Sears to Partner on Real-Estate JV 

Sears said it plans to raise more than $2.5 billion by transferring properties to Seritage Growth Properties, a trust it wants to turn into a real-estate investment fund. It has agreed to partner with General Growth Properties on a real estate joint venture. Sears shares up 3% premarket.

 
Macerich Rejects Simon Property's Takeover Bid 

Macerich rejected the "best and final" bid from Simon Property Group, which promptly withdrew its $16.8 billion offer, ending for now the possible combination of rival mall operators in the United States.

 
Lend Lease JV Bids $1.22B for Singapore Site 

Lend Lease said a joint venture in which it holds a 30% stake bid US$1.22 billion for a mixed development site in the city state.

 
Uber Files Complaints Against European Governments Over Bans 

Uber has filed complaints against three European Union governments with regulators in Brussels after the U.S. car-hailing service faced bans for offering certain services in a number of European countries.

 
US Court Overturns Patent Rulings Against Cochlear 

Hearing implant maker Cochlear won a court victory in the U.S. that could allow it to partially recoup a US$131.2 million damages payment.

 
Standard Chartered Loses Another Senior Executive 

Standard Chartered said that another of its top global executives is leaving the bank, the latest in a string of departures by longtime senior managers.

 
Orient Overseas Orders 6 Container Ships From Samsung Heavy 

Orient Overseas said it has ordered six mega container ships from South Korean shipbuilder Samsung Heavy Industries for US$951.6 million.

 
Procter & Gamble Sells Vicks VapoStream Business to Helen of Troy 

Procter & Gamble, which has been selling brands to focus on its largest, most profitable operations, has sold its Vicks VapoSteam U.S. liquid inhalant business to Helen of Troy.

 
Delta, Aeromexico File for Antitrust Immunity 

Delta Air Lines and Grupo Aeromexico filed for antitrust immunity Tuesday, in an effort to compete on routes between the U.S. and Mexico via a new joint venture.