Phuong Tay merges with PVFC as ordered by the Vietnamese Central Bank. In compliance with the Vietnamese central bank's goals to restructure lending institutions saddled with debt, Phuong Tay Bank is planning to merge with Petrovietnam Finance Corp.
Venture Capital
Member of Ackman's Fund Seek More Information
Ackman's investors seeking clarifications on investments in JC Penney and Herbalife. Two of the institutional investors comprising William Ackman's US$12 billion hedge fund are planning to ask more information on the investment made in beleaguered retailer JC Penney.
Morgan Stanley Nearing Acquisition
Morgan Stanley passes Fed test for JV purchase. Morgan Stanley is now nearing the completion of its acquisition of the rest of its wealth management joint venture after completing its testing with the US Federal Reserve.
IBM and EMC to Bid on SoftLayer
IBM and EMC are partnering to discuss takeover of SoftLayer. EMC Corp and IBM are quietly discussing with web hosting company SoftLayer Technologies Inc to purchase the privately held database web hosting company.
Frontrunner for Hostess Brand Known
Dean Metropoulus front runner to purchase the iconic Hostess brand. Dean Metropoulus is a giant in the food industry business but not a household name yet, though this may change upon his purchase of iconic snack cake brand Hostess.
Latest News
ACI acquires Online Resources to expand its service capacities. The international provider of payment systems ACI Worldwide issued an announcement that it has completed the acquisition of Online Resources Corp.
Krono lists Distressed Asset Bonds in Danish bourse. Krono Partners PLC has announced that it would be introducing its distressed asset bonds for listing on the GXG Market.
Pantaloon has agreed to shed off its 22.5% in a life insurance venture it has with Italian Assicurazioni Generali.
Tiger Airways seeking partner for intra city flights and cargo operations in India. Tiger Airways, the low cost Singapore based air carrier is exploring possibilities to tie up with an India based airline to offer intra-city air travel in India.
Damac Properties enters into a branding partnership with Paramount Hotel & Resorts. (Correction: Paramount Hotels & Resorts in the first paragraph) Damac Properties, the renowned Dubai property developer has entered into a partnership with Paramount Hotels & Resorts to develop and operate a US$1 billion or 3.
Softbank expanding into mobile virtual network operations for internet companies. Softbank's next move is expected to make waves in the US wireless market when it enters into a partnership with Internet giants Google and Amazon.
Apple Inc executives met with Beats LLC executives for Project Daisy. Apple Inc, after its shareholder meeting, is now keen on doing business and one of its projects is its current discussions with Beats Electronics LLC.
Air Asia gets to second step in operating airline in India. Air Asia Bhd has been give approval by Indian regulators to enter into a joint venture for an Indian airline.
Verizon and Vodafone discussing future of Verizon Wireless. Verizon Communications Inc, which is now deep in a battle for control with Vodafone Group Plc, has proposed to dissolve their relationship through the wireless joint venture.
