Hours after announcing the departure of chief executive Dan Akerson, the Holden unit of General Motors Co announced its decision to halt its auto making operations in Australia by 2017.
Sectors
Indian steel magnate Lakshmi Mittal in talks to buy stake in Delhi Daredevils
Lakshmi Mittal, chief executive officer of ArcelorMittal, is negotiating with infrastructure company GMR Group to acquire a stake in Delhi Daredevils. The cricket team plays in the Indian Premier League.
Indian regulator frustrates asset managers as control on mutual funds tighten- report
The Securities and Exchange Board of India or SEBI has tightened its control on mutual funds, causing frustration in asset managers, according to a Reuters report.
Cinda raises $2.4 billion in Hong Kong IPO, prepares to buy distressed debts
China Cinda Asset Management Co, one of the country's state-owned bad bet managers, has raised $2.4 billion in its Hong Kong listing. Proceeds from the deal will be used to enhance its distressed asset management business.
Australia allows Chinese company to take over Yancoal
Australia's Federal Treasurer Joe Hockey has granted approval of the Chinese company Yanzhou Coal's takeover of Australian mining firm Yancoal Australia, just two weeks after he rejected a foreign buyout bid for GrainCorp.
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Australia's largest oil and gas producer BHP Billiton said it is interested in expanding to the Caribbean nation of Trinidad and Tobago despite some of its asset sales, according to a Bloomberg report.
CVS Caremark Corp. and Cardinal Health Inc. are looking to set up a joint venture that will be the biggest generic medicines supplier in the US. The said venture will be equally owned by the two drug companies.
JPMorgan Chase has filed an application for a payment system that is similar in many ways to the controversial Bitcoin, according to a Financial Times report.
Minnesota-based mobile device management software maker JAMF Software, which focuses exclusively on Apple gadgets, has raised USD30 million to drive product development and expand industry partnerships.
HSBC Holdings PLC has put up for sale its 8% stake in Bank of Shanghai Co. HSBC sold its holding in the Chinese bank to Spain's Santandar SA for an undisclosed sum.
Australia gave its approval to China state-owned coal firm Yanzhou Coal Mining Co to move towards a 100% ownership in Yancoal Australia, a Bloomberg report said.
US-based big data company Palantir Technologies Inc has raked in USD107.5 million in a funding round filed last week that valued the firm at USD9 billion.
General Motors Co. has named Mary Barra as new chief executive officer a day after the US government exited its final shares of GM. Barra will replace GM CEO Dan Akerson who is retiring on January 15.
Fairfax Media Ltd, the leading diversified media firm in Australia, has purchased property data and mapping company Property Data Solutions Pty Ltd for approximately USD30 million.
