Iconic Petronas Towers to be a REIT. A restructuring deal struck by KLCC Property Holdings Bhd would transform Malaysia's Petronas Towers into the country's largest real estate investment trust.
Sectors
Groupon Hard Pressed to Turn Company Around
Groupon searches for new CEO and expands to ecommerce. After last week's unceremonious termination of Groupon founder Andrew Mason as CEO, Chairman Eric Lefkofsky is now under pressure to turn the fortunes around of the beleaguered company.
Best Buy Moves from Sale to Turnaround
Best Buy closes chapter on Schulze takeover bid. With the clock passing on the deadline for the Richard Schulze offer to be filed, Best Buy is now going with the turnaround plan proposed by current CEO Hubert Joly.
Transocean Hires Ex-Seadrill CFO
Esa Ikaheimonen has been appointed as the new chief financial officer of Transocean Ltd., the largest offshore rig contractor in the world.
Peugeot and Russia's ZIL in Negotiation for Sharing Car Production
A report from newspaper Vedomosti disclosed that Peugeot and ZIL are planning to produce light commercial vehicles in the Russian market.
Latest News
Piraeus is now the shipping hub for HP through Cosco Shipping. A deal was inked between Hewlett-Packard and Cosco to make Piraeus, Greece a key hub for supply and distribution.
Blackstone Group says its co-founder and chief executive officer Stephen Schwarzman obtained 2013.3 million in pay and cash dividends in 2013.
Foxconn to dissolve JV with Metro AG. Foxconn Technology Group, after its failed joint venture with Metro AG, a German retailer has said it will turn to China for expansion of its retail business.
Jaguar and Land Rover exploring deal with Tata Motors to manufacture vehicles in India. Jaguar Land Rover, one of Britain's most exclusive car brands, is said to be doing its due diligence as to the possibility of manufacturing its luxury cars in India.
Western Mining Board approves purchase of shares of PT Genesis Berkat Utama. Western Mining Network Ltd's Board has announced that the company has exercised its option to purchase 51% of total issued shares of PT Genesis Berkat Utama.
Groupon CEO Andrew Mason termination causes rebound in stock prices for the company. In last Friday's trading, Groupon shares climbed 12. 6% or US$0.
Macy's is filing charge against J.C. Penney and Martha Steward over their plans to launch Martha boutiques at Penney Stores.
Warburg has been looking forward for the sale of eye care company Bausch & Lomb as it selected JPMorgan Chase, Citigroup, and Bank of America Merrill Lynch to the IPO.
A, the venture capital unit of Russia's Alfa Group, has expressed interest in forming a group to restructure troubled Central European Distribution Corp.
