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.
Regions
Central bank of Russia shuts down Investbank, two more in criminal activity crackdown
Investbank, Smolenksy and Project Finance Bank had been stripped off of their operating licenses due to dubious activity and payment issues with creditors and depositors, the Russian central bank said in separate statements on Friday.
Blackhawk Network agrees on partnership with Opengate Technologies to bring iTunes Gift Cards to South Africa
California-based Blackhawk Network Inc will be entering the prepaid market in Africa through a partnership with South Africa-based Opengate Technologies to distribute iTune Gift Cards to the country.
Russian investor AddVenture invests in e-store Nebo.ru and food startup Chefmarket.ru
Moscow, Russia-based fund AddVenture has invested $2 million in online jewelry seller Nebo.ru and an undisclosed amount in food delivery startup Chefmarket.ru for their marketing and expansion projects.
Wal-Mart appoints new India CEO two months after Bharti joint venture collapse
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.
Latest News
Philippines-based oil firm Trans-Asia Oil and Development Corp has agreed to acquire an unspecified amount of shares worth PHP136 million in Frontier Oil Corp next year, the latter said in a stock exchange disclosure.
GLG Partners, a London-based hedge fund, agreed to settle claims that it overvalued the purchase of a mining asset in 2008 in a deal worth about $9 million, Bloomberg reported.
Data from Thomson Reuters Lipper service showed that investors of US-based stock mutual funds pulled out a total of $6.51 billion in the week ending December 11, Reuters reported.
Despite releasing the local assets back to Nokia Oyj, the Delhi High Court clarified that the Finnish company will still be liable to any remaining tax bills from the local mobile phone plant that Microsoft will be acquiring.
US-based professional technical services provider Jacobs Engineering Group Inc announced the completion of its merger with Australia-based firm Sinclair Knight Merz in a deal valued at AU$1.3 billion.
California-based hybrid storage solutions provider Nimble Storage is expected to raise $184 million on its debut on the New York Stock Exchange tomorrow with shares priced between $18 to $20 apiece.
Saputo Inc., Canada's biggest dairy company, has extended its bid for Warrnambool Cheese and Butter Factory Co. by a week to next Friday. Saputo is up against Murray Goulburn Co-operative Co. Ltd. and Bega Cheese Ltd. for the Australian dairy firm, according to a Reuters report.
In its first acquisition after going public, Australia-based insurance brokering network Steadfast Group Limited has bought a 60% stake in underwriting agency Protecsure Pty Limited.
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.
