(Reuters) – Advent International, a U.S. private equity firm with $36 billion in assets under management, is set to raise $2 billion for its new technology-focused fund, people familiar with the matter said on Wednesday. The fundraising underscores what data provider Preqin notes as demand to invest in tech-focused buyout funds which have outperformed their […]
DETROIT (Reuters) – Many global auto suppliers are striking an even more pessimistic tone about Chinese vehicle output this year than some research firms, with the suppliers bracing for the pain to be far greater than the single-digit percentage declines predicted by some in the industry. There have been 12 straight months of falling sales […]
A former secondary school teacher, who developed a romantic relationship with his 15-year-old student and impregnated her, was found guilty of sexual penetration of a minor yesterday. The 41-year-old man, who cannot be named to protect the girl’s identity, was convicted of 19 counts of sexual penetration, which occurred at his house on 10 occasions […]
Heart specialists in Singapore now have an extra set of helping hands in the operating theatre. The new assistant is a robotic arm which assists them in minute but vital surgical manoeuvres. It allows doctors to perform angioplasty more efficiently and precisely. During the procedure, doctors place stents – small tubes that can relieve blocked […]
News broadcaster CNA has removed local rapper Subhas Nair from its upcoming music documentary over his appearance in a controversial rap video on racism. CNA yesterday said it has also taken down articles on his involvement in the programme called Roar, which would have featured Mr Nair and three other Singapore musicians. The move comes […]
WASHINGTON/NEW YORK (Reuters) – A Chinese billionaire has been indicted by a grand jury on charges he schemed with the aluminum company he founded to evade $1.8 billion of tariffs by smuggling huge amounts of the metal into the United States, federal prosecutors said on Wednesday. Liu Zhongtian, 55, and China Zhongwang Holdings Ltd (1333.HK), […]
Theirs is a friendship struck up while serving in the military and it has lasted more than 40 years. One was an officer commanding (OC) of an armour company and the other was his runner and driver. Retired Lieutenant-Colonel Raymond Tan, 68, was an army regular taking up his OC appointment in 1977 while Mr […]
(Reuters) – The four major U.S. television networks on Wednesday sued a non-profit group backed by AT&T Inc (T.N) that streams TV channels over the internet for free without permission. The lawsuit was filed in U.S. district court in New York by CBS Corp (CBS.N), Comcast Corp’s (CMCSA.O) NBCUniversal Media, Fox Corporation’s (FOXA.O) Fox Television […]
NEW YORK (Reuters) – U.S. mortgage applications declined last week as potential home buyers scaled back on demand for home loans due to tight housing supply, the Mortgage Bankers Association said on Wednesday. The Washington-based group’s seasonally adjusted index on loan requests, both to buy a home and refinance one, fell 1.4% to 484.0 […]
NEW YORK (Reuters) – Shares of smaller U.S. companies have gotten cheap over the past year, significantly lagging their large-cap counterparts, and could be poised for a turnaround following a highly anticipated interest-rate cut from the Federal Reserve. Worries about a slowdown in economic growth have soured investor sentiment toward small-cap companies, which are more […]