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Blackstone wins bidding war for UK music rights firm
Blackstone wins bidding war for UK music rights firm
Economy
by  AFP

US private equity firm Blackstone emerged victorious Thursday in a takeover battle for struggling UK music rights owner Hipgnosis Songs Fund, after American group Concord refrained from improving its bid. The US private equity house last week ramped up its bid to $1.30 per share.

Nissan annual net profit nearly doubles on-year
Nissan annual net profit nearly doubles on-year
Economy
by  AFP

Nissan said Thursday it nearly doubled its full-year net profit in 2023-24 but forecast a dip of around 10 percent for the current financial year. Thursday's results struck a different tone to an announcement last month when Nissan trimmed its sales and profit outlook for 2023-24, predicting a more modest net profit of 390 billion.