News

Allianz, one of Europe’s biggest insurers, is weighing options for its Allianz Global Investors unit, including a possible merger or partial sale of the division, four people with knowledge of the matter told Reuters, in a move that would give the business greater scale. AllianzGI, which oversees 555 billion euros ($560 billion) of assets according to its website, could be valued at more than 4 billion euros, including debt, one of people said.  Why it matters  The considerations come on the heels of BNP Paribas’ decision to buy AXA Investment Managers for more than 5 billion euros, a transaction that bankers expected would spur more dealmaking.   The post Allianz weighs options for AllianzGI unit  appeared first on Reuters News Agency.   Source: Reuters News Agency 

China is considering approving next week the issuance of over 10 trillion yuan ($1.4 trillion) in extra debt in the next few years to revive its fragile economy, a fiscal package which is expected to be further bolstered if Donald Trump wins the U.S. election, two sources with knowledge of the matter told Reuters.  Why it matters  The planned total amount, to be raised by issuing both special treasury and local government bonds, equates to over 8% of the output of the world’s second-largest economy, which has been hit hard by a protracted property sector crisis and ballooning debt of local governments.   The post Eyeing US election, China considers over $1.4 trillion in extra debt over next few years  appeared first on Reuters News Agency.   Source: Reuters News Agency 

Private equity firm Carlyle has dropped out of a process to buy the marine division of German conglomerate Thyssenkrupp, marking the latest blow to the firm’s ongoing restructuring efforts, Reuters exclusively reported. Thyssenkrupp shares fell as much as 4.5% on the news.  Why it matters  Carlyle’s withdrawal as a suitor for Thyssenkrupp Marine Systems (TKMS) is the latest setback for Thyssenkrupp Chief Executive Miguel Lopez’s efforts to disentangle the sprawling conglomerate, which has been in crisis-mode for several years.   The post Carlyle quits bidding process for Thyssenkrupp marine arm appeared first on Reuters News Agency.   Source: Reuters News Agency 

Altair Engineering’s shares jumped more than 14% on Tuesday after Reuters exclusively reported that the engineering software maker is exploring a sale after receiving acquisition interest.  The post Engineering software firm Altair explores sale, sources say  appeared first on Reuters News Agency.   Source: Reuters News Agency