Shares in cigarette-to-hotel business chain ITC rose 2.6 percent on Wednesday to top the list of Sensex gainers on better earnings expectations.
Biotechnology company Celgene has agreed to acquire Abraxis BioScience for $2.9 billion in cash and stock. Abraxis shared are up 20 percent on the news and that’s got to make Abraxis Chairman Patrick Soon-Shiong happy, he owns over 80 percent of the company’s outstanding shares.
Check out the latest celebrity designed clothing line.
News and views on the fund industry from Reuters and elsewhere:
Aberdeen seeks tie-up with US firm – Reuters
New York State may tax nonresident fund manager profits – New York Times
A lot of fund managers like to talk about how important it is to educate the investor but T Rowe Price has put its money where its mouth is. Through a collaboration with Walt Disney Parks & Resorts it has created an online game and an interactive exhibit at EPCOT called The Great Piggy Bank Adventure.
The social networking website of Mark Zuckerberg (pictured) is now worth $23 billion, close to the value of online shopping website Ebay, based on the price of a recent stock purchase by private equity firm Elevation Partners. Elevation purchased $120 million in Facebook stock from private shareholders, valuing the company at $23 billion, a person familiar with the matter told Reuters on Monday.