The National Audit Office, a government-spending watchdog, said taxpayers lost money in the government's share sale of Lloyds Banking Group and not a profit, Bloomberg reported.
Deals
William Morris wins takeover bid for IMG -sources
Sources on Tuesday told the New York Times that William Morris Endeavor Entertainment has won the auction for sports and media talent agency IMG Worldwide. With a $2.3 billion offer, WME beat two other bidders backed by private equity firms.
IMS Health to go public in 2014
TPG Capital, Canada Pension Plan Investment Board (CPPIB) and Leonard Green & Partners have hired JPMorgan Chase & Co. to lead the initial public offering of the healthcare information company.
Power cables' price rigging probe a test of EU regulators' ability to punish private equity
The probe of the European Union involving an underwater power cable cartel is a test of the regulators' ability to penalize private equity investors and their parent firms, Bloomberg reported.
Australia's CFS inks $460M deal to acquire CBA business
CFS Retail Property Trust Group has entered an agreement to pay $460 million to acquire the integrated retail asset management business of the Commonwealth Bank of Australia (CBA).
Latest News
Multinational Internet corporation Yahoo Inc. has acquired content delivery network startup PeerCDN for an undisclosed sum. PeerCDN technology improves website speeds at lower bandwidth costs.
Payments giant PayPal announced its acquisition of San Francisco-based mobile app developer StackMob for an undisclosed sum to help improve its mobile payments apps and services.
The Financial Times reported two banks divested trade finance assets amounting to $1 billion in a securitization that would get these assets to institutional investors from bank balance sheets.
New York-based venture capital firm Zelkova Ventures and several angel investors have committed $2 million in seed funding for North Brooklyn on-demand laundry startup FlyCleaners.
Massachussetts, US-based mobile data analytics firm Trinity Pharma Solutions announced raising $15 million in a growth round led by Health Enterprise Partners for its expansion in New Jersey and California.
An infographic shows that investors have invested $3.6 billion in 2013 in companies focused on big data, comprising close to three quarters of the money poured into these firms from 2008 to 2012.
German Efromovich, the owner of Colombian flag carrier Avianca, is reportedly looking to acquire Italian airline Alitalia or Polish flag carrier LOT Polish Airlines. Efromovich seeks to boost his presence in Europe.
An report published on The Financial Times detailed how private equity moves in markets to ensure that quantitative easing of the US Federal Reserve will not be further reduced.
The Financial Times noted that data issued by mutual fund research company Morningstar supported the trend seen in US investors flocking to alternative bond funds in anticipation to the tapering of the US Federal Reserve's quantitative easing measures.
