Wal-Mart Japan to focus on remodeling stores, no plans to exit market
TOKYO (Reuters) – Wal-Mart Stores expects its Japan business to focus on remodeling existing stores rather than opening new ones this year, citing fierce competition and consumer reluctance to spend freely amid uncertain economic times.
Apple fight could escalate with demand for ‘source code’
SAN FRANCISCO (Reuters) – The latest filing in the legal war between the planet’s most powerful government and its most valuable company gave one indication of how the high-stakes confrontation could escalate even further.
Distressed asset buyers see silver lining as miners languish
MELBOURNE/SYDNEY (Reuters) – After years on the sidelines, funds specializing in troubled assets are set to take center stage in the mining industry, driving deals in a sector where the top players alone plan to raise more than $30 billion through sale…
Toshiba in talks to sell its white goods business to Midea Group: Nikkei
(Reuters) – Japanese industrial conglomerate Toshiba Corp said it is in late-stage talks to sell its white goods business to Chinese household appliance giant Midea Group Co Ltd , Nikkei reported on Monday.
Avon to cut jobs, shift headquarters to UK
(Reuters) – Cosmetics maker Avon Products Inc said on Monday it would cut about 2,500 jobs worldwide and shift its corporate headquarters to the UK as part of its three-year turnaround plan.
Verizon signs direct connection agreement with Cuba
HAVANA (Reuters) – A unit of telecoms multinational Verizon Communications signed a direct interconnection agreement with the Cuban state monopoly Etecsa, expanding on existing roaming services in the Caribbean country, Etecsa said in a statement on Mo…
Viacom shareholders re-elect directors, reject voting rights proposal
MIAMI (Reuters) – A substantial majority of Viacom Inc’s independent shareholders on Monday voted to re-elect the media company’s directors and rejected a move to extend voting rights to all shareholders, going against recommendations by the leading pr…
China’s Anbang challenges Marriott with $13 billion Starwood offer
(Reuters) – China’s Anbang Insurance Group Co has challenged Marriott International Inc’s merger with U.S. hotel operator Starwood with a $12.8 billion cash offer, burnishing its credentials as one of China’s top corporate acquirers.
Wall St. ends flat as Fed meeting looms
NEW YORK (Reuters) – Wall Street closed little changed in light trading on Monday as consumer discretionary gains countered losses in energy shares and investors laid low ahead of a U.S. Federal Reserve meeting.
Bill Gross is cleared to pursue $200 million Pimco lawsuit
(Reuters) – Bond manager Bill Gross will be able to pursue his lawsuit to recoup at least $200 million he claims that Pacific Investment Management Co owes him in the wake of his 2014 ouster from the firm he co-founded.
