Singapore-based music startup buys 49% stake in Rolling Stone
The company behind iconic music magazine Rolling Stone has sold a 49 percent share in the business to a startup from Singapore in a bid to grow its international reach. U.S.-based Wenner Media announced the sale of its stake to Singapore’s BandLab this weekend, although the price paid was not disclosed. BandLab is run by Meng Ru Kuok, the 28-year-old son of palm oil billionaire Kuok Khoon Hong, and this isn’t its first piece of notable M&A. The company acquired Swee Lee, a distributor of guita..>> view originalWells Fargo CEO gets $123.6M if he walks
John Stumpf, chairman and CEO of the Wells Fargo & Company, testifies before the Senate Banking, Housing and Urban Affairs Committee September 20, 2016 in Washington, DC.(Photo: Win McNamee, Getty Images)Wells Fargo (WFC) CEO John Stumpf stands to walk from the bank with $123.6 million in severance and stock value if he retires from the bank, which is still reeling from a scandal where millions of accounts were inappropriately opened for customers.Stumpf's $123.6 million in potential retirement ..>> view original'The whole chessboard': A new document reveals Donald Trump's economic strategy in detail
People wait in line to see Republican presidential candidate Donald Trump at a campaign rally in Fort Myers, Fla., on Sept. 19. (Joe Raedle/Getty Images) Donald Trump would pull the United States out of the World Trade Organization if necessary to help American companies sell more abroad. He thinks that he can close the United States’ $500 billion trade deficit within two years by renegotiating trade deals. And he sees this new approach to trade as the key complement to a bevy of traditional..>> view originalBOJ's Kuroda sees no big rise or fall in bond buying for now
OSAKA The pace at which the Bank of Japan buys bonds will depend on what is needed to achieve its yield curve target but no big increases or decreases were expected for now, Governor Haruhiko Kuroda said on Monday, dampening speculation that the BOJ was considering tapering asset purchases.Kuroda, in his first speech since the BOJ's decision last week to reform its radical stimulus program, said the central bank stood ready to use every available tool to achieve its 2 percent inflation target...>> view originalUK CEOs Consider Pulling Up Stakes Because of Brexit
LONDON — A survey of company CEOs in Britain suggests that a majority is considering moving some business away from the U.K. amid concerns about the country's future outside the European Union.Research by KPMG shows that three fourths of the 100 executives questioned would consider moving their headquarters or some operations outside Britain in order to keep a link to the EU's common, tariff-less market.The British government is likely to take months to trigger the official negotiations to lea..>> view originalGoldman Is Reportedly Axing Nearly 30% of Its Asia Investment Bankers
Goldman Sachs is cutting almost 30% of its 300 investment banking jobs in Asia outside Japan in response to a slowdown in activity in the region, two sources familiar with the matter told Reuters. The Wall Street bank is reducing the number of bankers working on mergers and acquisitions (M&A), and equity and debt capital markets deals, the sources said. It will be left with slightly more than 200 bankers across Asia. Most of the jobs cuts are likely to take place in Hong Kong, Singapore and Chi..>> view originalBusiness Day|Chemtura Rises in Premarket on $2.5B Buyout Offer
NEW YORK — Chemtura's stock is up more than 17 percent in premarket trading after the specialty chemicals company agreed to a $2.5 billion acquisition offer from Germany's Lanxess.Chemtura shareholders will receive $33.50 per share in cash for each share they own. That's about a 19 percent premium to the Philadelphia company's Friday closing price of $28.18.The announcement of the transaction late Sunday comes after a yearlong quest to generate shareholder value, Chemtura Chairman and CEO Cr..>> view originalGerman business morale shrugs off Brexit to hit 28-month high
BERLIN German business morale rose far more than expected in September, reaching its highest level in more than two years, a survey showed on Monday, signaling that executives had brushed off concerns about Brexit that had weighed on their mood last month.The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of 7,000 firms, rose to 109.5 from an upwardly revised 106.3 in August, the biggest monthly increase since July 2010. "Companies are clearly m..>> view originalThe Retiree With Six Incomes
Spain: Protesters jeer ex-IMF boss as bank card trial starts
People protest outside the National Court as they wait for the arrival of former Finance Minister and International Monetary Fund chief Rodrigo Rato in Madrid, Monday, Sept. 26, 2016. Rodrigo Rato, and 65 officials at Bankia SA and its founding savings bank Caja Madrid, face trial for alleged misuse of corporate credit cards issued by Spain’s Bankia group and its predecessor savings bank, Caja Madrid between 2003 and 2012. (Daniel Ochoa de Olza/Associated Press) By Associated Press Septemb..>> view original
Tuesday, October 11, 2016
Singapore-based music startup buys 49% stake in Rolling Stone and other top stories.
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