April 15, 2021

Deal

Microsoft buys speech recognition company Nuance in $16B deal, second biggest since LinkedIn

Microsoft announced Monday that it will buy speech recognition company Nuance Communications for $16 billion, the tech giant’s largest acquisition since it bought LinkedIn for more than $26 billion in 2016.

The deal is the latest sign Microsoft is hunting for more growth through acquisitions. The company is also reportedly in talks to buy the chat app Discord for about $10 billion and last year tried to buy TikTok’s U.S. business for about $30 billion before the deal was derailed. Last month, Microsoft acquired gaming company Zenimax for $7.6 billion.

Shares of Nuance were up nearly 23 percent in premarket

Read More

Exclusive: Ingersoll Rand nears $1.7 billion deal to sell golf cart business to Platinum Equity – sources

(Reuters) – Pumps and compressors manufacturer Ingersoll Rand Inc is nearing a deal to sell its golf cart business to private equity firm Platinum Equity LLC for around $1.7 billion, people familiar with the matter said on Sunday.

The deal will separate Ingersoll Rand from a business it acquired in 1995. It is the latest in a series of divestitures that CEO Vicente Reynal has embarked on to pay down debt and streamline the company’s portfolio following the merger last year of Ingersoll Rand’s industrial business with Gardner Denver Holdings Inc.

A deal could be announced as early as Monday,

Read More

UPDATE 1-Mexican government reaches deal with business over outsourcing

(Adds context, details)

MEXICO CITY, April 5 (Reuters) – Mexico’s government said on Monday it had reached a deal with business and labor representatives on a new legal framework for subcontracting staff that would boost profit sharing for workers and allow only specialized services to be outsourced.

The accords follow months of negotiation between business leaders and leftist President Andres Manuel Lopez Obrador over a draft bill to make outsourcing tougher, which has caused concern in the private sector in Mexico and the United States.

The measures agreed will now pass to Congress for debate, the government said in a

Read More

GE Stock Rallies As Deal For Biggest Piece Of Finance Unit Expected Soon

General Electric (GE) is reportedly nearing a $30 billion deal to combine its aircraft-leasing business with Ireland’s AerCap Holdings (AER), as the coronavirus pandemic stress-tests its core aviation business. GE stock rose and AerCap stock jumped.




X



The industrial conglomerate could announce the merger as soon as Monday, sources told the Wall Street Journal. The move could speed up GE’s turnaround, improving its balance sheet and cash flow.

GE Capital Aviation Services (GECAS) is largest remnant of the company’s once mighty financial services unit, which dragged down GE stock during the 2007-2008 financial crisis.

GE

Read More

Michigan GOP to probe Whitmer $155K ‘hush money’ deal as new severances emerge

LANSING — Michigan Gov. Gretchen Whitmer is under fire for an expensive separation and confidentiality deal with her former health department director that experts are calling a rare arrangement that may fuel distrust.

It’s “hush money,” according to legislative Republicans, who plan to investigate the $155,506 payout they contend was designed to ensure Robert Gordon will not discuss controversial COVID-19 orders that were developed behind closed doors. 

Gordon announced his abrupt and unexplained resignation on Jan. 22, exactly one month before he signed an agreement with the Democratic administration that paid him the equivalent of nine months salary and extended

Read More

London could lose out to New York under draft EU finance deal: document

LONDON (Reuters) – The City of London’s finance industry would be worse off than rival New York under an early draft for a cooperation agreement in financial services between Britain and the European Union, a document, seen by Reuters, showed.

FILE PHOTO: Buildings are seen in the Canary Wharf business district, as a man cycles along a path, amid the outbreak of the coronavirus disease (COVID-19), in London, Britain January 27, 2021. REUTERS/Peter Cziborra/File Photo

Britain’s financial services industry has been largely cut off from the EU, its biggest customer, since a Brexit transition period ended on Dec. 31 as

Read More