Basic Materials

Tesco PLC

Tesco cuts outlook after finding accounting error

Tesco (TSCO.L) has lowered its forecast for first-half profit by 250 million pounds ($408.50 million), its third warning this year, after finding a fault in its accounts, in the latest blow to the reputation of Britain's biggest grocer.

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Lear Corp. Files Chapter 11 Bankruptcy Protection

Lear Corp to buy leather supplier Eagle Ottawa for $850 million

Lear Corp, a maker of auto seats and electrical power systems, said it would buy automotive leather supplier Eagle Ottawa LLC for $850 million to strengthen its core seating business and boost its luxury seats portfolio.

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Gold Bars

Gold near two-month low; set for weekly drop on interest rate fears

Gold held near a two-month low on Friday and was headed for its worst week in five, hurt by strong U.S. economic data and fears that the Federal Reserve could hike interest rates sooner than expected.

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Asian Paints Ltd

Asian Paints picks up 51pct stake in Ethiopian paint maker Kadisco

Mumbai, India-based decorative and industrial paint manufacturer Asian Paints (International) Ltd picked up a 51% stake in Ethiopia-based paint maker Kadisco Chemical Industry PLC for an undisclosed amount.

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Eagle Paint and Wallpaper Inc

New Jersey paint retailers Norton Paint and Eagle Paint merge

Englewood, New Jersey-based paint retailer Eagle Paint and Wallpaper Inc bought troubled Paramus-based rival Norton Paint for an undisclosed sum to gain traction over rivals in the paint industry.

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HomeAway purchases Florida-based rental management firm Glad to Have You

Austin, Texas-based home rental platform HomeAway purchased Santa Rosa Beach, Florida-based guest management system Glad to Have You for an undisclosed sum to enhance its own rental listing service.

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Hedge funds bet most on gas, expects to be more bullish due to cold weather

The forecasts of the ongoing cold weather in several US key cities has made investors increase their bets on US natural gas futures.

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Shandong Ruyi Technology Group Co Ltd

Chinese cotton manufacturer to invest $2B in Pakistan

Shandong, China-based cotton and yarn manufacturer Shandong Ruyi Technology Group Co Ltd will invest $2 billion in the energy and textile sectors of Pakistan over the next two years.

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UK plastic supplier RPC Group adds Bosnian firm Helioplast in $13M deal

England-based rigid plastic packaging products supplier RPC Group PLC has added Bosnia and Herzegovina-based injection molder Helioplast d.o.o. in a deal valued at £8.4 million ($13 million).

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Norske Skog

Norwegian paper manufacturer Norske Skog agrees to offload remaining stake in Brazilian unit for $37M

Norway-based newsprint and magazine paper manufacturer Norske Skog inked an agreement to exit its remaining stake in its Brazilian operations to Papeles Bio Bio SA for $37 million.

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Anhui Conch Cement Co

China's Anhui Conch Cement to add to capacity through acquisitions

As the Chinese government plans to consolidate production, Anhui Conch Cement Co said it plans to increase its capacity to 30 million metric tons through acquisitions, Bloomberg reported.

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Taminco Corp

US chemicals group Taminco Corp to acquire Kemira's formic acid business

Taminco Corp, the world's largest alkylamines and alkylamine derivatives producer, said it had agreed to acquire the formic acid business of Finland-based chemicals firm Kemira.

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Pudong Financial District

Asia-Pacific M&A deals plunge to lowest since 2009- report

A report said merger and acquisition transactions fell in the Asia-Pacific region caused by a slowing in the energy and raw materials sectors.

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Banks sell Stemcor's loans to hedge funds-bankers

Lenders to troubled Stemcor, the world's largest steel trader, have been selling their exposure to hedge funds and distressed debt specialists before a key restructuring deadline on December 13, banking sources said on Monday.

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