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20

Aug

Stansted Airport to be sold by BAA

Airports operator BAA has decided to sell Stansted Airport, ending its long-running legal battle.

It has been fighting a 2009 Competition Commission ruling that it must sell Stansted because of the lack of competition between London airports.

BAA was told to sell off Stansted and Gatwick, but by then it had already started the process of finding a buyer for Gatwick.

13

Aug

Julius Baer to buy Merrill Lynch private bank outside U.S

Swiss private bank Julius Baer (BAER.VX) is to buy Bank of America’s (BAC.N) Merrill Lynch private bank outside the United States, paying 860 million Swiss francs (563 million pounds) to boost its assets under management by 40 percent and backing the deal with plans to raise 1.19 billion francs in new capital.

08

Aug

Starbucks CEO Just Joined Square's Board

Starbucks, the giant coffee seller, just invested $25 million in Square, the San Francisco-based payments startup.

Starbucks is taking a small piece of that round. Square authorized $200 million in new shares at a valuation of $3.2 billion. The company didn’t say who—if anyone—is buying the rest of the new shares, but the New York Times reported that Rizvi Traverse Management, an investor in Playboy and Twitter, was leading the round.