Yahoo chief executive Marissa Mayer on Friday announced the Internet corporation's partnership with San Francisco-based online business reviews website Yelp. The cooperation reportedly will put Yahoo in a position capable of competing with search engine giant Google.
Hospitality/Food
Indian firm Gillanders to buy out Malawi-based tea and macadamia producer
Kolkata, India-based business group Gillanders Arbuthnot & Co Ltd entered an agreement to buy out Malawi-based tea and macadamia producer Group Development Ltd for an undisclosed amount, according to a stock market disclosure.
China's Fosun Group invests $30.7M in Malaysian restaurant chain Secret Recipe
Chinese conglomerate Fosun Group invested CNY210.5 million ($30.7 million) in Kuala Lumpur, Malaysia-based restaurant chain Secret Recipe, according to a report by Shanghai's China Business News.
SM Investment Corp. invests in Philippine community mall development firm
Philippine-based real estate holding company SM Investments Corp entered an agreement to acquire a 34% stake in CityMall Commercial Center Inc for an undisclosed amount to construct a chain of community malls in Visayas and Mindanao.
German software giant SAP to open startup cafes in Palo Alto
In a bid to attract more startups, Walldorf, Germany-based sofware giant SAP planned to open a cafe in Palo Alto, California, where startups companies can hang out, collaborate, and connect to over 1,000 companies worldwide.
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David Errington, an analyst at Bank of America Merrill Lynch, said companies would do well if they focused on investing in their core business instead of acquiring other companies in their quest for growth, The Australian reported.
Minnesota, US-based food processing firm Cargill purchased the Leonardo olive oil brand from New Delhi, India-based premium wellness food provider Dalmia Continental for an estimated price of INR100 crore.
Paris, France-based hospitality major Accor is aiming to exit its 40% stake in Mumbai, India-based Sofitel hotel in Bandra-Kurla Complex (BKC) and fold the Sofitel brand into itself, according to sources.
Nestle, the world's biggest food company, is looking at ways to reduce its $30 billion stake in cosmetics firm L'Oreal, Bloomberg reported on Saturday, citing sources with knowledge of the matter.
Pittsburgh, US-based firm NoWait released a consumer app that lets customers remotely add themselves to the wait lists of restaurants using their phone and cut waiting time significantly.
Direct Local Food, a farming industry-focused startup led by two women, aims to champion local food by linking farmers with restaurants and grocers, VentureBeat reported.
India-based travel booking website MakeMyTrip bought Amsterdam, Netherlands-based hotel booking portal EasyToBook in a deal valued at around $5 million to increase its revenue through online hotel bookings.
San Francisco, US-based online real-time restaurant reservation service OpenTable launched a private beta of its dining payments service for 11 restaurants in San Francisco, with new restaurants to be added soon.
San Francisco, US-based online real-time restaurant reservation platform OpenTable acquired Palo Alto, California-based personalized recommendations app maker Ness Computing in a deal valued at $17.3 million.
