DJIA: 17,689.86  -56.12 (-0.32%) | NASDAQ: 5,128.281  -0.503 (-0.01%) | S&P 500: 2,103.84  -4.79 (-0.23%) Markets status unavailable

  • Show Article Details

    AstraZeneca PLC CEO Pascal Soriot told analysts: * CEO says looking at deals but prices for acquisitions these days are "pretty. hefty" * CEO says he never said in December 2014 interview that long-term target of. $45 billion sales by 2023 was difficult to hit * For more news, please click here.

  • Show Article Details

    Italian former prime minister Silvio Berlusconi is to sign a binding pre-accord to sell 48 percent of his AC Milan soccer club to Thai businessman Bee Taechaubol in the next few days with a final deal to be inked after the summer, a source close to the matter told Reuters on Thursday.

  • Show Article Details

    Spain's Repsol CFO Miguel Martinez on a conference call with analysts: * Says does not rule out assets sales before the company presents a new strategic plan in November. * Says will only sell its stake in Gas Natural if it is absolutely necessary to keep an investment grade credit rating Further company coverage:

  • Show Article Details

    A fund run by U.S. private equity firm Blackstone Group (BX) has sold its 97.9 percent stake in Indian auto components maker Agile Electric Sub Assembly to a group of buyers, including Japan's Igarashi Electric Works, for an undisclosed amount. The other buyers are Indian investment bank MAPE Securities and two funds run by financial firm Tata Capital, according to a statement from Tata Capital.

  • Show Article Details

    * Q2 revenue of $5.93 bln vs est. * Q2 shr $1.54 vs est. By Arathy S Nair. Time Warner Cable Inc (TWC) said on Thursday it was working towards closing the deal with Charter Communications (CHTR) by the end of the year. Charter said in May that it would buy Time Warner Cable in a cash-and-stock deal, which valued the larger rival at $78.7 billion.

  • Show Article Details

    ARTNEWS SA : * ARTNEWS SA and Brant Publications, Inc. announce terms to combine the two publishing companies' art media assets. * ARTNEWS to buy 100 percent of Art in America, The Magazine Antiques, Modern Magazine and related archives and digital properties from BMP Media Holdings, LLC.

  • Show Article Details

    Royal Dutch Shell (RDS/A) is to axe 6,500 jobs this year and step up spending cuts as it seeks to reassure investors it can withstand an extended period of lower oil prices, even through its planned $70 billion acquisition of BG Group (BRGXF). The Anglo-Dutch company also announced plans to raise $50 billion from asset sales between 2014 and 2018 after its second-quarter profit dropped by 37 percent.

  • Show Article Details

    The following are the top stories on the New York Times business pages. * United Parcel Service Inc (UPS) said it will buy as much as 46 million gallons of renewable diesel over the next three years, helping the company reach a goal of displacing 12 percent of the petroleum-based fuels in its ground fleet by 2017.

  • Show Article Details

    Private equity firm Carlyle Group LP (CG) said on Thursday it agreed to pay 530 million yuan for an undisclosed stake in Chinese vending machine operator Beijing Ubox Technology & Trade Co Ltd, betting on growing consumer demand for convenient shopping. The firm invested through its Carlyle Beijing Partners Fund, which was formed with the support of the Beijing Municipal government.

  • Show Article Details

    The following are the top stories in the Financial Times. Headlines. MEXICO DELAYS DEEPWATER OIL AUCTION. PROSIEBEN AND SPRINGER END MERGER TALKS. JANE BIRKIN ASKS HERMÈS TO RENAME BAG. FIRECHAT TO LAUNCH AS MESSAGING SERVICE. Overview. Mexico has postponed the auction of its deepwater assets by two months after its tender to open up its oil sector to investments from private sector flopped.

  • Show Article Details

    NXP, set to become Europe's largest chipmaker after buying U.S.-based Freescale, booked an 89 percent rise in second-quarter net income driven by strong sales of payment chips, but forecast weak third-quarter growth in its auto unit. The Dutch company, formerly known as Philips Semiconductors, also said revenue for the fiscal second quarter ended July 5 rose 11.6 percent to $1.51 billion.

  • Show Article Details

    The Carlyle Group (CG) on Wednesday reported a second consecutive quarterly decline in one key measure of performance, while its respected investment guru said the company is taking a cautious approach based on roiling world markets.However, Carlyle said it will give shareholders a quarterly dividend of 89 cents per share, a yield of 9 percent. The company said it also had one of its best quarters since going public three years ago.Even with the dividend, Carlyle’s executives said market uncertainty is slowing the pace of the company’s investing.In a conference call with analysts, Carlyle co-chief executive William E. Conway Jr. said the firm is being cautious in part because of the crisis in Greece, fluctuations in the Chinese stock markets and sharp declines in energy prices.“Also, with corporations struggling to find growth, they have turned to [mergers and acquisitions] to meet revenue targets while private-equity activity has remained relatively muted,” Conway said.The District-based private-equity giant said profits rose 55 percent against the same period one year ago, although its economic net income, a closely watched indicator, declined for the second straight quarter when compared with last year.Economic net income for the second quarter of 2015 was $180 million, down from $289 million a year ago.Carlyle’s big driver continues to be its large buyout fund and mid-size deals as it continues to take advantage of an improving economy and a seller’s market.“It is clearly an easier time to sell than as to buy,” said Conway, whose actions are closely followed by fellow investors.Conway said Carlyle’s army of 750 investment professionals is scouring the globe for places to put money to work. “Maybe things are little better and little more active than we have been. But it is still a very, very tough environment,” he said.Earlier in the week, the Wall Street Journal, citing anonymous sources, reported that an influential consultant had advised clients to redeem their money in Carlyle’s ailing $4.9 billion hedge-fund firm, Claren Road Asset Management.“We are working closely with them to sustain and restore the confidence that their investors have had with them for more than a decade,” Conway said.Carlyle owns 55 percent of Claren Road.Carlyle raised $4.7 billion from investors in its fund in the quarter, increasing the amount raised from investors this year to $9.1 billion. The company has $192.8 billion in assets under management, down from $202.7 billion a year ago.Carlyle, one of the world’s biggest private-equity firms as measured by the amount of assets it has under management, saw change in the executive suites during the second quarter.Mike Cavanagh, a high-profile “steal” Carlyle made a year ago from JPMorgan Chase (JPM), resigned after a year to join Comcast (CMCSA), where he is the chief financial officer.Longtime Carlyle investment expert Peter Clare was named deputy chief investment officer for the company’s flagship buyout funds, positioning him to possibly one day run all investments.The company continued to deploy capital around the world, especially in health care, buying the largest hospital group in Brazil. It also bought a Hong Kong-based satellite company, multi-family housing, technology and storage assets, and a U.K.-based collision repair service.Carlyle also sold several investments during the quarter including stock in Nielsen, CommScope (COMM), Axalta, Applus and CoreSite.






  • Show Article Details

    The Carlyle Group (CG) on Wednesday reported a second consecutive quarterly decline in one key measure of performance while its respected investment guru said the company is taking a cautious approach based on roiling world markets.However, Carlyle said it will give shareholders a quarterly dividend of 89 cents per share, which is a whopping 9 percent yield. The company said it also had one of its best quarters since going public three years ago.Even with the dividend, Carlyle’s executives said uncertain markets are slowing its pace of investing. In a conference call with analysts, Carlyle co-chief executive William E. Conway, Jr. said the firm is being cautious in part due to the unrest in Greece, fluctuations in the Chinese stock markets, and sharp declines in energy prices.“Also, with corporations struggling to find growth, they have turned to [mergers and acquisitions] to meet revenue targets while private equity activity has remained relatively muted,” Conway said. The District-based private equity giant said profits rose 55 percent against the same period one year ago, although its economic net income, a closely watched indicator, declined for the second straight quarter when compared with last year.Economic net income for the second quarter of 2015 was $180 million, down from $289 million a year ago.The big driver of the company continues to be its large buyout fund and mid-sized deals as Carlyle continues to take advantage of an improving economy and a seller’s market.“It is clearly an easier time to sell than as to buy,” said Conway, whose actions are closely followed by fellow investors.Conway said Carlyle’s army of 750 investment professionals are scouring the planet for places to put money to work. “Maybe things are little better and little more active than we have been. But it is still a very, very tough environment,” he said.Earlier in the week, the Wall Street Journal, citing anonymous sources, reported that an influential consultant had advised clients to redeem their money in Carlyle’s ailing $4.9 billion hedge-fund firm, Claren Road Asset Management LLC.Carlyle owns 55 percent of Claren Road. “We are working closely with them to sustain and restore the confidence that their investors have had with them for more than a decade,” Conway said. The company raised $4.7 billion from investors in its fund in the quarter, increasing the amount raised from investors so far this year to $9.1 billion. Carlyle currently has $192.8 billion in assets under management. That number is down from $202.7 billion one year ago.The private equity firm, one of the biggest in the world as measured by the amount of assets it has under management, saw change in the executive suites during the second quarter.Mike Cavanagh, a high-profile “steal” Carlyle made a year ago from JPMorgan Chase (JPM), resigned after only a year to join Comcast (CMCSA), where he is the chief financial officer.Longtime Carlyle investment expert Peter Clare was named deputy chief investment officer for the company’s flagship buyout funds, positioning him to possibly one day run all investments.The company continued to deploy capital around the world, especially in health care, where it bought the largest hospital group in Brazil. It also bought a Hong Kong-based satellite company, multi-family housing, technology and storage assets and a U.K.-based collision repair service.Carlyle also sold several investments during the quarter, including stock in Nielsen, CommScope (COMM), Axalta, Applus and Coresite.In June, two co-founders of the Carlyle Group (CG) sold 2 percent of their respective shares in the publicly traded asset management firm, pocketing about $31 million each.It is only the second time since the firm went public that Carlyle has lifted a self-imposed restriction on partners selling their ownership stakes.Carlyle Chairman Daniel A. D’Aniello and Conway Jr. each sold about 1 million shares, or about 2 percent of their respective holdings. They each own about 45 million shares. Co-chief executive David M. Rubenstein did not sell shares.The District-based private-equity firm also increased the number of shares available for trade from 71 million to 78 million. Carlyle has 322 million shares in all.






  • Show Article Details

    Pet supplies retailer Petco Animal Supplies Inc has been in talks with investment banks in recent weeks for an initial public offering, a person familiar with the matter said on Wednesday. Petco, which started out in 1965 as a mail-order company, was taken private in a $1.8 billion leveraged buyout by TPG Capital and Leonard Green & Partners in 2006.