Moorfields Corporate Recovery, the administrator for Blockbuster UK, said the video rental company is doomed to close after efforts to find a buyer had failed, a Bloomberg report said.
Sectors
Twitter partners with Deutsche Telekom to boost usage of social network
Deutsche Telekom's statement revealed that it has a strategic partnership with Twitter Inc to boost the former's opportunities in innovative marketing, advertising and customer service.
Israeli startup Carambola Media receives USD4 million in Series A funding
Months after receiving a USD1 million in seed investment, Israeli startup Carambola Media raised USD4 million in a Pitango Venture Capital-led Series A funding round.
VTB of Russia gets USD1.2 billion from its 50% stake divestment in Tele2
According to third quarter results released by Russian bank VTB Group, the bank already sold a 50% stake in Tele2 that it acquired earlier in April this year for RUB40.4 billion or USD1.2 billion.
Abe's cabinet approves USD182 billion economic stimulus plan for Japan
The JPY18.6 trillion or USD182 billion economic plan for Japan was approved by the state's cabinet under Prime Minister Shinzo Abe. The core of the package is the JPY5.5 trillion in spending measures Abe ordered back in October this year.
Latest News
China's central bank the People's Bank of China (PBOC) stressed the need for its domestic banks to avoid transactions using Bitcoin and other virtual currencies and vowed that it will launch countermeasures against illegal activities using the alternative online payments.
LeapFrog Investments exited from Express Life, a Ghanaian insurer, by selling a majority stake it held in the firm to Prudential Plc for an undisclosed amount.
French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.
Private equity firm KKR agrees to a restructuring deal for Germany-based car repair chain Auto-Teil Unger or ATU through a debt-for-equity swap with the latter's main creditors.
A source told Bloomberg that property investment and development company Heron International Ltd will be selling a penthouse in its residential tower in London for GBP 18 million.
Dubai state fund Investment Corp of Dubai (ICD) announced on Thursday that it has purchased the Atlantis hotel from a Dubai World unit for an undisclosed amount.
The San Francisco Bay Conservation and Development Commission said it will be looking into whether Google Inc had the complied with the necessary paperwork to build its barge project on Treasure Island.
German pharmaceutical company Merck KGaA will acquire AZ Electronic Materials for GBP1.6 billion. Merck will pay AZ's existing stockholders GBP403.5 in cash for each share.
Glencore Xtrata PLC, led by its chief executive officer Ivan Glasenberg, will be committing more capital in thermal coal than rivals BHP Billiton Ltd., Rio Tinto Group and Anglo American PLC.
