HERE-Tencent Deal, Carl Icahn Surrenders, Starbucks Gives Pershing Square A Boost

HERE-Tencent Deal, Carl Icahn Surrenders, Starbucks Gives Pershing Square A Boost

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Map and navigation software maker HERE has been selected by Tencent to support the card platform of the Chinese Internet giant. The rival of TomTom will deliver the maps and data outside of China, including from Japan. Both parties have concluded an agreement on this. No financial details have been brought out. Tencent’s platform platform is used by various services of the Chinese, including by WeChat. . This social media app is a kind of combination of Twitter, Facebook and WhatsApp. With WeChat it is also possible to make payments, for example to buy a plane ticket or to order a taxi. The app already counts more than a billion users.

American investor Carl Icahn throws the towel into the ring on the Dell issue. He renounces a lawsuit that he filed against the computer manufacturer. He also ceases efforts to get other shareholders to continue to resist. Icahn went to court because he felt that Dell was releasing too little information about the proposed plan to return to the stock exchange.

This is done through the exchange of ordinary shares and cash for so-called ‘tracking stock’, whereby shareholders have limited ownership rights. According to Icahn too much value is lost with the proposed agreement. He realized, however, that conducting a lawsuit is unlikely to do anything. According to Icahn, his efforts have in any case led to a better deal being dragged out.

Pershing Square Holdings has done good business in the past quarter with its investment in Starbucks. Investments in ADP, Lowe’s and Chipotle also contributed to the higher total value of the investments. The Amsterdam-based investment vehicle of the American billionaire Bill Ackman saw its net asset value rise by 8.5 percent in the third quarter. That is slightly more than the 7.7 percent increase in the S & P 500 index, but slightly less than that of the Dow Jones index.

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I handle much of news coverage for tech stocks, and occasionally cover companies in different sectors. In the past, I've written for other financial sites and published independent investment research, primarily on tech companies. I have a B.A. in Economics from Columbia University. I'm based out of San Diego, but grew up in Southern New Jersey. I play basketball and tennis in my spare time, am a long-time (and long-suffering) fan of Philadelphia's sports teams, and alternate daily between using an iPad Air, a Galaxy Note 3, and one or two Windows PCs.

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