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Modi Unveils Ambitious $70 B Housing and Urban Development Plan Across India

Mukesh Buch
25 Jun, 2015
New York City

Prime Minister Modi unveiled three pronged plan to kick off housing projects, build smart cities and provide infrastructure to smaller cities. The ambitious plan calls for government spending of $70 billion over the next seven years. Investors took positive view of the plan and bid up stocks.

S&P 500 Turns Lower, U.S. Economy Shrank at a Slower Pace

Nichole Harper
24 Jun, 2015
New York City

Market indexes on Wall Street traded lower and the U.S. economy shrank at a slower pace than previously estimated last month. Crude oil and gold eased. European markets declined after Greece and international lenders failed to agree on a compromise.

3M to Buy Capital Safety, Netflix Announces 7-1 Stock Split

Mukesh Buch
24 Jun, 2015
New York City

3M agreed to acquire Capital Safety for $2.5 billion. Carnival net more than doubled. Monsanto profit surged 33% on 8% increase in revenues. Lennar net and revenues climbed 33%. Netflix plans for a 7-for-1 stock split.

Ahold and Delhaize Confirm to Merge, Bouygues Rejects Altice Offe

Nigel Thomas
24 Jun, 2015
New York City

Ahold and the Belgium-based Delhaize agreed to merge and Ahold terminated its stock buyback program and announced

Nikkei Extends Gains, Yen Edges Lower

Hiruki Nakamura
24 Jun, 2015
New York City

Stocks in Tokyo extended gains and the yen weakened. Konica Minolta agreed to acquire the U.S. based Radiant Vision System for 30 billion yen. Nomura Research estimated higher sales and earnings in the current fiscal year.

In Australia PMS to Acquire Skilled Group, Flight Centre Plunges Again

Marcus Jacob
24 Jun, 2015
New York City

Australian market indexes closed flat in active trading and Programmed Maintenance Services agreed to acquire rival Skilled Group Ltd for A$652 million. Myer Holdings refinanced A$600 million bank debt with better terms. Flight Centre Travel Group plunged for the second day in a row.

Sensex Halts 8-Day Advance, Monsoon Intensifies Across India

Mukesh Buch
24 Jun, 2015
New York City

Strong monsoon rains supported market advance in Mumbai at the opening. However, Sensex halted 8-day rally after the collapse of Greek talks in the euro zone. JBM Auto launched its manufacturing plant in Sanand, Gujarat.

Wall Street in Holding Pattern as European Indexes Extend Gains

Nichole Harper
23 Jun, 2015
New York City

Market indexes on Wall Street hugged flat lines and investors reacted to corporate earnings. BlackBerry said phone unit sales continued to decline in the latest quarter and the maker of smartphone is allocating more resources to software. European markets traded higher.

Lone Star Funds to Buy Home Properties for $7.6 B, BlackBerry Net Jumps

Mukesh Buch
23 Jun, 2015
New York City

Home Properties agreed to be acquired by Lone Star Funds for $7.6 billion. BlackBerry net soared 196% but revenues plunged 32%. Darden Restaurants profit surged 80% and plans to separate a portion of its real estate assets. IHS net dropped 8%. Sonic net jumped 15%.

Greek Lawmakers Resist Latest Proposal, UK Sells 1% Stake in Llyods

Nigel Thomas
23 Jun, 2015
New York City

Greek lawmakers resisted the latest proposal by prime minster to international lenders. The U.K. government lowered its stake in Lloyds Banking by 1%. Chemring net loss narrowed and revenues declined 23%. Ladbrokes surged after merger talks with privately owned Gala Coral.

ETE in $53 B Deal with Williams Co, Cigna Rejects $47 B Offer

Mukesh Buch
22 Jun, 2015
New York City

Energy Transfer Equity agreed to acquire Williams Companies for $53.1 billion. Cigna rejected $47 billion takeover bid from Anthem. AK Steel lowered its earnings outlook. Sequential Brands agreed to acquire Martha Stewart Living for $353 million.

SoftBank Targets India for Solar Projects in Partnership with Bharti

Hiruki Nakamura
23 Jun, 2015
New York City

Nikkei and Topix soared nearly 2% and the yen eased on the hopes that Greece and European lenders are nearing a compromise and avoid a debt default in the euro zone. SoftBank formed a joint venture with India-based Bharti Enterprises to bid for solar power projects.

Australian Indexes in 2-Day Rally, Flight Centre Plunges 14%

Marcus Jacob
23 Jun, 2015
New York City

Banks led the gainers in Sydney trading and the reference ASX 200 index jumped 1.3%. Healthscope Limited agreed to sell its domestic pathology operations for $105 million. Flight Centre Travel Group Ltd plunged 14% after the tour bookings operator lowered revenues outlook.

8-Day Rally in Sensex in India

Mukesh Buch
23 Jun, 2015
New York City

Bharti Enterprise agreed to form a venture with Japan-based SoftBank and Taiwan-based Foxconn Technology and bid for solar projects in India. DLF plans to raise up to ₹5,000 crore through non-convertible debentures offering.

Altice Offered

Nigel Thomas
22 Jun, 2015
New York City

European markets soared as negotiators voiced optimism for Greek discussion. Altice offered

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