J.C. Penney appoints new director to settle publicized clash with Bill Ackman. Reuters' early reports indicated the plans of J. C. Penney to name its new director last Monday.
Investors
Athens economy continues to falter at 4.6% in second quarter
Greece's economic growth rates continues to slow down despite bailouts. In its sixth uninterrupted year of recession,Greece is still far from recuperating from an economic slump .
Alibaba acquires stake in ShopRunner as it prepares for an IPO
Alibaba bought stake in online shopping firm ShopRunner for USD75 million as it prepares for its initial public offering in Hong Kong.
PLDT Group's MediaQuest becomes majority shareholder of BusinessWorld
MediaQuest Holdings Inc bought more shares in BusinessWorld, making the PLDT Group subsidiary the majority stakeholder in the Philippine's first business newspaper.
US regulator subpoenas metals warehousing companies
A US regulator subpoenaed major metal warehousing firms after an alleged restriction of material inflated prices.
Latest News
A source said Sony Corp reached a preliminary agreement with Viacom Inc. for television streaming services.
Studies by financial analysts indicated that the banking sector is recovering and may regain top spot on S & P.
Sequoia Capital raises US$1.1 billion of funds from five new ventures in Israel, China and the United States.
Chris Hagstrom was appointed head of prime brokerage for the U.S. by Switzerland's largest bank, UBS.
Itau Unibanco Holding SA will contest tax charges amounting to BRL18.7 billion (USD7.9 billion). Latin America's largest bank in terms of market value, Itau Unibanco Holding SA received tax charges amounting to BRL18.
The bank recently assigned Nikolaus Giesbert to head the newly merged fixed income and currencies sales and trading arms division.
Porsche faces court battles with investors over volkswagen AG. Porsche SE continues to face new legal battles against investors over their aborted purchase of Volkswagen AG.
Coca Cola introduces Huba, its new herbal tea drink, in its Thailand market. Coca Cola initially launched in Thailand its new herbal tea drink, Habu.
Bank of America will dissolve Merrill Lynch & Co. but will continue to keep name. Four years after it was acquired by Bank of America Corp. , Merrill Lynch & Co.
