The Philippine Commission on Audit asked the Department of Budget and Management to issue guidelines for the release of public funds for different local projects.
Investors
Su-Kam Power set to expand
Su-Kam Power Systems had agreed to expand into other businesses. Su-Kam Power Systems, an energy solutions provider, had sought the approval of its investors namely Reliance Group and Temasek Holding on expanding its solar business unit.
JPMorgan under investigation for recent hires
JPMorgan Chase is being investigated by the SEC for possible wrongdoing. The anti-bribery unit of the US Securities and Exchange Commission is conducting an investigation as to the allegations that JPMorgan Chase & Co had hired the children of Chinese officials to boost its business.
Nine Entertainment Planning IPO
Nine Entertainment's ownership has decided to undertake an IPO. The majority owners of Nine Entertainment of Australia, namely US hedge funds Apollo Global and Oaktree Capital, have appointed several banks to oversee the initial public offering of the company.
Atlas Copco buys the Edwards Group
The Edwards Group;s purchase price was pegged at GBP1 billion for Atlas Copco. In a report from Sky News, it was revealed that the Edwards Group, which is based out of Sussex, is the subject of a GBP1 billion takeover bid.
Latest News
Bahrain based Investcorp announced the sale of Skrill to CVC Capital Partners in a deal priced at USD79 million.
The leading Hungarian tour company, Best Reisen Ltd announced bankruptcy after big losses on its Egypt and Tunisia tour packages.
It has been a week after Amazon founder Jeff Bezos announced acquisition of Washington Post, a deal said to be the convergence of old and new media.
Former press mogul Conrad Black was barred from directorships by the US Securities and Exchange Commission and ordered him to pay USD4 million to Chicago Newspaper Liquidation Corp.
The Bank of England's record low interest rates were doubted after an unexpected dissent from its policymaker and its robust jobs data.
Gap and Urban Outfitters showed top earnings in retail apparel. Top 2 apparel retail companies are set to report earnings as the back-to-school season starts next week.
General Electric pursued its renewable energy program in Estonia after abandoning a solar plant project in the United States.
A newspaper reported that German regulator BaFin probed Deutsche Bank over its anti-money laundering control.
Cheraman Financial Services announced today a proposed plan of funding different infrastructure projects in Kerala.
