Samsung’s de facto holding company has a mega-successful IPO.
Cheil Industries more than doubled its market capitalization as it raised 1.52 trillion won ($1.38 billion). The IPO will help the family of ailing CEO Lee Kun-hee consolidate control of Samsung’s sprawling empire as the company prepares for a generational power transfer.
December 17, 2014
Cuba and the US are restoring diplomatic relations.
The body voted 498 to 88 to recognize “in principle” the idea of Palestinian statehood. The vote is symbolic, but adds to a recent swell of international pressure in favor of the Palestinians, who are also pushing for the UN to call on Israel to pull out of the West Bank by November 2016.