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Companies team for technologies
ABERDEEN, Scotland, July 7 (UPI) -- Aberdeen Asset Management will pay about $482 million to acquire Deutsche Bank's troubled British mutual fund operations.
Deutsche Asset Management has about $90 billion under management but has been losing investment mandates and staff because of stock price declines, the Financial Times reported Thursday.
The deal, which will treble assets under Aberdeen's management to about $130 billion, features a deferred element by which Aberdeen will only pay the full price if it is able to stem further mandate losses at DAM.
"This is a transformational acquisition for Aberdeen. We are acquiring some world-class businesses that will substantially increase our scale and diversify our revenue streams," said Martin Gilbert, Aberdeen's chief executive.
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WASHINGTON, May 23 (UPI) --
U.S. scientists said they found a way to determine the difference between oil from natural seeps and that from commercial production offshore.
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ORLANDO, Fla., May 23 (UPI) --
A new labor agreement between Lockheed Martin and workers at three company facilities has been ratified and is now in effect.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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