Toshiba warns on profit after Q3 slump; COO resigns over expenses
Japan’s Toshiba Corp cut its annual earnings estimate after third-quarter profit slumped and its chief operating officer resigned over the inappropriate use of entertainment expenses.
Exclusive: Goldman Sachs to cut asset management investments that weighed on earnings
Goldman Sachs Group Inc’s asset management arm will significantly reduce the $59 billion of alternative investments that weighed on the bank’s earnings, an executive told Reuters.
Turnover surges as funds rush to exit private equity stakes
Private equity holdings are being sold at a record clip in an opaque secondary market, investors say, as asset managers cash out to cover losses elsewhere and rebalance portfolios.
Blackstone to buy majority stake in Emerson’s climate tech unit in $14 bln deal
Emerson Electric Co will sell a majority stake in its climate technologies unit to Blackstone Inc in a deal that values it at $14 billion, the latest revamp by the U.S. industrial firm as it focuses on the booming automation market.
Exclusive: KKR raises $6 billion for biggest Asia infrastructure fund
KKR & Co Inc has raised nearly $6 billion for its second Asia Pacific infrastructure fund at the first-close, marking the biggest ever private equity fundraising for the sector in the region, two sources familiar with the matter told Reuters.
Cryptoverse: Venture capitalists catch crypto fever
Venture capital is making a big move on crypto in 2022.
Tata, India’s electric vehicle king, takes a frugal road less travelled
To make its first electric vehicle for the consumer market, India’s Tata Motors Ltd (TAMO.NS) repurposed an unused shop floor at its flagship plant. Here, there’s no fancy assembly line – Nexon SUV bodies designed for gasoline models are wired and fitted with battery packs by hand.
Telecom Italia board to discuss network spinoff in slow-burn KKR drama
The board of Telecom Italia (TIM) (TLIT.MI) will discuss the group’s overhaul on Monday as newly appointed chief executive Pietro Labriola strives to forge an alternative to a takeover proposal by U.S. fund KKR (KKR.N).
Private equity behemoth TPG aims for over $9 bln valuation in U.S. IPO
TPG is aiming for a valuation of as much as $9.3 billion in its U.S. initial public offering, as the private equity powerhouse finally moves closer to a stock market flotation after toying with the idea of going public for several years.
Analysis: KKR’s Telecom Italia approach may call time on Italy discount
A $12 billion takeover proposal for Telecom Italia by private equity giant KKR has highlighted an ‘Italian discount’, which a surge in investor interest and a European fund aimed at supporting its struggling economy could help narrow.
