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Cox & Kings' Aussie arm acquires 2 firms
Cox & Kings (Australia), the wholly-owned subsidiary of Cox and Kings (India), a travel and tour company, has bought MyPlanet Australia and Bentours International through a share sale agreement from First Choice Holdings Australia. The acquisition is being done through an ‘earn-out mechanism’ and is not being paid for from funds raised for acquisition from the company’s recent initial public offering (IPO).

Pak media hails resumption of Indo-Pak talks
Hailing the decision of the two neighbouring countries to resume dialogue, the Pakistan media today said credit must go to both sides for "seizing the moment and breaking the impasse" and that they should build on the "breakthrough" achieved in the meeting between the two Prime Ministers.

News of the day

Wipro rises 2%
The Wipro scrip rose two per cent amid falling market to Rs 604.15 after the net profit of the company rose 19 per cent to Rs 1,162 crore in the second quarter of the current financial year, as compared to the same quarter a year ago.
Public Relations

McCann as CEO of UBS Wealth Management Americas

Swiss banking firm UBS AG today said it has appointed Robert J McCann as the Chief Executive Officer of UBS Wealth Management Americas and member of the Group executive board. - Jai Balaji raises Rs 198.5cr via QIP - Akash Prakash: The capital inflow conundrum">Akash Prakash: The capital inflow conundrum - Head in a glass - Cognizant buys UBS captive unit for $75 mn - 'We are constantly looking for targets' - Cognizant buys UBS Group"s India service centre McCann, who is 51-years old, would immediately assume responsibility for the firm"s domestic wealth management businesses in the US and Canada, UBS said in a statement. He will lead nearly 8,000 financial advisors in more than 320 branches across the US, Puerto Rico and Canada managing Swiss francs 695 billion in invested assets. Prior to joining UBS, he had a 26-year career at Merrill Lynch, during which he held a variety of executive leadership positions throughout the firm. Before his departure in January 2009, McCann was vice chairman of Merrill Lynch & Co, Inc and president of Global Wealth Management. "Robert has an outstanding reputation as an inspiring and thoughtful leader and will apply his long and deep client relationship and business experience to gain market share, increase profitability and grow our Wealth Management Americas business," UBS Group CEO Oswald Gruebel said.


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