The chief of Standard & Poor’s will step down next month, to be replaced by a senior Citibank executive, in a move announced a few weeks after the credit rating agency downgraded U.S. government debt and sparked a row with Washington.
After months of intense negotiations, China’s Alibaba Group said it has reached an agreement with Yahoo and Softbank that promises the e-commerce giant could receive up to $6 billion from an IPO or liquidation of its e-payment unit, Alipay.
Boeing defense chief Dennis Muilenburg startled many this week when he told the Reuters Aerospace and Defense Summit he would not rule out the possibility of a large-scale merger. Is he sending up a trial balloon to gauge the Pentagon’s reaction? *View article *Read more at the Aerospace and Defense Summit
Check out the latest twist in the eBay – Craigslist saga.
A judge reinstated eBay’s 28.4 percent stake in Craigslist, but allowed the classifieds site to keep eBay off its board.
Foster’s beer business has been getting all the limelight recently but the company has now rejected a private equity offer worth up to $2.5 billion for its wine business. The news raised speculation that suitors for the combined group, which has a market value of about $11 billion, might now step forward. *View article *View article on Foster’s CEO
Foster’s said the split of its beer and wine divisions was on track for next year, but was silent on growing takeover talk for its profitable beer unit. Foster’s share price has been on a roller coaster ride on the takeover talk, surging 7 percent on Monday and sliding 4.5 percent on Tuesday. *View article