Vincent Bollore will be elected as the new Chairman of the Paris, France-based company Vivendi SA after the spin-off of its telecommunications business will be finalized.
Firm Management
Aussie Treasurer Hockey to approve plans of ADM to increase stake in GrainCorp instead of a takeover
Both Archer-Daniels-Midland Co. and GrainCorp Ltd expressed their disappointment over the ruling of Australian Treasurer Joe Hockey regarding the US corn processor's takeover of one of the largest crop handlers in Australia.
India's mid-sized tech firms target senior execs from bigger competitors - report
A report from The Economic Times said mid-sized technology companies in India are hiring experienced executives from larger peers to gain management expertise and skills.
UBS scales back its corporate advisory services in emerging markets
The Corporate Advisory Group of Swiss lender UBS, said three unnamed sources, will be scaling back its team in charge of providing corporate advisory and investment banking services to the ultra-rich in emerging markets including Asia and the Middle East.
RSA Insurance Group Irish unit Chief quits as accounting probe continues
RSA Insurance Group's Irish unit Chief Philip Smith resigned as the internal probe conducted on the insurance firm's accounting practices continued. Smith reasoned that he was made as a fall guy.
Latest News
As the new administration under Prime Minister Erna Solberg reviews the current investment mandate of its USD800 billion wealth fund, top officials like Norway central bank Governor Oeystein Olsen were pushing for a diversification of investments.
An unnamed source was cited by Bloomberg who said Malaysian billionaire Ananda Krishnan's Binariang GSM Sdn will decide whether to pursue its sale of around MYR6 billion or USD1.9 billion of Islamic bonds before the year ends.
The Federal Deposit Insurance Corp reported that the increased litigation cost at one unnamed institution was the primary reason why FDIC-insured banks and savings institutions posted decreased profits in the third quarter this year.
Optimitive, a cleantech startup from Spain, announced on Tuesday that it has successfully secured USD 1.9 million in a Series A round, led by GGM Venture Capital and Optimitive plans to use the funds in building up its sales and marketing team.
Ashland, a chemical manufacturer, is in talks with at least seven private equity firms that are all interested in purchasing its water technologies unit in a deal that could fetch upwards of USD 1.5 billion.
Buffer, a social sharing app announced that it has learned its lesson after last month's hack that enabled attackers to post on its users Facebook and Twitter accounts. It now has implemented a two-step login and authentification in place to ensure that the incident would not happen again.
Extreme Reality, an Israel-based startup which provides analysis of 3D motion was able to secure USD 10 million in its Series D funding round. The secured funds will be used to expand to additional markets and further develop their system.
German healthcare group Merc is looking for acquisitions and collaborations with start-ups to grow its drugs business in the United States, a senior Merck official said.
Snapchat's rejection of Facebook's USD3 billion acquisition offer raised the question about the true measure of a startup's viability as a profitable company in terms of the number of likes, snaps, and even signups.
