New York-based cosmetics company Revlon, which has posted profit declines in 2011 and 2012, will close its operations in China, cutting at least 1,100 jobs. News of the shutdown came a few months after Revlon bought Spanish beauty care company Colomer Group.
China
Baotou Rare Earth acquires nine regional miners in China
China-based rare earth metals producer Inner Mongolia Baotou Steel Rare Earth Group has added nine regional mining firms as part of a government bid to consolidate the industry.
Silicon Valley Bank sets eyes on China funds
Through a joint venture formed with Shanghai Pudong Development Bank Co formed in 2012, US-based Silicon Valley Bank looks to meet the demand of investors for China funds.
Tech founders in China influence young companies- report
Chinese founders of technology firms that have become billion dollar firms have gone on to start other companies or act as benefactors of other startups or give guidance to young firms, the Financial Times reported.
2013 is a record year for hedge funds - report
Data released by research firm and data provider Eurekahedge revealed that hedge funds worldwide posted record gains not seen since 2007, said a Business Insider report.
Latest News
China Postal Express and Logistics Co Ltd (EMS), the biggest integrated logistics service provider in China announced on Friday the withdrawal of its application for an initial public offering (IPO).
The world economy should snap a three-year stretch of slowing growth in 2014, although the upturn over the next 12 months looks likely to be incremental rather than a leap forward.
The DealBook said in its report that banks in China are steadily making strategic acquisitions offshore and opening its businesses outside of the mainland, thanks to recent economic reforms.
The general consensus of research firms and mergers and acquisitions (M&A) experts believed that the brisk activity of dealmaking will keep its momentum till the next year.
China's Oceanwide Real Estate Group will acquire a sprawling parking lot in downtown Los Angeles for $200 million to develop a five-star hotel, apartments and retail spaces.
Asian Development Bank President Takehiko Nakao expressed his confidence about Asia's economy should US Federal Reserve proceed with its plans to reduce its quantitative easing program.
Cork, Ireland-based consumer electronics distributor PCH International announced it has acquired Australian distribution company Conexus for an undisclosed amount to give its clients better access to the Australian and Asian markets.
Huawei Technologies Co and ZTE Corp have asked regulators to make sure that Microsoft's takeover of Nokia's handset business will not result to increased patent fees in wireless technology, according to sources who talked to Bloomberg.
China's Bright Food Group Ltd unit Manassen Foods could be the frontrunner in an acquisition contest for United Dairy Power, the biggest privately-owned milk supplier in Australia, according to a news report by the Business Spectator.
