US operator of shopping malls Simon Property Group announced its proposed spin-off of its cluster portfolio of its strip centers and malls as a REIT on Friday.
Firm Management
OTC exchange access now extended to SMEs in China
On Saturday, the Chinese State Council said that it has instructed the China Securities Regulatory Commission to life the approval restrictions on small and medium-sized companies with less than 200 shareholders.
North Korean calls on its citizens doing business in China to come home
The government of North Korea under Kim Jong-un appeared to be purging close allies of disgraced political leader and family member Chang Song-thaek as the former orders its business people in China to come home.
Grand Cinemas appoints CEO, unveils expansion phase
Parent company Gulf Film welcomed Debbie Stanford Kristiansen as new chief of its subsidiary, cinema chain for UAE Grand Cinemas as it prepares to implement plans for its next phase of expansion.
Samsung Electronics Co appoints Gregory Lee as President of North America Headquarters
Gregory Lee will be leading the North America Headquarters of Samsung Electronics Co. This will be in addition to his role as the President of Samsung Telecommunications America, the company said in a statement.
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RSA Insurance Group Chief Executive Officer Simon Lee resigned as the insurance company boosted its Irish reserves to £130 million or $212 million, Bloomberg reported.
Wal-Mart Stores Inc. on Friday appointed senior vice-president Krish Iyer as new chief executive officer of Wal-Mart India. Iyer was named the retailer's new local unit CEO two months after Wal-Mart called off its Indian joint venture with Bharti Enterprises Pvt.
As General Motors Co disposes its 7% shareholder interest in France's PSA Peugeot Citroen, the latter said it is currently in talks with Dongfeng about a potential tie-up.
Monte dei Paschi di Siena's board has opposed a proposal by its top investor to push back a €3 billion cash call to May next year. Monte Paschi's largest shareholder earlier threatened to vote against the impeding capital increase.
At his annual speech at the Kremlin, President Vladimir Putin acknowledged that actions to improve Russia's business climate should be done immediately after finally conceding that the state's economic problems were grown at home.
JC Penney Co Inc CEO Mike Ullman told Reuters exclusively that the company is planning to dispose and trim some of its top name brands like Joe Fresh clothes and its own jcp menswear in order to focus on brands that generate more sales for the company.
A spokesman for Snapchat confirmed to VentureBeat that the $50 million in funding raised by the startup was provided by a single investor, and that is Coatue Management.
A report by former investment banker and Wall Street observer Robert Lenzner highlighted the points why financial markets should welcome the appointment of a conservative and experienced economist like Stanley Fischer a vice chair of the US Federal Reserve.
The board of directors at Ford Motor Co is keen to know the immediate career plans of its chief executive officer, Alan Mulally, as speculation about the latter being the next head of Microsoft intensifies.
