Industry executives and academics said mandatory budget cuts or sequestration have led to job losses and could eventually undermine the competitiveness of the US in the global economy, a Reuters report said.
Investors
College kid raises over USD20,000 via a Bitcoin sign on a televised game by ESPN
A video footage of a college game fan holding a sign that read "Hi Mom send Bitcoin" was caught by ESPN's College Gameday yesterday, with The Verge confirming on its article that the fan raised around USD22,000.
Sime Darby purchases 70% stake in Australian car dealer
Malaysian conglomerate Sime Darby Bhd announced that it has agreed to purchase a 70% stake in Australian car dealer Brisbane BMW Unit Trust and LMM Holdings Pty Ltd for AUD22.7 million (USD20.75 million).
Blackstone Group succeeds as one of the largest warehouse landlords in the US- report
According to a Bloomberg report, Blackstone Group has made its mark as one of the largest warehouse landlords in the US with its industrial real estate firm formed three years ago, which is already two times its size.
Dairy Australia's new chair welcomes takeover bids
Dairy farmer Geoff Akers, the new chair of Dairy Australia, says the surge in takeover bids for milk processing companies is a good change for the industry.
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Ohio-based plastic compound and resin supplier A. Schulman Inc announced the completion of its acquisition of US engineered plastics distribution business Network Polymers Inc in a deal valued at USD49.5 million.
The Federal Trade Commission in a statement said the US government approved Microsoft Corp.'s acquisition of Nokia's mobile phone business on November 29. The European Union is set to decide on the matter on December 4.
Hamburg-based mobile developing firm Fishlabs has been bought by publisher Koch Media, and its co-founders Michael Schade and Christian Lohr are set to leave the firm.
India's Foreign Investment Promotion Board has given the green light to Hennes & Mauritz's (H&M) INR7.2 billion (USD115 million) investment. The Swedish retail-clothing company looks to open 50 stores in India.
Former Japanese Ministry of Finance official Eisuke Sakakibara said the yen may weaken further as the government pension fund will follow the proposal to invest more of its holdings overseas.
New York-based asset management firm The Rohatyn Group announced that it has completed the acquisition of private equity investment firm Citi Venture Capital International (CVCI).
Children's Place, the largest children's apparel retailer in the US, is in talks with Arvind Brands about a possible India entry next year. Children's Place is looking to expand its market outside North America.
According to a Bloomberg report, Fifth & Pacific's designer handbag maker Kate Spade may become the next hot acquisition for buyout firms and retailers after the company sells Juicy Couture and Lucky Brand.
Alan Joyce, chief executive of Qantas Airways Ltd, has ruled out Australia's national carrier raising fresh capital to compete with arch-rival Virgin, saying the airline still has a lot of flexibility.
