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February 21, 2017 7:15 AM Telefonica to sell up to 40 percent of Telxius to KKR for 1.3 billion euros

MADRID Spain's Telefonica (TEF.MC) said on Tuesday it had agreed to sell up to a 40 percent stake in its telecom masts subsidiary Telxius to private equity firm KKR (KKR.N) for 1.275 billion euros ($1.35 billion). The sale would be seen as a small step in bringing down Telefonica's 50 billion-euro debt pile, but will help to show investors that last year's 17

February 20, 2017 10:31 AM Kraft in swift reversal on Unilever bid, hitting shares

LONDON Kraft Heinz Co's (KHC.O) rapid retreat from its surprise $143 billion bid for Unilever (ULVR.L) (UNc.AS) in the face of stiff resistance from the company and politicians sent shares in the Anglo-Dutch group 8 percent lower on Monday. Kraft, which is backed by Warren Buffett and the private equity firm 3G, wanted to buy Unilever as part of its strategy 18

February 20, 2017 8:00 AM Unilever Shares Tumble After Kraft Pulls Its Bid

Shares in Anglo-Dutch consumer goods group Unilever (ul) dropped 8% on Monday after U.S. rival Kraft Heinz (khc) abruptly ditched its surprise $143 billion merger proposal. Backed by Warren Buffett and the private equity firm 3G, Kraft had wanted to buy Unilever to build a global consumer goods giant but its offer was flatly rejected on Friday by the maker 18

February 20, 2017 12:48 AM Kraft Heinz and Unilever’s food fight

Kraft Heinz’s $143 billion bid for Unilever is a low-ball offer but if it comes back with more, Unilever will need to serve up with some clever ideas to stay independent Size is no defence. Unilever was valued at £101 billion prior to Kraft’s interest leaking. But it is trapped in some awkward trends. Even though it is an international stock denominated 26

February 19, 2017 3:39 PM James Brown's 'Funky Drummer' Clyde Stubblefield dies at 73

Clyde Stubblefield, a drummer for James Brown who created one of the most widely sampled drum breaks ever, died Saturday. He was 73. His wife, Jody Hannon, told The Associated Press that Stubblefield died of kidney failure at a Madison, Wisconsin, hospital around noon. He had been suffering from kidney disease for 10 years, and had been hospitalized 17

February 19, 2017 5:04 AM IMF to Loan Mongolia $440 Million as Part of Bailout Package

Mongolia reached an initial agreement with the International Monetary Fund for a three-year program that includes a $440 million loan package as part of a $5.5 billion bailout to help the north Asian country with looming debt repayments. “The Asian Development Bank, the World Bank and bilateral partners including Japan and Korea are expected to provide 18

February 18, 2017 7:24 AM Unilever Rejects Kraft Heinz's Initial Bid

On February 17, Kraft Heinz (Nasdaq:KHC) approached Unilever (NYSE:UL, NYSE:UN) with an offer to buy it out for $30.23 in cash plus 0.222 Kraft Heinz shares, a total consideration of some $143 billion and an 18% premium over Unilever's closing share price the previous day. Unilever promptly rejected the offer in no uncertain terms, but Kraft Heinz indicated 19

February 17, 2017 12:11 PM NY Fed: US household debt at highest level since 2008

Household debt in the U.S. totals a staggering $12.58 trillion, a level not seen since 2008, according to the New YorkFederal Reserve's quarterly report released Thursday. The figure represents a $226 billion increase in household debt for the fourth quarter, the largest quarterly increase since 2013. The ballooning debt figure is attributed mostly to rising 12

February 16, 2017 4:30 PM U.S. Household Debts Climbed in 2016 by Most in a Decade

Household debts climbed by $226 billion to $12.6 trillion in the fourth quarter The total amount of debt held by American households climbed in 2016 by the most in a decade, driven by broad and steady increases in credit card debt, auto and student loans, and a fourth-quarter surge to the highest amount of mortgage originations since before the financial 20

February 16, 2017 4:15 PM Senate confirms Rep. Mick Mulvaney as Trump’s budget chief

Senators confirmed Rep. Mick Mulvaney (R-S.C.) to lead the Office of Management and Budget in a narrow vote Thursday morning, giving the congressman one of the most powerful positions in President Trump's Cabinet and the responsibility of reconciling the new administration's conflicting spending priorities. The Senate confirmed Mulvaney by a vote of 51-49. No Democrats 21