Lenders to troubled Stemcor, the world's largest steel trader, have been selling their exposure to hedge funds and distressed debt specialists before a key restructuring deadline on December 13, banking sources said on Monday.
Sectors
Alibaba aims for better logistics and distribution network with Haier investment
The HKD 2.8 billion or USD 364 million investment that Alibaba will make in appliance maker Haier will enable China's leading ecommerce firm to enhance its logistics and distribution network.
'Amazon of Asia' Lazada bags $250M to cement e-commerce in Southeast Asia
Lazada, the "Amazon of Asia" has raised USD250 million from Rocket Internet to mainstream the company's position as the largest online retailer in Southeast Asia.
Cyberattacks in exchange for ransom rise because of Bitcoin- report
Bitcoin has fueled a rise in cyberattacks where computers and data are held hostage until the owner pays the ransom in the digital currency, according to a report.
ValueClick to sell Owned & Operated Websites unit to IAC
ValueClick, Inc. today announced that it has agreed to sell 100 percent of its Owned and Operated Websites (O&O) segment to IAC.
Latest News
The Israeli parliament passed legislation on Monday aimed at improving economic competition by halting pyramid structures in companies and breaking up large conglomerates blamed for high living costs.
Balaji Srinivasan, the cofounder of genetic-testing company Counsyl, is joining the venture capital firm Andreessen Horowitz as a general partner, Andreessen Horowitz said on Monday.
HealthLoop, a maker of an automated patient health assessment platform, received USD10 million in Series A funding from investors led by Canvas Venture Fund and also participated by Subtraction Capital and other institutional investors.
A press release from Verizon Communications Inc read that it has acquired content delivery network EdgeCast to be consolidated to its Verizon Digital Media Services at an undisclosed amount.
Practice Fusion, maker of the Electronic Health Records (EHR) platform, received an additional USD15 million in Series D funding apart from the USD85 million it raised earlier for the round in September, TechCrunch said in its report.
Food-related companies like Hampton Creek Foods are seeing a rise in financial support from private equity firms and angel investors in the past few months to develop plant-based alternatives to food like eggs.
Bloomberg columnist and money manager Barry Ritholtz said in his column on Bloomberg that the hedge fund industry is saturated with too many funds that are performing fairly and charge high fees in return for their services.
Bloomberg said in its report that nutrition company Herbalife Ltd attempted to destroy activist investor Bill Ackman's credibility after the latter claimed that the former is running a pyramid scheme.
Adobe Systems Inc and other major software providers like Microsoft Corp and SAP had to shift its priority to cloud software after experiencing lackluster sales in their hardware-dependent software products.
