Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin “narrowed their differences” over a phone call on Monday about a stimulus package, a Pelosi spokesman said. Pelosi has said any stimulus deal must be agreed by the end of Tuesday so Congress can pass it before the election on November 3. […]
Morgan Stanley said on Thursday it has agreed to acquire investment manager Eaton Vance in a cash-and-stock deal worth $US7 billion. “Eaton Vance is a perfect fit for Morgan Stanley,” CEO James Gorman said, adding that the asset manager will add more fee-based revenues to its investment banking and institutional […]
Google is expected to win EU approval for its $US2.1 billion Fitbit deal after it addressed competition and data concerns, Reuters reported. The internet giant has promised it will not use Fitbit data to personalise adverts for 10 years, according to a Financial Times report. It will also ensure competitors […]
Warren Buffett’s Berkshire Hathaway plans to invest $US600 million in EW Scripps Co. to help buy ION Media for $US2.65 billion. The deal will significantly expand the American broadcasting company by boosting its television station footprint and distribution of its programming, according to people familiar with the details. Thanks to […]
Sources told the Financial Times TikTok’s proposed partnership with Oracle won’t include a cut for the US Treasury. President Trump said last month a “large percentage” of any TikTok deal would have to go to the US Treasury – although he wasn’t clear which party in the deal he thought […]
External consultants are helping UBS create a potential merger deal between the two largest Swiss banks, Credit Suisse and UBS. It would be the biggest deal since UBS merged with Basler Bankverein in 1997. UBS and Credit Suisse told Business Insider that they don’t comment on “market rumours and speculations.” […]
Samsung has agreed a $US6.6 billion deal to supply wireless telecoms equipment to Verizon in the US. Verizon will use the equipment to build 5G networks until the end of 2025. The deal comes as the US government continues to impose sanctions on Chinese telecoms giant Huawei. Samsung has previously […]
Amazon sent shockwaves through the healthcare industry when in June 2018 it acquired online pharmacy PillPack in a $US750 million deal. At the time of the deal, the company was on track to make $US299 million in annual revenue, according to a pitch deck reviewed by CNBC reporter Christina Farr. […]
Marijuana producer Cronos Group on Monday announced that it has sold its 19% stake in Whistler Medical Marijuana to rival Aurora Cannabis. Aurora issued stock to pay approximately 175 million Canadian dollars ($US131.4 million) for the stake. Watch Cronos Group and Aurora Cannabis trade live. The marijuana producer Cronos Group […]
Opposition to pharmaceutical company Bristol-Myers Squibb’s $US74 billion acquisition of Celgene is growing, and could endanger the deal. The acquisition is facing pushback from Bristol-Myers’ second-largest shareholder, the investment firm Wellington Management, and from activist investor Starboard Value. This level of uncertainty for such a large deal is “somewhat unprecedented” […]
President Donald Trump tweeted Sunday that he would delay scheduled tariff increase on Chinese goods. So far, the US has imposed duties on $US250 billion of Chinese imports, prompting China to retaliate. In December, the two sides agreed on a 90-day trade-war truce that postponed an increase of US tariffs […]
General Electric announced Monday that it plans to sell its biopharma business for $US21.4 billion. Proceeds from the transaction will be used to reduce leverage and strengthen its balance sheet, said CEO Lawrence Culp. Under the leadership of Culp, GE has been working hard to reduce debt by selling assets. […]
General Electric on Friday announced the planned merger between Wabtec and GE Transportation has been revised. The revised terms are negative for GE shareholders, according to Christopher Glynn, an analyst at Oppenheimer. GE’s stock lost more than half of its value in 2018. Under the leadership of new CEO Larry […]
Business Insider spoke to Amelia Singer, a wine expert. Singer is a TV presenter on The Wine Show, and writes for Waitrose Food Magazine. She told us how to get the best deal on supermarket wines. Read the full transcript below: Amelia Singer: Hi, my name is Amelia Singer, and […]
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