City National Corporation, a private and commercial bank known as “Hollywood’s banker” is being sold in a cash and stock deal.
Battery Ventures, a venture capital firm with offices in Boston, Menlo Park, Calif., and Israel, has hired Dharmesh Thakker, a former Intel Capital managing director, as a general partner.
The private equity firm says it could not get deal financing on favorable terms. Shares of the retailer tumble.
The issue of gay rights is on the formal agenda for Davos. | Regulatory actions in China hit shares. | PepsiCo and Nelson Peltz announce a truce. | The apparent murder of a hedge fund manager by his son and the price of privilege.
The deal brings together three of Asia’s biggest conglomerates, and comes as the Chinese government has been pushing state-owned companies to become more competitive and open themselves to outside investment.
Stocks plunged 7.7 percent, the largest one-day decline since 2008, after regulators cracked down on borrowing to invest in shares.
No longer just the domain of intelligence agencies, “hacktivists” or criminal gangs, there is a growing cottage industry of ordinary people hiring hackers for much smaller acts of espionage.