Setting its sights on rival Apple, Google announced its biggest deal ever, a $12.5 billion cash acquisition of mobile phone maker Motorola Mobility.
Google’s biggest foray into hardware comes weeks after a failed attempt to buy patents from bankrupt Nortel, and gives it an intellectual property library in wireless telephony to wage war on Apple and Microsoft.
A mobile security expert says he has discovered serious security flaws in Google’s Android operating system.
Riley Hassell, who caused a stir when he called off an appearance at a hacker’s conference last week, told Reuters he and colleague Shane Macaulay decided not to lay out their research at the gathering for fear that criminals would use it attack Android phones.
Shadows that started to fall over the pitch books of European dealmakers in the second quarter are darkening, threatening to rob banks of a few billion dollars in potential M&A fees.
After a robust first quarter boosted by mega transactions like Deutsche Telekom’s $39 billion exit from the U.S., fears about stuttering growth and Europe’s mounting debt crisis slowed the rise to only 24 percent in the second quarter, reversing hopes of a robust rebound and several years of rising M&A.
Brand owners will soon be able to operate their own parts of the Web — such as .apple, .coke or .marlboro — if the biggest shake-up yet in how Internet domains are awarded is approved.
Today, just 22 generic top-level domains exist — .com, .org and .info are a few examples — plus about 250 country-level domains like .uk or .cn.
A recent wave of computer network attacks has boosted concerns about U.S. vulnerability to digital warfare. The Obama administration is racing on multiple fronts to plug the holes in the U.S. cyber defense, focusing on an expanded effort to safeguard its contractors from hackers and building a virtual firing range in cyberspace to test new technologies.
However, the overall gap appears to be widening, as adversaries and criminals move faster than the government and corporations can respond, officials and analysts say.
Macau casino operator MGM China, co-owned in part by casino mogul Stanley Ho’s daughter Pansy Ho, raised $1.5 billion from its Hong Kong initial public offering after pricing it at the top of its indicative range, triggering some concerns about lofty valuations.
Gambling revenues in the world’s largest gaming market are at record highs, dwarfing those of Las Vegas and fueling a surge in share prices of local casino operators that boosted demand for MGM China’s IPO.
The London Stock Exchange faced an increasingly bitter battle for control of Canadian peer TMX Group after rival bidder Maple Group took its higher offer directly to shareholders.
Maple Group of Canadian banks and pension funds hostile $3.7 billion bid for TMX hopes to galvanize simmering nationalistic opposition to a foreign takeover of the country’s main exchange.
The Treasury made a small profit when it sold a portion of its shares in AIG, but it was unclear how its investment in the beleaguered insurer will ultimately fare.
Tuesday’s $8.7 billion stock offering, (being dubbed by some as AIG’s re-IPO) which included 200 million shares sold by the Treasury and 100 million sold by AIG itself, is far smaller than the $10 billion to $20 billion deal some banking sources had suggested earlier this year, hinting at a potential lack of investor interest.
Even though sources close to Glencore felt the commodities trader had left “money on the table” with an offer price of 530 pence that valued the company at $59.15 billion, the company’s shares were stuck under water on their first day of official trade, dashing hopes of a strong start.
While some analysts still expressed concern over Glencore’s valuation, several analysts and bankers brushed aside worries about the stock trading below the offer price. They said the market debut should be seen as a success given its size and the continued uncertainty in both commodity and equity markets.
Upscale British shoemaker and retailer Jimmy Choo was bought by luxury goods group Labelux from TowerBrook Capital Partners, the companies said.
The companies did not disclose terms of the deal, but two sources familiar with the deal said it was worth about $812 million.