VENTURE CAPITAL POST

Asian stocks were cautiously up on Wednesday as benign inflation data in China and more gloom in the euro zone economy lent credence to fears of a faltering global economic recovery.

The British government plans to sell its 40 percent stake in the fast-speed Eurostar train operator that links Britain with the European continent, finance minister George Osborne announced late on Sunday.

France and Italy will keep pressure on Germany this week to use government money to revive the euro zone's stagnating economy but in a sign of inertia, a promised list of projects to create growth will not be ready until December.

GlaxoSmithKline may have closed one chapter in a saga of corruption allegations by accepting a $489 million fine in China, but the drugmaker has its work cut out to win back skeptical investors.

Britain's CSR (CSR.L) has rebuffed an approach from Microchip Technology (MCHP.O), saying that the undisclosed price proposed by Microchip was not enough if its U.S. rival wants to bolster its role in the "Internet of Things" with the chipmaker's radio technology.

As opposed to the move that other countries are taking, the British government is planning to ditch the tax levied on Bitcoin trading, but the cryptocurrency will still be subjected to corporation and other taxes.

County Kerry, Ireland-based financial services provider Fexco will UK-based foreign exchange firm InterCash for an undisclosed sum to establish the firm's position in the market as the country's economy starts growing again.

Sports Direct, the biggest sporting goods seller in the UK, picked up a 4.6% stake in London-based multinational retail chain Debenhams for an undisclosed sum.

Hong Kong-based private equity firm Gaw Capital Partners is set to purchase minority stakes in four commercial property acquisitions in the UK and the US, in a deal with a total value of USD1 billion.

French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.

A new GBP10 billion privatization program will see Britain's 40% stake in cross-channel rail operator Eurostar sold off to help pay down UK's debts.

South Korea was reported to be a possible investor in Britain's nuclear power market after the Asian country hired Lloyd's Register to evaluate its nuclear reactors, according to a director at Lloyd's.

Britain-based advertising group WPP denied a report from The Daily Mail's that the company is planning a takeover bid for US-based marketing group Interpublic (IPG).

The Confederation of British Industry said they are campaigning for a reformed European Union for British interests.

The privatization deal for Royal Mail had received a government estimated number of more than 700,000 applications for the company's shares, said a Reuters report.