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Thursday, May 11, 2017

China's tech money heads for Israel as U.S. welcome wanes

HONG KONG/TEL AVIV (Reuters) - Struggling to seal deals in the United States as regulatory scrutiny tightens, Chinese companies looking to invest in promising technology are finding a warmer welcome for their cash in Israel.

'Ice age' looms for China's outbound investment: study

BEIJING (Reuters) - China saw a rapid acceleration of outbound direct investment in services and industrial deals in 2016, a study showed in Thursday, but an investment "ice age" is looming in 2017 as authorities crack down on capital outflows.

Elliott willing to back BHP board candidate as next chairman: source

SYDNEY (Reuters) - Elliott Management is willing to back a board member of BHP Billiton to be its chairman upon the retirement of Jac Nasser despite deep reservations about its top management, a source close to the activist shareholder said on Thursday.

Adidas sells golf unit Taylormade to buyout group KPS

FRANKFURT (Reuters) - German sportswear maker Adidas is selling its golf equipment and clothing brands TaylorMade, Adams Golf and Ashworth to private equity firm KPS Capital Partners, taking a hit to its earnings.

Toronto Exchange 'legitimate contender' for Aramco IPO, CEO says: Bloomberg

(Reuters) - The Toronto Stock Exchange is still in the running for part of the listing of Saudi Arabian Oil Co, known as Saudi Aramco, which could be the world's largest initial public offering, Bloomberg reported on Wednesday.

Australian-led group pays $5.6 billion for NSW energy grid, foreigners in back seat

SYDNEY (Reuters) - The Australian state of New South Wales on Thursday said it has sold power grid Endeavour Energy to a consortium led by Macquarie Group Ltd for A$7.62 billion ($5.61 billion), relegating foreign bidders to a minority stake.

SoftBank's OneWeb merger with Intelsat teeters: sources

(Reuters) - SoftBank's bid to merge its satellite technology startup with Intelsat SA teetered on Wednesday, as some Intelsat creditors held up the deal and a few made a last-minute offer to rescue it, people familiar with the matter said.

Kinder Morgan to raise up to $1.3 billion in Canadian IPO

TORONTO (Reuters) - U.S. pipeline Kinder Morgan Inc's Canadian unit is seeking to raise up to C$1.75 billion ($1.3 billion) in an initial public offering (IPO) in Toronto, Kinder Morgan Canada said in a regulatory filing on Wednesday.

Lloyds Bank says Britain to make at least $645 million from bailout

EDINBURGH (Reuters) - The British government will make at least a 500 million pound ($645 million) profit from its bailout of Lloyds Banking Group , the lender's chief executive Antonio Horta-Osorio said on Thursday.

UBI aims for net profit of $1.2 billion by 2020 after buying smaller rivals

MILAN (Reuters) - UBI Banca said on Thursday it was aiming for an annual net profit of 1.12 billion euros ($1.2 billion) and a core capital adequacy ratio of above 13 percent of assets by 2020 after buying three small rivals rescued by Italy's government in late 2015.