Pipeline Upgrades Bid for Hastings Diversified Utilities Fund
A takeover tussle for Hastings Diversified Utilities Fund Ltd. (HDF.AU) intensified Wednesday after a consortium of Canadian and Australian pension funds upped its offer by 4.5% to value the company at 1.29 billion Australian dollars (US$1.35 billion).
Universal Robina to Buy Out International Horizons Stake in URC International
Philippine snack food and beverage firm Universal Robina Corp. (URC.PH) said Wednesday it has secured board approval to buy out International Horizons Investments Ltd.'s 23% stake in URC International Co. for 7.2 billion Philippine pesos ($171.8 million).
Asian Shares Are Little Moved
Asian markets were little moved early on Wednesday, as Japanese exporters were helped by a weaker yen, and the Australian benchmark edged forward slightly on strong earnings.
Brazil's CSN Reports Second-Quarter Net Loss of BRL1.05 Billion
Brazilian integrated steel maker Companhia Siderurgica Nacional (SID, CSNA3.BR), or CSN, reported a net loss of 1.05 billion Brazilian reais ($520 million) as the company accounted for its investment in rival Usiminas (USIM5.BR).
Hong Kong Stocks Drop; CLP Falls, StanChart Rises
Hong Kong shares fell early Wednesday on concerns about Greece and as investors scaled back hopes for monetary stimulus from China, with mainland insurers and resource stocks among those declining while Standard Chartered PLC stock jumped.
Brazil's OGX Posts 2Q Net Loss of BRL399 Million
Brazilian independent oil company OGX Petroleo e Gas Participacoes S/A (OGXP3.BR, OGXPY) reported late Tuesday a 399 million Brazilian reais ($197 million) net loss in the second quarter, more than triple the fledgling crude producer's loss in the same period a year ago.
Correction to Commonwealth Bank Profit Story
"UPDATE: Commonwealth Bank Profit Up 11%, Margins Under Pressure," published at 0010 GMT misstated the company's dividend in the final paragraph.
Australia High Court Rejects Tobacco Challenge
Australia's highest court Wednesday rejected a challenge from big tobacco companies to tough new plain-packaging laws due to come into effect later this year, in a legal battle closely watched around the world.
Citic Securities Seeks to Reassure Investors
Citic Securities (600030.SH) said Wednesday the company is currently operating in good condition, with excellent asset quality and a stable management team--in its latest effort to reassure investors following the recent slump in its share price caused by erroneous information circulated on the
UK Could Fund Growth With BoE Profit, Citi Economist Says - Report
The U.K. government could fund a GBP20 billion ($31.38 billion) tax giveaway to boost growth next year by releasing the profits made by the Bank of England's money-printing program, a leading economist has suggested to The Daily Telegraph.