Brookfield Business Partners to buy residential mortgage insurer Genworth MI Canada

Brookfield Business Partners to buy residential mortgage insurer Genworth MI Canada
TORONTO — Brookfield Business Partners LP has signed a deal to buy the remaining interest in Genworth MI Canada Inc. that it does not already own in an offer that values the company at about $3.8 billion. Brookfield owns a 57 per cent stake in the residential mortgage insurance company. Under the terms of the agreement, Brookfield will pay $43.50... Read More

Blackstone to buy Simply Self Storage from Brookfield for US$1.2 billion

Blackstone to buy Simply Self Storage from Brookfield for US$1.2 billion
TORONTO — Blackstone Real Estate Income Trust Inc. says it has signed a deal to buy Simply Self Storage from a Brookfield Asset Management real estate fund for approximately US$1.2 billion. Simply Self Storage has a portfolio totalling about 750,000 square metres across the U.S. Blackstone says the deal will add to the trust’s portfolio of self-storage facilities and make... Read More

Chinese fintech could shatter records with $35B share offer

Chinese fintech could shatter records with $35B share offer
HONG KONG — The world’s largest fintech company, China’s Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records. Alibaba-affiliated Ant Group, which operates a suite of financial products including the widely-used Alipay digital wallet in China and one of the world’s largest money market funds, will hold dual listings... Read More

German business confidence slips after 5 months of rises

German business confidence slips after 5 months of rises
BERLIN — German business confidence has declined for the first time after five straight monthly increases as coronavirus infections rebound across Europe, a closely watched survey showed Monday. The Ifo institute said its monthly confidence index fell to 92.7 points in October from 93.2 in September. It said that companies’ view of their current situation improved but their expectations regarding... Read More

Global shares fall on uncertainty over US election, pandemic

Global shares fall on uncertainty over US election, pandemic
TOKYO — Global shares were lower Monday amid widespread uncertainty over what the U.S. presidential election will portend for markets and economic policy. France’s CAC 40 slipped 0.9% in early trading to 4,863.83, while Germany’s DAX dropped 2.4% to 12,346.01. Britain’s FTSE 100 edged down 0.5% to 5,832.52. U.S. shares were to decline, with Dow futures sinking 1.0% to 27,902.... Read More