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Blackstone, Kirkbi launch sale of insulation maker Armacell – sources

Buyout group Blackstone and Danish family investor Kirkbi are launching the sale of German insulation foam maker Armacell in a potential 1.3-1.5 billion euro ($1.43-$1.65 billion) deal, people close to the matter said. Rothschild has been brought in to handle the deal, the people said. Blackstone and Kirkbi, the owner of the Lego toy brand, declined to comment, as did Rothschild. …read more […]

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“Call of Duty Mobile” smashes records with 100 mln downloads in first week

The mobile version of videogame franchise “Call of Duty” racked up 100 million downloads in its first week, industry site Sensor Tower said on Tuesday, dwarfing the debuts of previous smashes including “Fortnite” and “PlayerUnknown’s Battlegrounds” (PUBG). “This is by far the largest mobile game launch in history in terms of the player base that’s been built in the first week,” said Randy Nelson, Head of Mobile Insights at Sensor Tower. The first-person shooter hit’s publisher Activision Blizzard Inc launched Call of Duty: Mobile on Oct. 1. …read more […]

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UPDATE 1-Exxon to make $500 mln initial investment in Mozambique LNG project

Exxon Mobil plans to invest more than $500 million in the initial construction phase of its liquefied natural gas (LNG) project in Mozambique. The U.S. oil company’s $30 billion Rovuma LNG project, jointly operated with Italy’s Eni, has a capacity of more than 15 million tonnes a year (mtpa) and is set pump much-needed cash into the southern African nation’s ailing economy. “The Area 4 partners will advance midstream and upstream area project activities of more than $500 million as initial investments,” Exxon head of power and gas marketing Peter Clarke told a ceremony in Mozambique’s capital Maputo …read more […]

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Business News

Biggest U.S. index funds oppose most climate proposals in shareholder votes

The far-reaching impacts of climate change on companies have investors pressing corporate leaders for action to minimize environmental damage and to maximize disclosure of risks to their businesses. The threats range from more frequent floods or wildfires that imperil major assets to regulations that could undermine profits.

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Deutsche Bank Plans About Half Its 18,000 Job Cuts in Germany

(Bloomberg) — Deutsche Bank AG intends to make about half its 18,000 planned job cuts in Germany as it relies on savings at the retail units to lower costs, according to people familiar with the matter.The lender employed about 41,700 people in its home market at the end of last year, out of a total of 91,700. Outside Germany, London will also be hit especially hard, partly because of Brexit, while the U.S. may see a lower share of front-office cuts once the bank has exited its equities trading business, the people said, asking not to be identified because talks …read more […]