SoftBank shares attractive near-term as buyback eyed: UK's AVI

TOKYO (Reuters) – SoftBank Group’s (9984.T) planned $22.5 billion share buyback presents an attractive buying opportunity but it is not a clear longterm investment, said a London-based investor that has built up a small stake. Asset Value Investors (AVI) has spent around $75 million buying SoftBank shares, drawn by the size of the buyback and a nearly $3 billion position […]

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Sports tech group Catapult shares crunched after CEO ejected

Catapult, the company behind the GPS-based performance tracking device used by Australia’s top NRL and AFL teams, is in turmoil after revealing its chief executive Joe Powell resigned one week after the company pulled back on its underperforming mass market business. “The board and Mr Powell agreed that now is the right time for a new CEO to lead Catapult […]

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UBS's tech-savvy new boss Hamers not always loved by the Dutch

AMSTERDAM/ZURICH (Reuters) – Ralph Hamers made his mark as a tech-savvy chief executive who led Dutch bank ING (INGA.AS) back to profitability after cementing its position as a no-frills lender in Germany and simplifying its product portfolio. It is this record which is likely to have appealed to Switzerland’s UBS (UBSG.S), which named him CEO in a surprise move on […]

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India's Oyo launches Japan hotels in SoftBank JV

BENGALURU (Reuters) – Indian hospitality unicorn Oyo’s Japanese arm has launched operations in over 100 hotels across the East Asian nation in a joint venture with majority investor SoftBank Group Corp, as the company looks for a path to profitability. Softbank has been struggling to raise money for a second investment fund after the failed public offering of office-rental company […]

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Blackstone third-quarter earnings drop less than expected

(Reuters) – Blackstone Group Inc (BX.N), the world’s largest manager of alternative assets such as private equity and real estate, said on Wednesday its distributable earnings in the third quarter fell 8% year-on-year, but still beat analyst estimates. Blackstone reported a drop in proceeds from asset sales in its private equity business, offset partly by a rise in distributable earnings […]

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UBS, Simmons Energy pare bankers as shale M&A slows: sources

NEW YORK/HOUSTON (Reuters) – UBS Group AG and the energy arm of Piper Jaffray Companies have cut staff in their oil and gas investment banking teams, three people familiar with the matter said on Monday, as U.S. dealmaking continues to dry up. Mergers and acquisitions activity within the shale business is at its lowest level in a decade, excluding Occidental […]

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Breakingviews – Irish bookie’s $6 bln deal is worth a flutter

LONDON (Reuters Breakingviews) – Paying a 38% premium is usually a sure-fire way to destroy value. Not so with bookmaker Flutter Entertainment, which is offering $6.1 billion in shares to buy Canadian peer Stars Group. Cost savings alone almost justify the generous price, while post-deal revenue boosters look credible. The Dublin-based parent of Paddy Power and Betfair, and the Toronto-based […]

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