Reorient Group Ltd. has reportedly formed a $3 billion yuan ($457 million) joint venture with partners. The Shanghai based proposed Joint Venture (JV) firm, Yunfeng Securities Co., will have a registered capital of 1 billion yuan. The JV entity will go operative subject to receipt of approval from China Securities Regulatory Commission.
Industry
Weatherford International Plc Lays-Off 6,000 Workers Due To Plunging Oil Prices
Weatherford International Plc lays-off 6,000 workers due to plunging oil prices. The company believes diminishing supply would influence the oil prices for good.
Lions Gate Entertainment To Merge With Premium Cable Network Starz After Three Years Delay
Lions Gate Entertainment Corp. continues the discussion with Starz regarding the possibilities of the two companies to merge. The talk had been started three years ago, and now it is looking for a further agreement.
German Factory Orders Dropped In December More Than Anticipated, Weak Domestic Demand And Slow Overseas Market
Last December, German factory orders dropped worse than what experts had forecasted. There was a weaker growth in the local demand, and the overseas market was not so much helping eventhough there was a slightly slow increase.
Samsung Debuts 4K Blu-Ray Player, UBD-K8500/ZA For $399 With Limited Availability
Samsung has released 4K Blu-ray player, UBD-K8500/ZA at selective stores of Santa Monica. The product has been expected to get released sometime in March. The new video player for $399 is believed to offer a superb content viewing experience.
Latest News
The increasing output in Brazil and falling prices are posing a major challenge to African coffee producers. Coffee exports revenues are a major source of income for several African nations. The coffee production in Brazil is forecast to reach 52 million of bags in 2016 from 43.2 million bags in 2015.
The east African nation Ethiopia is poised to grow at 8.1 percent in 2016 from 8.7 percent growth in 2015. This makes Ethiopia a fastest growing nation in the world. The government spending on infrastructure projects is mainly driving the economy growth.
VTech Holdings said that it has entered into an agreement to acquire electronic toymaker LeapFrog in an all cash offer. The electronic learning toy maker will fund the acquisition with the internal resources.
Just Eat said that it has agreed to purchase Rocket Internet's businesses in Italy and Spain as well as Mexican and Brazilian arms from Foodpanda. The company believe that the acquired assets will help it to broaden its vision.
Julius Baer Group said it has attained the last settlement phase with the US Department of Justice. As per the terms of the deal, the Bank agreed to pay $547.25 million to evade prosecution.
The program is an extension of the Reuse and Recycle iPhone program that originally didn't include broken iPhones in its trade-in program. The broken iPhones would be credited for $50-$250 that could be used to get a brand new iPhone. The extended program will be available in the U.S shortly within a week.
The leading steel company, ArcelorMittal, has no option but to raise money to pay off its huge debts. The company has resorted to issuing shares and selling off its minority stake in Gestamp, the Spanish auto-parts manufacturing company. The decision should fetch Lakshmi Mittal almost $4 billion - $3 billion from share issue and $1 billion from Gestamp - and reduce the debt burden to some extent.
Vivo, the trade name of Telefonica Brasil prepared a strategy in the worsening economy. The strategy is expected to increase sales and efficiency.
BEHL is going to purchase the leading German waste to energy recycler EEW for €1.44 Billion. The deal appears to be the largest ever Chinese direct investment in Germany. Following legal obligation, the transaction will be cleared under the German Foreign Trade and Payments Ordinance.
