Musk says talking to Saudi fund, others on Tesla buyout
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk said on Monday he was in discussions with Saudi Arabia’s sovereign wealth fund and other potential backers of his plan to…
Exclusive: Saudi Arabia’s PIF has shown no interest in bankrolling Tesla buyout
DUBAI/RIYADH/LONDON (Reuters) – Saudi Arabia’s Public Investment Fund (PIF) has shown no interest so far in financing Tesla Inc (TSLA.O) CEO Elon Musk’s proposed $72 billion deal to take the…
Buffett’s Berkshire offers loan to owner of former Sears properties
NEW YORK (Reuters) – Billionaire Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) is loaning up to $2 billion to the company that owns some of what used to be some of…
Goldman Sachs profit rises 44 percent
(Reuters) – Goldman Sachs Group Inc (GS.N) reported a 44 percent rise in second-quarter profit on Tuesday, driven by strength in its investment banking and fixed income trading businesses. FILE…
Xiaomi puts indefinite delay on CDRs in blow to China’s plans for tech listings
HONG KONG (Reuters) – Chinese smartphone maker Xiaomi Corp (IPO-XMGP.HK) said on Saturday there is no timeframe for a mainland share offering, casting doubt on Beijing’s efforts to lure foreign-listed…
Satellite operator Echostar builds stake in bid target Inmarsat
LONDON (Reuters) – U.S. satellite operator Echostar (SATS.O) has built a near 3 percent stake in Inmarsat (ISA.L), the British company that it is seeking to buy, stock exchange filings…
Merrill Lynch to pay $42 million for misleading customers: SEC
WASHINGTON (Reuters) – Bank of America Corp (BAC.N) subsidiary Merrill Lynch will pay a $42 million penalty for lying to customers about how it handled their orders, the top U.S.…
Former State Street executive faces U.S. fraud trial
BOSTON (Reuters) – A former executive at State Street Corp (STT.N) is set to face trial on U.S. charges that he participated in a scheme to defraud the bank’s clients…
Sorrell plots comeback with new listed company after WPP exit
(Reuters) – Martin Sorrell is staging a comeback just six weeks after he was ousted from WPP (WPP.L), using the same formula as in the 1980s when he transformed a…
Renault-Nissan-Mitsubishi VC invests first $50 million in startups
TEL AVIV (Reuters) – The Renault-Nissan-Mitsubishi alliance’s new venture capital fund has agreed five investments in four months totaling $50 million and will present another to its supervisory board next…