Peter Lyons News
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Ropes & Gray LLP added four new corporate partners. Bracewell & Giuliani LLP lawyers Jonathan Gill and Robb Tretter join the firm in New York as partners in the private-equity practice, focusing on distressed investing. Mark Wesseldine, previously of Fried Frank, Harris, Shriver & Jacobson LLP will be joining the firm as a finance partner in London. Victoria Lloyd, a capital markets and mergers and acquisitions lawyer also from Fried Frank, is joining Ropes & Gray in its Hong Kong office.
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Developers of modular reactors that don’t rely on government for more than half their licensing costs will have an edge as the U.S. picks projects to approve, the Energy Department official in charge of nuclear power said.
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Warren Buffett’s Berkshire Hathaway Inc. and Jorge Paulo Lemann’s 3G Capital agreed to buy HJ Heinz Co. for about $23 billion as the billionaires increased their bets on consumer products. Munger, Tolles & Olson LLP represented Berkshire Hathaway. Kirkland & Ellis LLP represented 3G Capital, and Davis Polk & Wardwell LLP provided legal counsel to the ketchup maker.
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Telefonica SA raised its bid a second time for Portugal Telecom SGPS SA’s stake in Brazil’s largest mobile-phone operator, offering 10 percent more hours before the Portuguese company’s shareholders vote on the deal.
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Little more than a year before he was criticized for breaking ranks with regulators for being the first to accuse Standard Chartered Plc of laundering Iranian money, Benjamin Lawsky, New York’s top banking official, was insisting on his own brand of justice at a charity carnival game, Bloomberg News’ Greg Farrell reports.
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Portugal Telecom SA , escalating a battle for Brazilian wireless operator Vivo Participacoes SA , is in talks with investors from the Middle East and Asia as it weighs a possible offer for Telefonica SA’s stake.
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Nuclear-power plant regulators will apply lessons from Japan’s reactor crisis immediately without delaying until licenses are renewed, the head of operations at the U.S. Nuclear Regulatory Commission said.
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More than 50 U.S. nuclear scientists, engineers and aides are in Japan helping its government struggling to control a crippled power plant. In the process, they are training for any future crisis at home.
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Fiat SpA wants the Brazilian government to extend tax breaks for new car buyers next year; GVT (Holding) SA probably will be acquired at a price less than its current level, according to BlackRock Inc.; Itau Unibanco Holding SA said profit in the third quarter was 2.27 billion reais ($1.27 billion); Organizacion Soriana SAB was raised to “buy” from “sell” at Citigroup Inc.; Endesa SA said nine- month profit fell 55 percent as power generation dropped and it had smaller gains from asset sales.
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Portugal Telecom SGPS SA , considering a 6.5 billion-euro ($7.8 billion) offer for its Brazilian venture, should invest in another Brazilian company or become a “boring utility,” shareholders said.
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