In a year when Teva Pharmaceutical Industries Ltd. lost its chief executive officer, a patent ruling on its best-selling drug and analysts became the most bearish on the stock, the Israeli drugmaker is poised for the first gain since 2009.
India is seeking to revive the option of selling some government stakes in ITC Ltd., Larsen & Toubro Ltd. and Axis Bank Ltd. to raise funds, three Finance Ministry officials with direct knowledge of the matter said.
Fullerton Fund Management Co., owned by Singapore’s Temasek Holdings Pte, bought a stake in Indian film distributor Eros International Plc, gaining a foothold in the local movie industry known as Bollywood.
Hedge funds are betting on another run of yen weakness, a trade that made money earlier this year for billionaire George Soros, putting them in opposition to economists who see Japan’s currency little changed into 2014.
Activist funds, which buy stakes in companies in order to force changes in their operations, are one of the hottest trends in finance. Over the past year, the money flowing into them has surged so much that their assets under management are up more than 50 percent, while those of hedge funds as a whole have risen less than 15 percent.
Aberdeen Asset Management Plc agreed to buy Lloyds Banking Group Plc’s Scottish Widows Investment Partnership unit for 560 million pounds ($903 million), a deal that will create Europe’s largest publicly traded money manager.