Xinhua reported that French drugmaker Sanofi had become the focus of bribery investigations by Chinese authorities.
Asia/Pacific
Glencore Xstrata unit cuts workforce, reduces budget in Philippine mine
A unit of Glencore Xstrata revealed that it would scaling back on its workforce as well as its budget in the Tampakan copper-gold mine in South Cotabato, Philippines.
PAL nears completion of joint venture with Cambodia firm
PAL Holdings Inc assistant corporate secretary announced that the joint venture of Philippine Airlines with a Cambodian firm would be finalized this October.
ALECO's only bidder is San Miguel Energy Corp, Aboitiz Energy and Manila Electric backs out
A unit of San Miguel Corp remained the only bidder for ALECO after Aboitiz Energy and Manila Electric backed out.
Japan's Brother invests in the Philippines
Japanese printer maker Brother Industries opened a new manufacturing plant in the Philippines. Brother Industries, a printer maker based in Japan, opened a new manufacturing facility in the First Philippine Industrial Park in Batangas.
Latest News
A private survey revealed that China's PMI for the services sector showed signs of growth. The HSBC/Markit Purchasing Managers' Index (PMI) survey for the services sector in China showed signs of improvement.
Shares of Sony Corp fell 3% after it said no to the proposal of Daniel Loeb to sell one-fifth of its entertainment business.
Canalys told Bloomberg that Apple's market share in China plunged to just 5% during the second quarter, down from last year's 9%.
The Wall Street Journal reported that Acer would retreat from using Windows and embrace the Android operating system for its mobile devices.
Caesars Entertainment decided to sell a golf course it owns in Macau for USD 438 million to Pearl Dynasty Investment, formally ending its wait to be issued a casino operating license.
Tesco said it has agreed on a joint venture with a state-run company in China. International retailer Tesco Plc agreed on a joint venture with China Resources Enterprise Ltd but will cede control to the state-run firm.
Cheil Industries purchased a 50% stake in German lighting company Novaled for EUR 260 million. South Korea-based Cheil Industries bought a majority stake in Novaled, a lighting company in Germany that specializes in organic light-emitting diode (OLED) structures.
Sojitz Corp said it will be investing JPY 35 billion to build four solar power plants in Japan. Japan-based general trading company Sojitz Corp said it will be initiating its first few solar power projects in the country.
Sony Corp.'s hedge for its PlayStation game enterprise has backfired as dollar costs rise. The strategy of Sony Corp. that shielded its PlayStation game enterprise from a strengthening yen has backfired.
