PRESS DIGEST-Funds Industry News - Oct 4
LONDON Oct 4 (Reuters) - Independent
* Rupert Murdoch is facing a fresh wave of pressure from influential investment firms which have clubbed together to challenge his dual role as chairman and chief executive of News Corporation.
* Morgan Stanley is in talks to sell a majority stake in its commodities business to the Qatar Investment Authority.
* Louis Dreyfus Group and the hedge fund unit of JPMorgan Chase & Co are selling their jointly-owned energy trading business to an investor group.
Wall Street Journal
* Singapore state investor Temasek Holdings is putting pressure on Standard Chartered to appoint more independent directors.
Australian Financial Review
* Texas-based TPG, the last remaining bidder for Australia's Billabong International, might ditch its $700 million takeover offer for the surfwear retailer.
* Indebted Zabeel Investments, which is owned by Dubai's crown prince, has reached a $956-million debt deal with lenders.
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