Australian billionaire Solomon Lew has spent 17 years blocking Woolworths Holdings Ltd. from taking full control of a local fashion chain. His intransigence is set to earn him a A$209 million ($197 million) payout.
Peter A. Levy, a founder of alternative investment funds who carried one of Wall Street’s most famous surnames as the son of Gustave Levy, a former senior partner of Goldman, Sachs & Co., has died. He was 77.
Citigroup Inc. Chief Executive Officer Vikram Pandit, who took a $1 salary after his bank received the most taxpayer assistance of any U.S. lender, is poised to collect $80 million from other payments and awards that may eventually total more than $200 million.
China’s $300 billion sovereign wealth fund may pick China Asset Management Co. , the country’s largest fund manager, to oversee part of its international investments, said a person with direct knowledge of the matter.
Wacker Chemie AG , the world’s second-largest maker of chemicals for production of solar modules and microchips, raised its outlook for annual sales following a recovery in demand for silicone used in electronics and cars.
China may allow foreign companies to sell stock in Shanghai next year, opening the world’s largest market for first-time share sales and advancing the city’s bid to become an international financial center.