Portugal Telecom announced in a statement that it would be merging with Brazilian telecom company Oi.
Sectors
China may be bad for foreign retail chains - report
Analysts advised foreign grocery chains to be cautious about expanding their businesses in China. British supermarket chain Tesco Plc would the the latest foreign retail chain that had set its sight on China.
HSBC set to earn USD19.5 million in Canaletto painting sale
HSBC Holdings Plc would stand to get USD19.5 million from the sale of its two paintings by Italian painter Canaletto.
Seguchi to solely head BoFA Merrill Lynch Asia-pacific investment bank business - memo
An internal memo news agency Reuters had obtained revealed that Bank of America Merrill Lynch had reassigned its co-heads of its Asia Pacific investment banking business.
Siemens secures credit facility worth USD3 billion
Siemens announced on Wednesday it had obtained a new USD3 billion credit facility to replace a previous one that had expired last August of this year.
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Software company SAP AG said it would be pouring over USD650 million to its new SAP Ventures Fund II.
The Coffee Bean & Tea Leaf chief executive and president Mel Elias said his company would be planning an exit strategy in order to generate funds for its growth expansion in southern California and north Asia.
German newspaper Stuttgarter Zeitung said on Wednesday that utility company EnBW would be buying Italian energy company Eni's stake in the German natural gas transmission networks they co-owned.
Sources from Apple Inc's supply chain told Reuters that the tech giant would not be able to do a worldwide release of its new iPad Mini equipped with high-resolution retina display.
Russian diamond company Alrosa announced on Wednesday that it has planned to sell 14% of its stake on the Moscow bourse.
Russian payment transfer company QIWI announced floating an additional 8.2 million shares following 12.5 American depository shares it had floated earlier this year.
Redpoint Ventures announced on Tuesday that it had hired former Twitter Inc executive Ryan Sarver as a partner in the venture capital firm, according to a company press release.
Cargill Inc. and Archer Daniels Midland Co. were in final stages of discussion to close an acquisition deal that could be worth as much as USD2 billion, according to sources.
Wix.com filed for an initial public offering valued up to USD100 million, said a Reuters report. On Tuesday, Wix. com Ltd. had filed with the US regulators to raise USD100 million in an initial public offering of common stock.
