Troubled delivery service US Postal Service said it is hoping the surge in 2013's holiday online shopping and gift-sending would generate more revenue for the company through its partnership with Amazon.com and Sunday package deliveries.
Sectors
Carousell lands USD800,000 in funding for Southeast Asia expansion
Singapore-based consumer-to-consumer marketplace mobile startup Carousell snagged USD800,000 in seed funding to be used for the development of its app and expansion efforts in Southeast Asia.
Potential growth of e-commerce seen in Russia - WSJ
Although big companies like eBay Inc and Amazon.com wanted to get a significant piece of the growing e-commerce market in Russia, smaller e-commerce retailers like Borderfree and Modnique had the allowance to overcome Web and payment hurdles.
Social messaging startup Jongla racks up EUR1.4 million in funding
Finland-based mobile social messaging startup Jongla recently raised EUR1.4 million in a funding round from Oy Ingman Finance to be used for the development of its youth-oriented messaging app.
LivingSocial still down after more than 30 hours
The LivingSocial website and mobile apps went down and have not been back up since Tuesday 2:45 pm ET, but the site said this outage was not caused by a malicious attack.
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Houghton Mifflin Harcourt Co, the textbook publisher that emerged from bankruptcy last year, priced its initial public offering at $12 per share, below the range it guided towards earlier this month.
Popular photo sharing service Snapchat turned down a USD3 billion acquisition bid from social media giant Facebook, saying the company will not start considering offers until next year.
Khazanah Nasional Bhd, Malaysia's state investment firm, said its insurance arm has completed the $252 million purchase of a 90 percent stake in Turkish insurer Acibadem Saglik ve Hayat Sigorta.
New York-based International Business Machines (IBM) bought mobile security firm Fiberlink Communications for an undisclosed amount to amp up its poorly-rated mobile device management (MDM) solution.
Fairholme Capital Management announces proposal for purchase of insurance businesses from Fannie Mae and Freddie Mac
The world's largest retailer is likely to provide an update on its layaway program's results and on early indications of whether shoppers are taking to its first holiday specials. Wall Street is waiting to see whether Wal-Mart again cuts its fiscal year forecast.
The following bids, mergers, acquisitions and disposals were reported on Wednesday including BNP Paribas, Facebook, Crocs, VTB Capital and Flybe Group.
Bedlam Asset Management, a London-based fund manager founded by former Credit Lyonnais Securities Asia managing director Jonathan Compton, would be closing shop after chief executive officer Ian McCallum quit without notice last October.
A total of USD3.9 million was raised in a Series A funding round for Scoopshot by lead investors Conor Venture Partners and the Finnish Industry Investment and the startup's existing investors.
