In order to protect shareholder's interests, U.S. allows companies to have dual share structures but with additional safeguard measures as the Securities and Futures Commission last month declined to provide a waiver to Alibaba to nominate a majority of directors from its 28 partners.
Regions
The Hunt raises USD5.5 million for strange shopping app
The Hunt, an online community where you can track down items you covet, raised USD5.5 million in its first round of institutional funding to create an iPhone app for the site.
iPhone maker Foxconn to invest in USD40 million in Pennsylvania
iPhone maker Foxconn Technology Group said it plans to invest USD40 million in Pennsylvania for the development of robotics and a high-tech manufacturing facility for telecom and internet equipment.
Sony announces its plans to make fewer films; sets its eyes on television
Sony Pictures Entertainment executives announced that it would cut down the number of films it produces per year and will focus instead on higher-margin television production and operating TV channels.
Shandong Weigao put up Biosensors stake for sale
Hong Kong's Shandong Weigao Group on Friday announced that it will sell its entire 21.7% stake in Biosensors International Group for USD312.3 million. The stake will be sold to CB Medical Holdings.
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Third Point's Daniel Loeb said he held more than USD 1 billion stake in Softbank Corp while Greenlight Capital's David Einhorn warned of "bubble-like" conditions in some stocks in the Robin Hood Investors Conference.
A USD800 million settlement between feeder fund Kingate Management and bankruptcy trustee Irving Picard has collapsed. The Justice Department ruled out feeder funds from payouts out of the USD2.35 billion Madoff Victim Fund.
China's Shandong Weigao Group Medical Polymer Co Ltd announced its intention to sell its entire 21.7% stake in medical device manufacturer Biosensors International Group Ltd for USD312.3 million.
Judge Thomas Bennett of the US Bankruptcy Court in Birmingham, Alabama approved Jefferson County's debt restructuring plan to exit bankruptcy after a 14-hour hearing on Thursday, November 21.
A recent survey by analytics company Worthworm found that 46% of Angel investors regretted the investments they made in 2013 because of overly optimistic financial projection and unrealistic pre-money valuations.
US-based party goods retailer Party City Holdings Inc is preparing for a potential initial public offering (IPO) in early 2014, according to anonymous sources familiar with the matter.
Officials of Jefferson County in Alabama said it had arrived at a new agreement with its Wall Street creditors that would pave the way for its exit from its USD 4.2 billion bankruptcy.
Nyeri County and Karatina University in Kenya are working on a project that can turn sewage into biogas that can power the local water pumps and reduce electricity costs.
A report from the UN Food and Agriculture Organization revealed that political will and farmer involvement are crucial for biotech research and innovation to succeed in reducing poverty in developing countries.
