ACE to Buy Chubb for $28.3 Billion
ACE agreed to buy Chubb in a cash-and-stock deal valued at $28.3
billion that would combine two of the largest insurers.
Deutsche Bank's New Co-CEO Delays Strategy Update
Deutsche Bank's incoming co-Chief Executive John Cryan postponed
a detailed presentation of the giant German lender's new strategy
to the end of October.
General Mills's Revenue Growth Weaker Than Expected
General Mills reported weaker-than-expected revenue in its May
quarter, as the food maker continues to struggle with changing
consumer tastes.
Brookfield Approaches Australia's Asciano With $6.8 Billion
Australian port-and-rail operator Asciano received a $6.8
billion offer from Brookfield Infrastructure Partners that would be
one of Asia's biggest takeovers this year.
Arrested Toyota Executive Resigns
Toyota Motor managing officer Julie Hamp, who was arrested last
month in Tokyo on suspicion of violating Japan's drug laws, has
resigned.
Ukraine Suspends Russian Natural Gas Purchases
Ukraine's state oil and gas company Naftogaz said it had
suspended natural gas purchases from Russian gas giant Gazprom
because of the failure to agree a longer-term gas supply
accord.
Greenbrier Revenue, Profit Growth Miss Expectations
Greenbrier Cos. on Wednesday logged higher revenue and profit in
its third quarter, though growth came in below Wall Street
expectations.
McCormick & Co. Profit Dips as Dollar Dents Sales
McCormick & Co. on Wednesday said profits dipped slightly in
its latest quarter, as the stronger dollar continues to affect the
spice maker's sales.
Portugal's Novo Banco Received Three Binding Offers
Novo Banco, the Portuguese bank created out of failed lender
Banco EspĂrito Santo SA last year, has received three binding
offers that will be analyzed in the coming weeks.
Samsung Affiliates Clear Legal Hurdle for Merger
A South Korean court rejected a motion by a U.S. hedge fund to
block a planned $8 billion takeover deal at the Samsung
conglomerate that is widely viewed as part of a transfer of
management control.
Alibaba Strikes Entertainment Deal in China
Alibaba, DMG Entertainment and Hunan Satellite Television are
striking a deal to expand subscription-based Internet, cable and
mobile entertainment to Chinese consumers.
Xiaomi Gets New CFO
Shou Zi Chew joins Xiaomi as chief financial officer, another
senior executive at the Chinese phone maker with an international
background.
Airports Commission Backs Third Heathrow Runway
London Heathrow airport has won the backing of a
government-appointed panel for a third runway to address a looming
runway capacity shortage that has threatened to stifle Europe's
biggest market for trans-Atlantic flights.
South Africa Raises Cash for Ailing State Utility
South Africa's government has sold its 14% stake in mobile
operator Vodacom, raising around $2 billion in cash to help
refinance the country's beleaguered state-owned power provider
Eskom.
Puerto Rico Utility, Creditors Close to Deal to Avoid Default
The Puerto Rico Electric Power Authority and its creditors were
close to a deal that would allow the cash-strapped utility to pay
more than $400 million to bondholders, staving off what investors
feared might be the first default of many from the U.S.
commonwealth.