U.S. officials see the deal as a threat to NATO, for which Turkey provides the second-largest military.World Politicsread more
China may have signaled it's going more hard-line on trade, but it could be a good thing, former U.S. negotiator Clete Willems told CNBC.World Economyread more
Facebook's cryptocurrency project has already been met with skepticism from policymakers around the world.Technologyread more
As China's economic growth declines, some analysts say Beijing may have to spend more on infrastructure, adding to concerns about high debts.China Economyread more
After years of speculation, Neuralink, the brain-machine interface start-up co-founded by Elon Musk, started talking directly to the public on Tuesday.Technologyread more
United's Optum is launching a new partnership with John Muir Health aimed at helping the small northern California hospital operator become more competitive with its larger...Health and Scienceread more
"The charts, as interpreted by Carley Garner, suggest that the upside in the stock market has gotten more limited," Jim Cramer says.Mad Money with Jim Cramerread more
John Paul Stevens, who served on the Supreme Court for nearly 35 years and became its leading liberal, has died.Politicsread more
Aarti Borkar from IBM Security says artificial intelligence bias can exist at three levels: the program, the data and the people who design those AI systems.Cybersecurityread more
A key read on the industry, the Architecture Billings Index, fell into negative territory in June, according to the American Institute for Architects. Inquiries for new...Real Estateread more
The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
J&F Investimentos SA has agreed to sell a controlling stake in Havaianas flip-flop maker Alpargatas SA to the investment firms of Brazil's most prominent banking families for 3.5 billion reais ($1.1 billion), according to securities filings on Wednesday.
Under terms of the deal, Cambuhy Investimentos Ltda, Itaúsa Investimentos SA and the fund Brasil Warrant will split J&F's 86 percent stake in Alpargatas, the filling said. Both had bid 3.3 billion reais for Alpargatas before talks appeared to have collapsed, Reuters reported on Sunday.
The much-awaited sale is the first by J&F, the holding company overseeing the fortune of Brazil's billionaire Batista family, since it was slammed with a record-setting leniency fine linked to a corruption probe. Proceeds from the sale will go to help repay J&F's debt and speed up payments on the 10.3 billion-real fine, people told Reuters on Sunday.
The filings said the Cambuhy-led group will pay 14.25 reais for each Alpargatas common share and 11.40 reais for each preferred share.
São Paulo-based Alpargatas makes Havaianas flip flops worn by celebrities from Blake Lively to Jennifer Aniston. Its shares had surged 56 percent this year on expectations of a sale. Alpargatas also manages a wide array of Brazilian fashion brands including beachwear brand Osklen.
Itaúsa oversees the fortune of Brazil's Villela and Setubal families, who control São Paulo-based Itaú Unibanco Holding SA, Latin America's largest bank by assets. Cambuhy is the family office of Brazil's billionaire Moreira Salles family, also a major Itaú shareholder.
Reuters first reported the Cambuhy-led bid on June 16.
Banco Bradesco BBI advised J&F on the deal, while JPMorgan Chase & Co worked for the consortium of buyers.
According to people with knowledge of the situation, J&F's owners Joesley and Wesley Batista will use proceeds from the transaction to repay a 2.7 billion-real acquisition financing loan they took with state-controlled lender Caixa Econômica Federal.
The loan is under investigation by Brazil's audit court TCU for potential irregularities. The brothers signed a leniency deal in May after admitting to bribing almost 1,900 politicians to obtain cheap government loans for their businesses.
The Batistas had acquired Alpargatas in December 2015 from construction conglomerate Camargo Correa SA, which was ensnared in the same scandal - "Operation Car Wash". In addition to the Caixa loan, the Batistas will also have to pay for financing they took to buy out minority shareholders.
Other J&F-controlled assets on the block are dairy producer Fábrica de Produtos Alimentícios Vigor SA, pulpmaker Eldorado Brasil Celulose SA and a pool of power transmission lines, people directly involved in the situation said.
J&F expects to raise around 10 billion reais with asset sales and cut J&F debts by another 10 billion reais, Reuters reported last week.
Follow CNBC International on and Facebook.