Source: Reuters Olympus Corp’s main lender Sumitomo Mitsui Banking Corp (SMBC) denied it was trying to take control of the firm’s board by stealth, but said it might well agree to send a former banker to be chairman of the disgraced camera and medical device maker. Foreign investors in the Japanese firm, which is engulfed ...
Source: Reuters Mazda Motor Corp is looking to raise up to US$2 billion in a bigger-than-expected public share offering, a regulatory filing showed on Wednesday, which would cause a massive 69 per cent dilution of its existing shares. The share offering eclipsed expectations of JPY100 billion that had been flagged by financial sources. If the ...
Source: Reuters Western investors in Japan’s disgraced Olympus have accused its banks of trying to take control of the boardroom by stealth, amid growing signs that the firm’s major creditors are considering installing their own appointees in the top jobs. Foreign investors in the maker of cameras and medical equipment, engulfed by a US$1.7-billion ...
Source: AFP China Steel Corp, Taiwan’s largest steel producer, said Tuesday its board of directors had approved a plan to invest about A$102.0 million in an Australian coal mine. It will pay A$50 million for a 10 per cent stake in the MDL 162 coal mine, which is located in Queensland and owned by Australia’s ...
Source: Reuters India’s debt-crippled Kingfisher Airlines Ltd edged closer to the brink on Tuesday after nearly a week of mass cancellations of flights and the resignation of dozens of the low-cost carrier’s pilots. Vijay Mallya, the flamboyant liquor baron who owns a majority stake in Kingfisher, said he was determined to keep the airline ...
Source: Bloomberg Hong Kong’s stock market Monday started selling the first futures tracking volatility in Asia, the fastest-growing region for derivatives. Futures on the HSI Volatility Index, which tracks expected equity-market volatility over the next 30 days, are the first of their kind based on an Asian market, according to Calvin Tai, head of ...
Source: AFP Miner Rio Tinto will use driverless trains to deliver its iron ore to ports in Western Australia in what it said will be the world’s first automated, long-distance, heavy-haul rail network. Rio said a US$518-million investment would see the launch of the first driverless train in the vast and mineral-rich Pilbara region ...
Source: AFP Thailand’s economy suffered a double-digit contraction in the fourth quarter of 2011, the sharpest on record, after the kingdom’s worst floods in half a century pummelled industry. Gross domestic product (GDP) shrank 10.7 per cent in the October-December period from the previous quarter, according to the National Economic and Social Development Board. ...
Source: Reuters The government stuck to its assessment that Japan’s economy is slowly picking up on Thursday and raised its view on consumer spending for the first time in six months, after a resumption of subsidies for fuel-efficient cars boosted sales. It said consumer spending was holding firm, with incomes flat and a recovery in ...
Source: AFP Japan Airlines on Wednesday said it had ordered 10 new Boeing Dreamliner 787-9 aircraft as part of a five-year business plan. The announcement is in addition to an existing order for 35 Boeing planes and is part of a capital expenditure programme worth JPY489 billion (US$6.2 billion). It also said it had an ...
