French Crédit Agricole and its investment bank unit asked employees to cut costs. French bank Crédit Agricole launched a program to cut its costs by sending members of its investment-banking unit a memo to reduce travel, lodging, meal expenditures.
Sectors
RWE and Qatar in negotiation for purchase of DEA unit
RWE and Qatar are currently holding talks about possible purchase of RWE's DEA oil and gas exploration and production unit.
Orix Corp. to expand equity holdings to Southeast Asia, Middle East
Orix Corp. stated it would invest half a billion dollars in fast growing markets. Japan's most active financial firm in acquisition, Orix Corp. , revealed plans to spend JPY50 billion (US$506 million) on buyouts around Southeast Asia and the Middle East within the next 12 months tapping on faster-growing markets.
Icahn to raise bid for Dell Inc.
Billionaire investor Carl Icahn said in an interview with Bloomberg TV his planned sweetening of his takeover bid for Dell Inc with an additional warrant offer.
Quiksilver announces pricing of private offering
Quiksilver Inc announced the pricing of a previously announced offering for secured notes. Quiksilver, Inc. announced the pricing of their previous offering for Quiksilver and its wholly-owned subsidiary, QS Wholesale, Inc.
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Zurich Financial Services sold its shares in New Life China Insurance Co Ltd for US283 billion Zurich Financial Services AG announced that they have sold US$283 million worth of shares in New China Life Insurance Co Ltd.
Icahn offered Dell Inc. shareholder improved deal and a warrant. Billionaire investor Carl Icahn revealed that he wants Michael Dell to improve his US$24.
Three shareholders at Dell Inc said that they would vote against Michael Dell and Silver Lake’s proposed buyout offer valued at US$24.4 billion.
Samin Tan agreed to buy Bumi Plc shares for US$223 million Coal tycoon Samin Tan has agreed to a US $223 million deal that would elevate his stakes in Bumi Plc to over 47%.
Schneider Electric announced that they are in early talks to buy Invensys for US$5billion. Schneider Electric announced that they are in early talks to buy Invensys Plc.
US senators have announced a plan to reintroduce Glass-Steagall Act. U. S. Senator Elizabeth Warren, a Massachusetts Democrat, reported she and a team of lawmakers are introducing a bill geared at a revived Glass-Steagall Act.
Two of Mexico's brewers gets a warning against a possible duopoly. Mexico's Federal Competition Commission issued a warning to two of its biggest brewers to open up the market to other competitors or face heavy penalties.
SMART Modular Technologies open research and development facility in Taiwan. SMART Modular Technologies Inc. today announced that it has opened its first facility in Taiwan.
Internet provider, FreedomPop, gets additional US $5 million funding bringing its total to US $16 million.
