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Time Warner and CBS Ripe to Merge
Time Warner and CBS's complementary strengths would make a merger most viable. Time Warner Inc and CBS Corp have flirted about a merger for many years and now may be a good time for it to happen.
Cathay Fortune Refuses Support for Discovery Metals Plan
Cathay Fortune said it would not support the plan of Discovery Metals to expand capitalization. The top shareholder in Discovery Metals Ltd, private equity firm Cathay Fortune Corp said it would not vote for the approval of the company's plan to increase capital funding.
Ameriprise to Bid for Scottish Widows
Ameriprise is set to bid for Scottish Widows. American financial service provider Ameriprise Financial is preparing a GBP800 million or US$1. 22 billion bid for Scottish Widows, the asset management arm of Lloyd's Banking Group.
HSBC Reviewing Iraq Presence
HSBC is reviewing presence in Iraq and expanding in Egypt. HSBC Holdings is currently undertaking its strategic review of operations in Iraq. At the same time, it is continuing to expand its investments in Egypt despite the current situation in the country.