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.
Sectors
Kenneth Feinberg to leave Davis Advisors
Money manager Kenneth Feinberg who co-manages the Davis New York Venture Fund and Selected American Shares will be leaving the New York-based investment firm by the end of this year.
Boston firm Curoverse raises $1.5M for genetic data storage platform
Boston-based firm Curoverse secured $1.5 from a seed funding round to develop and commercialize its private beta technology that helps biomedical researchers in storing and analyzing human genetic data.
Greentown China Holdings, Wharf Holdings form joint venture for Hangzhou land development
A 50-50 joint venture to develop a CNY 2.58 billion or $425 million land in Hangzhou was formed between Greentown China Holdings and Wharf Holdings.
Israeli transit app Moovit bags $28M to enhance service
Israel-based public transit app Moovit has closed $28 million from a funding round led by Sequoia to improve its service that gives commuters a real-time perspective of the best public transportation routes.
Latest News
NWS Holdings Ltd, owned by Hong Kong tycoon Cheng Yu-tung, entered an agreement to purchase a stake in Beijing Capital International Airport Co from sovereign wealth fund GIC Pte.
Hungary-based state-owned utility MVM Zrt announced on Tuesday its plan to purchase a minority stake in natural gas supplier Fogaz Zrt in a deal valued at HUF41 billion ($187.4 million).
Sweden-based online payments company Klarna has bought Germany-based firm SOFORT in an acquisition deal valued at $150 million to become one of Europe's biggest independent payments alternative.
Darty, the third-largest electricals retailer in the European region, had agreed to sell Darty Turkey to eliminate losses in non-core markets. Darty has responded to weak consumer spending and competition from online retailers by exiting its loss-making operations.
Russia is prepared to invest more than €5 billion in Serbia to back projects centered in the energy and production sectors including lubricant refining, and plant reconstruction projects.
With the help of both public and private equity, the investments of Wellcome Trust was able to return 18% in the year that ended September 30, Bloomberg reported.
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.
While the search for the next CEO of Microsoft Corp intensifies. lead contender Satya Nadella took the time to mingle with Paris startups in a conference, Bloomberg reported.
Petroperu will be seeking to riase $2.7 billion to fund the modernization and upgrades of its Talara refinery. About half of the funds will come from international investors, Reuters reported.
