Michigan-based community bank United Bank & Trust (UB&T) is set to merge with Indiana-based financial holding firm Old National bank sometime this summer in a deal valued at $173.1 million.
North America
Holiday discounts hurt US retailers, boost industry sales overall
Many large US retailers on Thursday dialed back their earnings forecasts because of steep discounts they offered during the holidays. Discounts boosted overall industry sales but hurt profits at many retail chains.
NY fashion company Fifth & Pacific changes name, CEO steps down
New York fashion company Fifth & Pacific Cos. on Thursday changed its name to Kate Spade & Co. to reflect the company's new, singular focus. The apparel maker also announced on the same day that its chief executive William McComb will be replaced by Kate Spade CEO Craig Leavitt.
Part 3: The Power of Clones to Startup—Start-up Communities
Clones look the same on the surface, one country to the next, but there are multiple differences in execution. Many clones require supply chain partners for them to work, yet many of these companies do not exist in emerging countries
Part 2: The Cultures of Risk—Financing the Startup of Start-up Communities
This part discusses the culture of risk in the developing countries and how it impacts the behavior of local investors and their willingness to finance seed and early stage tech business models.
Latest News
Foreign-exchange broker Forex Capital Markets (FXCM) said it was in talks with high-speed trader Infinium Capital Management to buy its assets. FXCM last year bought a $12 million note issued by the struggling high-speed trader.
The US Justice Department won a case challenging the 2012 acquisition of Power Reviews Inc by rival online product review software maker Bazaarvoice Inc, Bloomberg reported.
Genting Malaysia Group, which is majority owned by Genting Bhd, has signed an agreement with American groups Gulfstream Park Racing Association, Florida Horsemen's Benevolent & Protective Association and Florida Thoroughbred Breeders' Association to build a gaming resort in Miami, Florida.
South Dakota, US-based energy firm Black Hills Corp inked a deal to acquire gas utility MGTC's gas transmission and distribution utility assets in northeastern Wyoming in a deal valued at $6 million.
Private equity firm Hellman & Friedman is reportedly considering to sell Catalina Marketing Corp. in a deal that could fetch $2 billion to $2.5 billion. Catalina provides customer-driven marketing services to over 25,000 grocery, drug and department stores in the US.
There may be a lot of hype accompanying wearable devices but industry observers say these gadgets are not likely to be a big hit with consumers any time soon, Reuters reported.
Al Glowasky, a veteran investment banker with more than 30 years of investment banking experience in his belt, will be joining Performance Trust Capital Partners as Managing Director in the West Coast region
Internet giant Yahoo was earlier reported to have bought San Francisco-based startup Aviate for an undisclosed amount, but now a source familiar with the deal revealed that the acquisition was valued at $80 million.
Private equity firm Blackstone Group and property developer Panchshil Realty have emerged frontrunners for buying Citibank's old headquarters in Mumbai, India. The Blackstone-Panchshil combine have jointly bid INR186 crore for Citigroup Center.
