August 1, 2019 / 5:13 AM / 4 months ago

PRESS DIGEST- Wall Street Journal - Aug 1

Aug 1 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

- Private-equity firm Gateway Mercury Holdings LLC is buying flower-delivery service FTD Companies Inc out of bankruptcy following a court-supervised auction for $118 million, according to a person familiar with the matter.

- A consortium that includes U.S. private-equity firm TPG Capital has entered into an exclusive agreement to buy the Southeast Asian hospitals owned by Columbia Pacific Management Inc, in a deal that could value those assets at over $1 billion, people with knowledge of the process said.

- The U.S. Federal Reserve on Wednesday moved to cut interest rates by a quarter-percentage point—the first reduction since 2008—in a pre-emptive strike to cushion the economy from a global slowdown and continuing trade tensions.

- Prostar Capital has made the final investment from its first private-equity fund by buying an oil-storage terminal on a Caribbean island in a deal that furthers the firm's international reach amid a push to raise its next fund.

- German venture-capital firm Wellington Partners has secured 210 million euros ($231.90 million) for its largest life sciences fund, a vehicle it will deploy at a time of rising investment in European health-care startups.

$1 = 0.9056 euros Compiled by Bengaluru newsroom

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