BlackBerry Ltd.’s five-year deal to outsource smartphone production to Foxconn Group is jump- starting its transformation into a services provider, pleasing investors who were looking for a smaller, nimbler company.
Members of Bernard Madoff’s inner circle who are on trial for allegedly aiding his $17 billion fraud are focusing the jury on former colleagues who helped perpetuate the scheme for years and weren’t charged.
Investment bankers don’t get paid to be pessimists. Throughout the current slump in takeovers, mergers and acquisitions advisers have said a recovery was around the corner, awaiting a stronger U.S. economy, rising stock markets or an end to the European debt crisis.
Violin Memory Inc., the maker of flash storage that has lost half its value since a September initial public offering, should seek to sell itself to a strategic buyer, said activist shareholder Clinton Group Inc.
It’s 20 minutes before 4 p.m. in London and currency traders’ screens are blinking red and green. Some dealers have as many as 50 chat rooms crowded onto four monitors arrayed in front of them like shields. Messages from salespeople and clients appear, get pushed up by new ones and vanish from view. Orders are barked through squawk boxes.
Actavis Plc awarded Chief Executive Officer Paul Bisaro and four top managers about $115 million in early-vested stock and retention bonuses after the U.S. generic- drug maker bought Ireland-based Warner Chilcott Plc. It was a rare instance of rewarding executives of the acquirer.