Dell launches $20 billion high-grade bond
NEW YORK (IFR) – Dell launched a US$20bn investment-grade bond on Tuesday, upsizing the trade on the back of a massive order book as it finances its acquisition of data storage company EMC.
Standard Life faces investor ire over executive pay
LONDON (Reuters) – Standard Life was given an embarrassing dressing down by shareholders at its AGM, with reaction to its 2015 pay report delivering a metaphorical bloody nose to an insurer that in its role as an investor in other companies has itself…
Sony to build up AI as key business pillar, invests in U.S. start-up
TOKYO (Reuters) – Japan’s Sony Corp said it plans to build up its artificial intelligence (AI) business and eventually turn it into a major revenue source, beginning with an investment in a U.S. start-up.
Exclusive: China’s Fosun sets sights as world leader but has plan to reduce debt – founder
LISBON (Reuters) – Fosun Group, China’s largest private conglomerate, is aiming to become a world leader in insurance, tourism and healthcare but also has a “clear plan” to reduce its debts, chairman and co-founder Guo Guangchang said on Tuesday.
Strong U.S. data bolsters second-quarter growth prospects
WASHINGTON (Reuters) – U.S. consumer prices recorded their biggest increase in more than three years in April as gasoline and rents rose, pointing to a steady inflation build-up that could give the Federal Reserve ammunition to raise interest rates lat…
Exclusive: BP exploration boss leaves after spending cuts
LONDON (Reuters) – The head of exploration at BP , Richard Herbert, is leaving the British oil major after slightly more than two years in the job, a period in which the company slashed spending on the search for new deposits.
Carlos Slim keeps it in the family as grandkids join boards
MEXICO CITY/MADRID (Reuters) – Mexican billionaire Carlos Slim has put two of his grandchildren on boards of his companies, a major step in the succession of one of the world’s largest family business empires.
Apple boss Cook to tap Indian software talent during maiden visit
MUMBAI/NEW DELHI (Reuters) – Apple Inc is set to announce plans to expand its Indian software development center and build an accelerator program for local start-ups, two sources aware of the investment said on Tuesday, hours before Chief Executive Tim…
Target hires Nordstrom’s Mark Tritton as chief merchandising officer
(Reuters) – Big-box retailer Target Corp appointed Nordstrom Inc executive Mark Tritton its chief merchandising officer.
China’s Geely cars think big with Volvo makeover
GOTHENBURG, Sweden (Reuters) – The Briton who smoothed out Volvo’s boxy lines and put signature radiator grilles on Lincolns for Ford is aiming to give China’s Geely range global appeal by ditching its utilitarian image.
