- Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc, the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Nomura excluded from $6 billion Japan Tobacco share sale
TOKYO (Reuters) - The Japanese government's sale of shares in Japan Tobacco (2914.T), which could raise some $6 billion, will be handled by JPMorgan Chase & Co (JPM.N), Goldman Sachs (GS.N), Daiwa Securities (8601.T) and Mizuho Securities, the Ministry of Finance said on Monday.
Nomura Holdings (8604.T), under investigation for insider trading, was not selected despite its leading position in underwriting shares in Japan.
The offering in Japan Tobacco, the world's third-largest cigarette company, is expected to rank as one of Japan's largest share sales of recent years.
Nine investment banks were shortlisted earlier this month from 12 banks that submitted bids.
The ministry is planning to cut the government's stake in Japan Tobacco to one-third from half to raise money to help fund reconstruction efforts in areas devastated by last year's earthquake and tsunami.
(Reporting by Junko Fujita; Editing by Michael Watson)
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