VENTURE CAPITAL POST

Global cable group Altice is acquiring New York-based Cablevision for $17.7bn including debt. This makes Altice as the fourth largest cable provider in the US. Cablevision's CEO James Dolan will hand over the control to a group of Europeans after the Altice deal. Altice will pay $34.90 a share in cash taking the valuation of Cablevision equity to $9.6bn.

The continuous fall of peso currency is giving jitters to the Mexican economy. The second largest economy in Latin America is making all the possible efforts to prevent the arrest of its falling peso. It increased dollar auction level by almost four times to support the weakening peso.

Genco Shipping & Trading has filed for Chapter 11 bankruptcy protection on Monday as it planned to restructure the company and emerge immediately from bankruptcy although it did not provide a specific time frame for the move.

California, US-based application performance management firm New Relic Inc named Square Inc Chief Financial Officer (CFO) Sarah Friar as the new member of its board on its path to a potential initial public offering (IPO).

Tel Aviv, Israel-based social review engine Yotpo raised $10.7 million in a Series A funding round led by US-based venture capital firm Blumberg Capital to expand its office in San Francisco.

After conducting reviews, JPMorgan found out that it had made about 9% mistakes in more than 1000 lawsuits filed against non-payment of its credit card holders.