Scarosso, the high end shoe brand, announced that it has raised new funding from its Series A capital round.

Pebble announces the raising of US$15M in funds during Series A capital round. In an announcement by Pebble, the creator of the e-paper smart watch that links to Android smartphones and iPhones, disclosed that it was able to receive US$15 million in Series A growth financing round from Charles River Ventures.

Jain Irrigation and State Bank of India to provide assistance to Indian farmers. The largest lending institution in India, the State Bank of India, is working out a partnership with Jain Irrigation Systems Ltd, the largest irrigation equipment manufacturer in Asia, to provide planned assistance to Indian farms in the reduction of water usage yet at the same time increase productivity.

Corvex and Related Fund have been trying to takeover CommonWealth REIT but has been thwarted by the provisions in the REIT bylaws.

Sun Capital offers Emerald Performance for the tidy sum of US$700 million. Sun Capital Partners, the US private equity firm, is offering to sell specialty chemicals firm Emerald Performance Materials in a deal purportedly worth US$700 million.

Blackstone, believing in the high risk high reward appetite of the market, is creating a fund for the riskiest of trades.

The New York Life Insurance Co is set to divest itself of its Taiwanese business with the sale to be done.

S&P downgrades Berkshire Hathaway from AA plus to AA. Standard and Poor's, the renowned credit rating agency, has announced that it would be cutting Berkshire Hathaway's rating from 'AA plus' to 'AA'.

China's State Grid Corp purchases 19.9% shareholdings in SP AusNet for US$802 million. In an announcement, the State Grid Corp of China is purchasing shareholdings in an Australian electricity network company.

Dell reported decline in its profits. Dell Inc has reported a 79% decline in its profits as sales for personal computers continued to contract in the face of greater demand for mobile devices.