Alibaba buys back stake held by Yahoo for $7.1 billion
By Melanie Lee and Soyoung Kim SHANGHAI/NEW YORK | Mon May 21, 2012 10:50am EDT SHANGHAI/NEW YORK (Reuters) – Chinese Internet entrepreneur Jack Ma’s Alibaba Group is buying back up to half of Yahoo Inc’s 40 percent stake for $7.1 billion in a deal that moves the Chinese e-commerce leader closer to a public listing. [...]
Lowe’s cuts profit outlook; shares fall
By Dhanya Skariachan Mon May 21, 2012 9:58am EDT (Reuters) – Lowe’s Cos Inc (LOW.N), the world’s No. 2 home improvement chain, cut its fiscal-year earnings outlook and said demand slowed toward the end of the traditionally strong first quarter, sending its shares down nearly 10 percent. Lowe’s forecast came just days after larger rival [...]
Yahoo shares gain on Alibaba stake sale
Mon May 21, 2012 8:46am EDT (Reuters) – Yahoo Inc (YHOO.O) shares rose 6 percent in premarket trading after Alibaba Group agreed to buy back up to half of the U.S. company’s 40 percent stake in the Chinese Internet giant for $7.1 billion. The deal also clears the way for an initial public offering of [...]
MGIC sues Freddie Mac in insurance dispute
Thu May 17, 2012 4:07pm EDT (Reuters) – Mortgage insurer MGIC Investment Corp (MTG.N) has sued mortgage financier Freddie Mac (FMCC.OB) and the Federal Housing Finance Administration to settle a dispute over coverage limits on certain insurance policies. MGIC said on Thursday it filed the suit in federal court in Wisconsin. The disagreement has been [...]
Intelsat Global files for $1.75 billion IPO
By Sharanya Hrishikesh Fri May 18, 2012 6:19pm EDT (Reuters) – Intelsat Global Holdings S.A., the world’s biggest operator of satellite services, filed with U.S. regulators on Friday to raise up to $1.75 billion in an initial public offering of its common stock. The company filed for its IPO on a day Facebook Inc’s eagerly [...]
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