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.