A look at some must-read news on deals and deal makers around the world
Bronfman's Warner Music up for sale
Warner Music, which has been a profitable venture for its private equity owners including Edgar Bronfman, has hired bankers for an unusual play -- buy or be bought, The New York Times reports. Bucking the impression that the music industry is dead, Warner has managed to improve margins and pay big dividends to its owners.
Wall Street bonuses down 5 to 10 per cent
It's pay cut time for the securities industry after a slower year, Bloomberg reports. Goldman Sachs Group Inc. workers, however, will be feeling better than those at JP Morgan.
OMERS looks at more alternatives
Pension fund Ontario Municipal Employees Retirement System is shifting more into alternative investments such as private equity. The increased allocation, combined with inflows into the plan, mean about $20-billion in new private investments in the coming five years. The deal flow should be fun to watch, but is OMERS moving at the wrong time in the cycle?
Shanghai looks at international listings
The mayor of Shanghai is on board with a plan to create a way for foreign companies to list on his city's stock exchange, Reuters reports. At the moment, unlike Hong Kong, Shanghai is limited to Chinese companies.
Bjork says Magma Energy deal in trouble
Yes, that Bjork (as if there was more than one). The singer has been campaigning against a deal by Canada's Magma Energy to buy an Icelandic geothermal company, and she says that the government is listening, according to the Financial Post. Magma says that Bjork's contention is just hearsay. So why is she against it? Like the lyrics of her songs, it's not all that clear. It seems to have something to do with cheap heating and maybe "banksters" and a world at "the end of communism and capitalism."
Follow Streetwise on Twitter: @StreetwiseBlogReport Typo/Error