Asia Pacific Stock Exchange (APX), a new bourse that aims to lure Chinese firms, has received final approval from the Australian Securities and Investments Commission to start operating.
Sectors
Gold loses its shine as funds predict 31% drop this year
Dara compiled by Bloomberg indicated that investors are exiting from their gold-backed exchange-traded products this year. $69.5 billion in value was removed in the ETPs and analysts expect an additional 311 tons will be removed from the ETPs next year.
Renault, Dongfeng finally ink $1.3 billion joint venture after nine years
French automaker Renault and state-owned Dongfeng Motor Group have finally closed a $1.3 billion partnership agreement after almost a decade. The deal allows Renault to sell locally assembled models in China.
Sompo buys UK insurer Canopius for $970M
Japanese insurance firm Sompo Japan Insurance Inc will acquire private British company Canopius in a deal valued at $970 million to expand its overseas operations, according to a report.
Twin River buys Hard Rock in Biloxi for $250M
Rhode Island-based Twin River Worldwide Holdings Inc reportedly purchased the Hard Rock Hotel and Casino in Biloxi, Mississippi for $250 million in a bid to expand its gaming operations.
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A report by Grant Thornton, an American accounting and advisory firm, said that Indian corporations closed as many as 393 private equity deals totaling $9.67 billion in the past 11 months of the year.
UK-based virtual fitting room firm Metail has received £2.6 million in additional funding as it prepares to move into a new headquarters in East London.
This year is set to be a banner year for ecommerce as online sales for Thanksgiving weekend increased 22% from last year. Meanwhile, retail sales fall.
The initial takeover proposal of AU$752 million from Senex Energy was rejected by oil and gas exploration and production firm AWE Ltd.
Commonwealth Bank of Australia Ltd plans to sell down its 8.6% stake in Kiwi Income Property Trust, which is worth NZ$95.7 million based on its last trading price.
Royal Dutch Shell's exit of its stake in Australia-based Woodside Petroleum Ltd may enable Asian buyers, particularly China, to get a stake of or even acquire the whole company, Bloomberg reported.
Insurance Australia Group Ltd (IAG) bought the Australian and New Zealand underwriting business of Western Australia's farmers' cooperative Wesfarmers Ltd for $1.845 billion.
The impending sale of Woori Investment & Securities Co may spur consolidation in South Korea's local securities industry. Final bids for the brokerage unit are due today.
BlackRock Inc will have to say on Monday what stake it holds in Italy's biggest telecom operator Telecom Italia, after the Italian market watchdog threatened to fine it for not disclosing an increase.
