Kobe Bryant starts investment fund

The markets traded lower during the midday with the Dow falling 34 points to 18,518 as crude oil prices retreated. Nasdaq slipped 2 points to 5,235.


Circle K owner Alimentation Couche-Tard seeks to expand its presence by buying San Antonio, Texas based convenience store chain CST Brands in a deal valued at approximately $4.4 billion. CST was originally a division of Valero Energy and became an independent company in May 2013. Earlier this year, CST purchased Flash Foods Network. After Alimentation Couche-Tard completes the CST acquisition in 2017, certain Canadian assets of CST will be sold to Parkland Fuel for approximately $750 million.


Retired Lakers legend Kobe Bryant partnered with Dun & Bradstreet vice chairman Jeff Stibel to launch a $100 million media, technology and data venture capital fund. They named the new firm, which will be based in Los Angeles, Bryant Stibel. The fund is currently closed to outside investors.


The Committee on Foreign Investment in the United States has approved China National Chemical Corporation's proposed $43 billion acquisition of Swiss agricultural firm Syngenta. While several countries must still conduct anti-trust reviews of the deal, the transaction is expected to close by the end of the year.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers were on par with decliners on Nasdaq. The broader S&P 500 slipped 3 points to 2,180. Bitcoin climbed $9 to $586.

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