SAN FRANCISCO - Hewlett-Packard Co raised its 2013 earnings outlook after quarterly results beat low expectations, as CEO Meg Whitman's turnaround plan helped offset shrinking personal computer sales with enterprise computing services.
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.
Private equity group Bain is unnamed Billabong bidder -sources
MELBOURNE (Reuters) - Private equity firm Bain Capital LLC is the unnamed second bidder for Australian surfwear company Billabong International (BBG.AX), two sources familiar with the matter said on Thursday.
Billabong said earlier it received a second takeover approach late on Wednesday, valued around A$694 million ($707 million) and matching an existing bid from private equity suitor TPG Capital TPG.UL.
Shares in Billabong jumped 9 percent to their highest in three weeks after resuming trade on Thursday morning.
A Billabong spokesman declined to comment on the identity of the new bidder.
Two sources told Reuters the second bidder was Bain. They declined to be named due to the confidentiality of the information.
(Reporting by Miranda Maxwell; Editing by Edmund Klamann)
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