Dissident Syms Corp. creditors are dissatisfied with the plan negotiated by the official creditors’ committee and intend to block approval of the reorganization plan in bankruptcy court at the Aug. 29 confirmation hearing.
The Rapaport Group plans to set up an online diamond exchange from October that’s open to banks, brokerages and other financial firms as well as industry members to benefit from increasing demand in China and India.
Humana Inc., the second-largest Medicare provider, is willing to spend $1 billion for deals that would enable the company to expand in the U.S. government program, Chief Executive Officer Michael McCallister said.
Ally Financial Inc. , the auto lender that almost went bankrupt in 2008, has at least one thing in common with Facebook Inc. and Twitter Inc.: Its shares are surging in private trades ahead of a possible public offering.
Publicis Groupe SA’s Kekst & Co., the New York-based firm that pioneered public relations for corporate takeovers, named Larry Rand chief executive officer as founder Gershon Kekst gives up daily management of the company.
CVS Caremark Corp. agreed to buy the Medicare Part D unit of Universal American Financial Corp. for about $1.25 billion, more than doubling the size of its program after pharmacy-benefits management sales fell for two quarters.