Shanghai Jin Jiang International Hotels Development Co Ltd has agreed to acquire Europe's Groupe Du Louvre for up to 1.21 billion euros ($1.13-$1.43 billion) from U.S. investment firm Starwood Capital Group, as Chinese hoteliers expand their global footprint.
Sectors
Facebook's Zuckerberg brings free Internet to Colombia, mute on China
Facebook Inc Chief Executive Mark Zuckerberg launched a free Internet application in Colombia on Wednesday as part of a drive to bring developing markets online, but remained mute on when and if the company would look to move into China.
Big Pharma faces up to new price pressure from aggressive insurers
The world's biggest drugmakers face a new reality when it comes to U.S. pricing for their products as insurers use aggressive tactics to extract steep price discounts, even for the newest medications.
Boeing says no plans to match Airbus with long range 737
Boeing Co (BA.N) said on Tuesday that it sees no business case for offering an extended-range version of its largest 737 jet, the forthcoming 737 MAX 9, to compete with a long-range plane that rival Airbus (AIR.PA) launched on Tuesday.
Singapore's Ezra puts on hold U.S. IPO plan for subsea unit
Ezra Holdings Ltd (EZRA.SI), a Singapore-listed oilfield service company, said on Wednesday it has put on hold a plan to list its subsea services unit in the United States, prompted by unfavourable market conditions.
Latest News
Changing their previous stance, two influential proxy advisory firms advised Family Dollar Stores Inc shareholders to vote for the retailer's acquisition by Dollar Tree Inc, saying the deal offered more certainty of closure.
Boeing Co (BA.N) on Wednesday said it was disappointed by the U.S. Air Force's decision to award Northrop Grumman Corp (NOC.N) a contract worth up to $963.5 million to maintain the nation's stockpile of nuclear missiles, and had asked for a briefing about the decision.
Airbus edged closer toward raising production of its best-selling model on Tuesday, declaring the supply chain stable and hinting at a decision to produce more of its A320 cash cow in coming months.
Samsung Electronics recently offered to buy BlackBerry Ltd (BBRY.O) (BB.TO) for as much as $7.5 billion, seeking its valuable patents as it battles Apple (AAPL.O) in the corporate market, according to a person familiar with the matter and documents seen by Reuters.
Growing damage from Russia's financial crisis on neighboring former Soviet states could bury President Vladimir Putin's dream of creating an economic union to rival the United States and European Union.
Citigroup has received 10 bids for its consumer banking business in Egypt, three sources with knowledge of the matter said on Tuesday, with banks from the United Arab Emirates prominent among potential purchasers.
Toyota Motor Corp (7203.T) is ending a three-year freeze on building new vehicle assembly plants and is looking to open two new assembly plants in China and another in Mexico, four executives familiar with the company's plans said.
Former Xstrata Plc Chief Executive Mick Davis is considering a bid for Vale SA's (VALE5.SA) (VALE.N) nickel business, Bloomberg reported.
Oil prices fell more than 1 percent on Wednesday after touching their lowest in nearly six years the previous session, extending losses alongside a sell-off in other commodities.
