Reuben Kressel, a 66-year old investor, completely sold his entire holding in Twitter Inc. after its shares dropped as much as $5.91 or 8% on Friday's market close. Kressel owns 500 shares in the micro-blogging site.
Sectors
Venture capitalist Tim Draper proposes to break up California into six states
Tim Draper, the billionaire whose venture capital firm has invested in Skype and Baidu, has proposed to divide California into six mini-states, the Financial Times reported.
Target acknowledges data breach extended to encrypted PIN
US retailer Target said that the data breach involving some 40 million of its credit and debit cards included encrypted personal identification numbers, the Financial Times reported.
Hyundai Motor US names David Zuchowski as new chief, John Krafcik to step down by year's end
Hyundai Motor Co. on Friday named sales chief David Zuchowski as the new chief of its US arm. Zuchowski will replace incumbent US chief John Krafcik, whose contract expires at the end of the year.
Apple shareholders to vote on Carl Icahn's $50 B stock buyback proposal early next year
Apple Inc. has filed a proxy statement with the US Securities and Exchange Commission on Friday. Apple investors are set to vote on activist investor Carl Icahn's $50 billion stock repurchase proposal on February 28.
Latest News
Marathon Asset Management, the New York-based hedge fund that owns the town of Scotia in California needs to make a slick exit, The Wall Street Journal reported.
The 18.6% increase in the shares of listings backed by private equity firms will fuel the demand of institutional investors as more public debuts are being planned, the Financial Times reported.
Infrastructure group Invepar SA has won the rights to operate a 937-kilometer stretch of Brazil's BR-040 highway, connecting Brasilia to Rio de Janeiro. Invepar is expected to invest $3.2 billion in BR-040 over the next three decades.
US bank regulators said they would consider allowing banks to hold on to complex securities despite the Volcker rule prohibiting them from owning such and would arrive at a decision in the middle of January.
Shares of debt-laden construction firm FCC SA leaped by as much as 8.8% on Friday following news that American hedge fund Soros Fund Management, controlled by billionaire George Soros, had acquired a 3% stake in the company.
US law firms Nixon Peabody and Blank Rome is reportedly in merger talks to create the 33rd largest law firm in the country. Nixon Peabody is a Boston-based law firm, while Blank Rome hails from Philadelphia.
Canada-based lead-acid battery-powered electric car seller Zenn Motor Co entered in an agreement to acquire a controlling stake in US-based energy storage company EEStor in a deal valued at $1 million.
Educators in Illinois filed a class action lawsuit in the Cook County Circuit Court in Chicago asking the court to void a new state pension reform law, Reuters reported.
US-based digital content storage company Seagate announced that it is acquiring UK-based network and storage equipment maker Xyratex in an all-cash transaction valued at $374 million.
