Tumblr Inc.’s $1.1 billion purchase by Yahoo! Inc. marks the biggest deal for a venture-backed New York startup, bringing a windfall for East Coast investors Union Square Ventures and Spark Capital while laying a foundation for further investing in the region’s entrepreneurs.
Banks that opened more than 15,000 branches across the U.S. in the decade leading to the financial crisis are retreating from lower-income neighborhoods, even as the industry posted its second-most-profitable year on record.
A cap that President Barack Obama has proposed on the size of tax-advantaged retirement accounts is seen as potentially pushing savers to another product that limits payments to the government: life insurance.
Wells Fargo & Co., the largest U.S. home lender, is turning to former University of Notre Dame football coach Lou Holtz and a captive audience of real-estate agents to attract new business as the pace of U.S. mortgage refinancings is set to drop to the slowest since 2008.
MIG Inc. , the indirect owner of 47 percent of the leading telecommunications provider in the Republic of Georgia, reached a settlement with the creditors’ committee that resulted in the approval of a disclosure statement on Aug. 19.