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This is a consolidation of sorts not just in digital media, but in Tencent's content interests: New Classics Media had been eyeing up an IPO of its own but instead picked up Tencent as an investor just in March of this year, when the Internet and messaging giant paid existing backer Chinese VC Enlight Media $524 million for a 27.64 percent stake in the company.
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The money will also pay existing trade creditors and contractors.
Governments seldom put aside enough money to pay existing pensioners, let alone to cover future costs.
They're taking 10 percent out of the principal every year to pay existing retirees.
The schemes typically collapse when the promoter cannot bring in enough money to pay existing investors seeking redemptions.
The company's contract with the United Auto Workers union allows it to hire new workers at wages of $14 an hour — half what it pays existing hourly employees.
Getco's richer offer would pay existing shareholders $3.75 a share, but only give cash for a portion of the shares.
The law obliged companies to pay existing pensioners in full and forbade them from emptying their pensions pot below a so-called minimum funding requirement (MFR).
Firms will hire all the workers it makes sense to hire at prevailing wages, the thinking goes, so any minimum wage that forces firms to pay existing workers more will make those jobs uneconomical, leading to sackings.
Twenty Republicans, led by Speaker John A. Boehner, went to the White House at Mr. Obama's invitation after a day of fine-tuning their proposal to increase the Treasury Department's authority to borrow money to pay existing obligations through Nov. 22.
As for the next fiscal confrontation — over a longer-term increase in the nation's debt limit, which is essential for the government to borrow to pay existing obligations — the poll had some of its only good news for Republicans.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com