Sony Entertainment sought the advice of consultancy firm Bain & Company to help identify more than USD100 million in cost cuts. The Japanese conglomerate reportedly suffered a USD181 million operating loss in the second quarter.
Asia/Pacific
CLP Holdings say it will buy stakes in two Exxon Mobil units for USD 1.8 billion
CLP Holdings said it will be purchasing stakes in Castle Peak Power Co and Hong Kong Pumped Storage Development Co for a price tag of USD 1.8 billion.
Bitcoin gains momentum in market, reaches USD700 as US Senate discusses regulation
As the value of the Bitcoin reached a landmark USD700 valuation, The US Senate committee held a hearing with experts, lobbyists and federal regulators to discuss about the potential threats, risks and benefits of virtual currency.
India denies Reserve Bank of India's request for exemption from Competition Act
A request by the central bank of India to be given exemption from the provisions in Section 54 of the Competition Act, which seeks to regulate bank mergers within a certain period, India's Ministry of Corporate Affairs rejected such request.
Blackstone, Panchshil Realty buy 49% stake in Express Towers for INR900 crore
American private equity firm Blackstone Group and its affiliate Panchshil Realty acquired a 49% stake in Express Towers for INR 900 crore. The yield-generating asset was previously held by the Indian Express Group and ICICI Venture.
Latest News
Li Ka-shing's Horizons Ventures, MaRS Investment Accelerator fund and private angel investors provided more than USD 1 million in seed funds for Toronto-based big data startup Rubikloud Technologies Inc.
Australian property investor The GPT Group has made a A$2.99 billion takeover bid for Commonwealth Property Office Fund, gate-crashing an agreed A$2.8 billion deal with Dexus Property and a Canadian pension fund.
The following bids, mergers, acquisitions and disposals were reported on Monday including Forbes, Axel Springer, MidCap Financial LLC, Goldman Sachs and others.
CareFusion Corp's acquisition of Vital Signs from GE Healthcare was considered strategic as the former aimed to expand its anesthesiology and respiratory care business while saving up to USD15 million in annual costs.
An analyst said that the involvement of Bitcoin in the Silk Road online marketplace scandal provided enough boost for the digital currency to receive support from the market, and even US government agencies, as an accepted investment and payment technology solution.
Potential investors would be having difficulty acquiring a majority ownership stake in beverage company Yeo Hiap Seng Ltd due to the Ng family, who had a controlling interest in Yeo's via Far East Organization.
Bitcoing exchange BTC China received USD5 million in Series A investment from Lightspeed China Partners and Lightspeed Venture Partners to fund its general operations, but indicated plans to expand its business.
Companies in India closed 360 private equity deals in the January-October period of this year. The total value of private equity deals amounted to USD8.9 billion.
Galaxy Entertainment Group Ltd, the second-largest casino operator in Macau, announced its intention to invest USD5 billion in Japan and China if the gambling markets open in those countries.
