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Mubadala Announces 2010 Financial Results

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According to the press release, “Financial highlights of the results are:

  • Revenue increased 22% year-on-year from AED 13.1bn to AED 16bn, as a result of a number of assets reaching operational milestones
  • Net profit for the year was AED 1.1bn and total comprehensive income for the year was a negative AED 315m, resulting from mark-to-market on investments
  • Total assets increased by 14% to AED 101.5bn
  • Total equity increased by 26% to AED 62.1bn in line with the approved contributions from the Government of Abu Dhabi
  • Total interest bearing liabilities remained flat while total debt to capitalization decreased from 37% to 30%
  • Strong liquidity position of AED 6.3bn
  • Credit ratings remain among the top corporate ratings in the region at Aa3/AA/AA by Moody’s, Fitch and S&P”

Read more: Mubadala Press Release

DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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Marsh & McLennan Companies to Acquire JLT Group

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Marsh & McLennan Companies, Inc. (MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, announced that it has reached an agreement to acquire Jardine Lloyd Thompson Group plc (JLT), a provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services. The transaction has been approved by the Board of Directors of each of MMC and JLT. JLT’s largest shareholder, Jardine Matheson Holdings, and JLT directors who collectively represent 40.5% of the issued and outstanding JLT shares in support of the transaction.

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Indigo Ag Raises Series E Round

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Indigo Ag, Inc. raised US$ 250 million in a Series E funding round. The company is focused on creating innovative microbial products that increase crop yields in the face of environmental, disease, and pest stress. The investors in this round include Baillie Gifford, Investment Corporation of Dubai, the Alaska Permanent Fund Corporation, and the company’s founder, Flagship Pioneering. After the Series E, in total, Indigo has raised over US$ 650 million.

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