Investors seemed to be positive with regard to news from former Brazilian billionaire Eike Batista about Oleo & Gas Participacoes SA's creditors agreeing to convert $5.8 billion worth of company debt into equity stakes.
Sectors
China's CIC to back bid for Australia's Warrnambool - report
China Investment Corporation, an investment fund owned by the Chinese government, is backing a Chinese food company that is considering bidding for Australia's Warrnambool Cheese and Butter Holdings Co, the Business Spectator reported on Friday, without citing any sources or naming the company.
Fortress backs new LightSquared bankruptcy exit plan
LightSquared is proposing a new bankruptcy exit plan with financing from Fortress Investment Group and other backers, as the U.S. wireless communications company seeks to avoid a sale to highest bidder Dish Network Corp.
Virtual currency Dogecoin gets hacked at height of niche growth
Dogecoin, which grew from a satirical meme to Bitcoin to a pseudo-legitimate currency, experienced a big hack today after virtual wallet Dogewallet announced its shutdown of services due to hackers who stole around $12,000 worth of Dogecoins from the site.
Gogolook confirms acquisition of company by LINE owner Naver
Gogolook chief executive officer Jeff Kuo confirmed to TechCrunch about the company's merger with Korean Internet company and LINE app owner Naver, which was worth TW$529 million or $17.6 million, according to a state report.
Latest News
Mizuho Financial Group Inc will be seeing its chairman, Takashi Tsukamoto, leaving its post after its lending unit received penalties the second time within a three-month period due to loans it extended to crime groups.
South Korean-based private equity firm Hahn & Co will pay $283 million to buy a 76% stake in Hanjin Shipping Co's bulk carrier business, Bloomberg reported.
Islamic banks want to diversify their investments outside of the Middle East and real estate and are seeking to work with Western businesses that comply with the Shariah law.
The Slovenian beer market may turn sour as the government plans a state fire sale of its assets in a bid to steady its finances and avoid a bailout, Reuters reported.
Venture capital firms have supported niche e-commerce firms in India like CarDekho.com and Lenskart because they are profitable but require less capital, The Financial Express reported.
UK Sinha, Chairman of Securities and Exchange Board of India or Sebi, said firms can be creative in their advertisements to attract investors to their IPOs but they must contain all required disclosures.
Japan's Softbank Corp is likely to tap the US bond market to fund the $20 billion acquisition of US wireless carrier T-Mobile, according to a report by the Nikkei business daily.
Minnesota-based developer CSM Corp bought the historical building in downtown Phoenix, Hotel Monroe in a deal valued at $7.85 million, according to a commercial real estate research firm.
The UK government is mulling on rule changes that would make it easier for small and medium-sized businesses (SMBs) to obtain funding from alternative financiers and new banks.
