Despite the discount of costs to run hedge funds in the Asian-Pacific region, Citigroup Inc's recent survey revealed that not all hedge funds in the region are successes in expanding its assets and achieving profitability.

China sovereign investor Central Huijin Investment Ltd received approval the Shanghai Office of the People's Bank of China to trade on the interbank bond market, a Bloomberg report said.

UK-based lender Lloyds Banking Group PLC is offloading its remaining 21% stake in the investment firm St. James's Place for GBP95 million after progressively selling its stake down.

The rising commercial property prices in London has prompted institutional investors to team up with commercial property developers in the UK to capitalize on the recovery of the market in UK.

San Francisco-based real estate firm BRE Properties Inc is discussing a USD4.5-billion buyout offer by Essex Property Trust Inc, a deal that could expand the latter's portfolio in California.

Eight US technology firms in the US wrote an open letter to President Barack Obama, calling on government to impose stricter controls on online surveillance.

General Motors Co has not yet arrived at a decision on whether to exit manufacturing in Australia but said government help would be needed for its long-term survival.

Yahoo Chief Executive Officer (CEO) Marissa Mayer is eyeing image sharing startup Imgur as the company's next big acquisition, according to an anonymous source cited by Business Insider.

Ireland-based construction and engineering company Kentz has taken over US-based Valerus Field Solutions for USD435 million (EUR316 million) in a deal that will also expose Kentz to Latin American markets.

Court-appointed monitor Ernst & Young has extended the deadline for the acceptance of bids for Canadian wireless startup Mobilicity to December 16, a Reuters report said.