Private equity firm Centerbridge Partners has abandoned the deal to buy bankrupt LightSquared. Centerbridge, which had offered $3.3 billion for LightSquared, is uncertain over when federal regulators would approve the company's proposed building of a wireless network.
North America
What you must know about the U.S. budget deal
The two-year U.S. budget deal approved by the U.S. Congress Wednesday gives both Democrats and Republicans something to brag about, starting with the mere fact that they did it.
Elance Inc merges with ODesk Corp
Two of the top websites that link businesses with freelancers, Elance Inc and ODesk Corp, have merged to form a service with 8 million registered individuals.
FED trims monthly bond purchases to $75B
The Federal Reserve said it will be trimming its monthly bond purchases to $75 billion from $85 billion in its first move to start tapering, Bloomberg reported.
Former SAP executive John Sims to head BlackBerry's key business segment
Troubled smartphone maker BlackBerry on Tuesday announced that John Sims will join the company as head ofmits gloabl enterprise services business. Sims is a former executive at German software firm SAP.
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Wall Street banks including JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley have been calling on private equity firm Ares Management to go public soon. Ares, however, does not see the need for a public offering in the near future.
US-based specialty healthcare company Endo Health Solutions Inc agreed to purchase pharmaceutical firm NuPathe Inc in a deal valued at $105 million for its new migraine medication.
Jabil Circuit, whose customers include Apple and Cisco Systems, will put up for sale its aftermarket services for $275 million. The contract electronics maker also looks to part ways with BlackBerry as its revenue declines.
Aubrey McClendon, the former Chief Executive Officer of Chesapeake Energy Corp, is seeking investors for a new venture that would invest in oil and gas.
The US Department of Energy (DOE) granted $13 million to five solar companies to help strengthen local solar manufacturing and increase competitiveness in the clean energy market.
Texas, US-based energy explorer Comstock Resourced Inc has allocated roughly $450 million as investment for its drilling and completion operations in 2014, with a further $28 million for leasing activities.
A $3 billion share buyback program was authorized by Northfield, Illinois-based Kraft Foods Group Inc, the first after the firm turned independent in October 2012.
Sony Corp is thinking of selling its audio recognition software business Gracenote and has hired Qatalyst Partners of Frank Quattrone to explore the sale, Bloomberg reported citing people with knowledge of the matter.
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.
