed Matrix, its fourth wind farm located in the state of Karnataka. Greenko is a renewable power company based in India backed by the sovereign wealth fund of Singapore.
Yara International will be expanding its South American footprint further with its agreement to acquire OFD Holding Inc from Omimex Resources Inc for USD 425 million.
The growing attraction of UK investors in the Cambridge region saw the decline of interest in startups in Shoreditch, a district which is the breeding ground of social media and e-commerce ideas.
Prologis Inc said it plans to increase rents and spend up to USD 600 million a year for warehouses in Japan. Prologis, based in San Francisco, is the biggest owner of warehouses around the world.
Billionaire and Friendster Inc. owner Vincent Tan is reportedly looking to list his online payments company MOL Global Pte., and has been eyeing a dual listing in the Kuala Lumpur Stock Exchange and either in Hong Kong or Singapore.
LDR Holdings Chief Executive Officer Christophe Lavigne talked to Xconomy 30 days after it had launched an initial public offering, and said money raised from its IPO will help the company expand its presence in the US.
Australia-based task outsourcing platform Airtasker raised an additional USD2 million in a funding round with BridgeLane Capital, Exto Partners, and other private equity investors, to be used for the firm's team expansion.
Philippine-based JG Summit Holdings Inc raised PHP8.8 billion through an overnight equity placement to fund a stake acquisition in Manila Electric Company (Meralco) and other corporate purposes.
