Manila Electric Company (Meralco) said that its wholly owned arm would acquire a stake from GT Capital Holdings' power generation unit, according to a report from Reuters.
Investors
Microsoft-Nokia consolidation not appealing to app makers
Microsoft Corp, fresh from its buyout agreement with Nokia Oyj, would need to convince app makers to partner with them in order to regain market share in the smartphone market.
Koch Bros forays into power market with Texas plant purchase
Koch Industries Inc had announced its acquisition of a 1,055-megawatt Odessa Power plant in Texas. On Tuesday, Koch Industries Inc said that it had bought the 1,055-megawatt Odessa Power plant through its unit of subsidiary Koch Energy Services LLC.
Nestle plans to divest Jenny Craig - sources
Sources told Reuters that Nestle had plans to exit from its unprofitable businesses like Jenny Craig.
Disney halts stock certificate issuance to fans
Bloomberg reported that Walt Disney Co had planned to stop the issuance of stock certificates in its physical form and issue them in digital form instead.
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Tweeter Home Entertainment Group was assigned a new trading symbol to avoid investor confusion when Twitter Inc. would start its public offering debut.
On Semiconductor Corp said it would cut 870 jobs at its Sanyo Semiconductor unit as the company seeks to reduce its spending costs, said a Reuters report.
On Tuesday, Finance Minister Luis Videgaray said that Mexico had urged the United States to reach an agreement to raise the nation's debt limits to avoid a possible default that could ruin the international reputation of the country.
Asian share prices fell as the US government shutdown would reach a deadline that would probably cause a first ever US debt default if left unresolved, said a Reuters report.
US President Barack Obama would nominate the Vice Chairwoman of the Federal Reserve to replace outgoing chairman Ben Bernanke whose term ends in January next year.
Jos. A. Bank had approached Men's Wearhouse for a possible merger although the type of tie-up was not clearly stated, reported the Wall Street Journal.
Under its new CEO Doug Lawler, Chesapeake Energy Corp had cut down around 1200 jobs to reduce company spending and lift profit.
After accumulating nearly 6% of total shares in Talisman Energy, Carl Icahn has prepared to provide direction as to sales of assets of the Canadian energy firm.
JP Morgan Chase & Co, the biggest bank in the US, would cut lending to some businesses as risks confronted the bank's reputation, said a report from the Wall Street Journal.
