US President Barack Obama would nominate the Vice Chairwoman of the Federal Reserve to replace outgoing chairman Ben Bernanke whose term ends in January next year.
Investors
AT&T nears tower sale to Crown Castle
AT&T Inc. would reach a near agreement to sell its wireless towers to Crown Castle International Corp, said sources familiar with the matter.
Manila Electric Corp acquires 20% stake in Global Business Power Corp
Manila Electric Company (Meralco) said that its wholly owned arm would acquire a stake from GT Capital Holdings' power generation unit, according to a report from Reuters.
Tweeter trading symbol changed to avoid Twitter mix-up
Tweeter Home Entertainment Group was assigned a new trading symbol to avoid investor confusion when Twitter Inc. would start its public offering debut.
On Semi to cut jobs at Sanyo unit
On Semiconductor Corp said it would cut 870 jobs at its Sanyo Semiconductor unit as the company seeks to reduce its spending costs, said a Reuters report.
Latest News
Jos. A. Bank had approached Men's Wearhouse for a possible merger although the type of tie-up was not clearly stated, reported the Wall Street Journal.
Under its new CEO Doug Lawler, Chesapeake Energy Corp had cut down around 1200 jobs to reduce company spending and lift profit.
After accumulating nearly 6% of total shares in Talisman Energy, Carl Icahn has prepared to provide direction as to sales of assets of the Canadian energy firm.
JP Morgan Chase & Co, the biggest bank in the US, would cut lending to some businesses as risks confronted the bank's reputation, said a report from the Wall Street Journal.
KFC parent company Yum Brands Inc said that the delay in sales recovery in China would take longer than expected, said Reuters.
Mark Cuban's insider trading trial saw emails he sent to then UBS SVP Charles McKinney support earlier testimony made by the Dallas Mavericks owner.
As reported by Dow Jones, Celesio shares increase after McKesson interest in buyout becomes public. After a report that the McKesson Corp was in discussions with Celesio AG majority shareholder Franz Haniel & Cie GmbH as to a possible buyout, share values of the German drug wholesaler rose to their highest in seventeen years.
Tele2 Russia and Rostelecom set to merge after an agreement was formalized to create the fourth largest mobile operator in Russia.
Lululemon Athletica, a yogawear manufacturer, had been looking into expansion as it sees the overseas market to have a promising growth, said a Reuters report.
