Business News
Blackstone invests $400 million in HEC Pharm via convertible bonds8/15/2018 11:20:49 AM U.S. private equity firm Blackstone Group LP has signed a deal to invest $400 million in Hong Kong-listed YiChang HEC ChangJiang Pharmaceutical Co. via convertible bonds, HEC said Wednesday.Corona maker invests $4 billion more in pot producer Canopy8/15/2018 11:19:18 AM Constellation Brands Inc said on Wednesday it would invest $4 billion (C$5.24 billion) more in Canopy Growth Corp , raising its stake in the Canadian marijuana producer to 38 percent.From blue lipstick to Facebook Live, home shopping networks refine their pitch8/15/2018 11:02:58 AM The Home Shopping Network is getting an image makeover.Turkey doubles tariffs on some U.S. imports; lira rallies8/15/2018 10:35:48 AM Turkey doubled tariffs on some U.S. imports including alcohol, cars and tobacco on Wednesday in retaliation for U.S. moves, but the lira rallied further after central bank's liquidity moves had the effect of supporting the currency.Turkey's doubling tariffs on U.S. products will amount to $533 million, trade minister says8/15/2018 10:33:26 AM Turkish trade minister Ruhsar Pekcan says the doubling of customs tarrifs on some imported U.S. products would amount to $533 million, the state run Anadolu news agency reported.PwC failed to flag BHS risks ahead of retailer's collapse: regulator8/15/2018 10:24:04 AM PwC should have flagged significant doubts over the future of BHS in an audit that was completed just days before the loss-making UK retailer was sold for a token one pound in 2015, ahead of its collapse a year later, a regulator said on Wednesday.Express Scripts staking out million-dollar gene therapies8/15/2018 10:19:12 AM Express Scripts Holding Co built a multi-billion enterprise pressuring drug companies to lower their prices for U.S. patients. Now it is quietly building a side business: getting paid to help drug companies dispense a new generation of high-priced drugs.Flight rights group takes Ryanair to court over strike compensation8/15/2018 10:00:28 AM German passenger rights company Flightright is taking Ryanair to court over whether it should pay financial compensation to passengers affected by strikes at Europe's largest low-cost carrier.Saudi fund may only play minor part in Musk's $72 billion Tesla plan: bankers8/15/2018 9:49:44 AM Elon Musk told investors this week that "obviously, the Saudi sovereign fund has more than enough capital needed" to finance taking Tesla private.Erdogan spokesman says problems with U.S. will be resolved8/15/2018 9:46:48 AM Turkish President Tayyip Erdogan's spokesman said on Wednesday he expected problems with the United States, which helped drive the lira to record lows, to be resolved but Washington must stop trying to influence Turkey's judiciary.Stocks, emerging currencies, lick wounds as lira bounces for second day8/15/2018 9:36:11 AM Action from Turkey's central bank pushed the lira higher for a second day on Wednesday, helping European stocks and emerging currencies consolidate recent losses though the dollar stuck at 13-month highs kept up the pressure on world markets.Chinese oil importers shun U.S. crude despite tariff reversal8/15/2018 8:39:54 AM Chinese oil importers are shying away from buying U.S. crude as they fear Beijing's decision to exclude the commodity from its tariff list in a trade dispute between the world's biggest economies may only be temporary.Long-acting injection a shot in the arm for GSK's HIV business8/15/2018 8:31:40 AM A long-acting injection developed by GlaxoSmithKline and given once a month has proved as effective as standard daily pills for controlling the AIDS virus, lifting prospects for the British drugmaker's key HIV business.Royal Bank of Scotland pays $4.9 billion for crisis-era misconduct8/15/2018 6:47:12 AM Royal Bank of Scotland will pay $4.9 billion to settle U.S. claims that it misled investors on residential mortgage-backed securities between 2005 and 2008, the U.S. Justice Department said on Tuesday.China says U.S. solar tariffs violate trade rules, lodges WTO complaint8/15/2018 5:43:11 AM China's commerce ministry said a U.S. decision to subsidize renewable energy firms and impose tariffs on imported products has seriously distorted the global market and harmed China's interests, firing the latest shot in a broader trade conflict.Investment firms explore buyout of Yum China: sources8/15/2018 4:07:08 AM Investment firms are exploring a buyout of Yum China Holdings Inc. in what could be one of Asia's biggest M&A deals this year, sources close to the situation told Reuters.Walmart teams up with Ellen DeGeneres to launch fashion line8/15/2018 4:06:27 AM Walmart Inc said on Wednesday that it would tie up with comedian and talk show host Ellen DeGeneres to launch a women's fashion line, its latest attempt to make deeper inroads into the apparel space and gain market share in the category.Soros Fund Management adds popular tech names, BlackRock in second quarter8/15/2018 1:22:57 AM Soros Fund Management LLC added Facebook Inc, Apple Inc and Twitter Inc, but trimmed stakes in Alphabet Inc and Inc in the quarter through June, according to a regulatory filing on Tuesday.Musk bid for Tesla: no formal offer, no firm deals with advisers8/15/2018 12:53:42 AM Tesla Inc's board named a special committee of three directors on Tuesday to decide what to do about Chief Executive Elon Musk's potential offer to take the electric carmaker private, although Musk has yet to make a formal offer and is still negotiating to hire advisers needed to do a deal.A look at Tesla's nine-member board8/15/2018 12:53:42 AM Tesla Inc's board has named a special committee of three directors to negotiate with Chief Executive Elon Musk on taking the electric car maker private, although it said it was yet to see a firm offer from him.