Asia: Business
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*Raised $1.2 bln from investors, but cash has dwindled to $30 mln. DETROIT, April 5- Fisker Automotive, the struggling, government-backed hybrid sports car maker, said on Friday that it terminated most of its rank-and-file employees, in what sources said was a last-ditch effort to conserve cash and stave off a potential bankruptcy filing.
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April 5- Wall Street's psycho-analysis of Hewlett-Packard's latest board room shuffle has begun. The resignation of Hewlett-Packard Co Chairman Ray Lane and appointment of activist investor Ralph Whitworth as his interim replacement has raised hopes for a more "shareholder friendly" board at the flailing PC maker.
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April 5- The resignation of Hewlett-Packard Co Chairman Ray Lane and appointment of activist investor Ralph Whitworth as his interim replacement is a positive move by the No.1 PC maker that augers for a more "shareholder friendly" board, analysts said.
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ARLINGTON, Va.-- Language software company Rosetta Stone Inc. said Thursday that it will close its last 56 U.S. kiosk locations as it shifts to a fully online business model. It will cut around 245 jobs as part of the move. On Tuesday it bought online language-learning company Livemocha for $8.5 million.
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North Korea barred entry to a joint industrial complex it shares with the South for a second day, Seoul's Unification Ministry said, and demanded extended notice of when hundreds of South Korean workers planned to leave.
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NEW YORK-- Shares of Abercrombie& Fitch Co. rose Wednesday on optimism about its international expansion plans and focus on boosting profitability. THE SPARK: The teen clothing retailer said in its annual report filed late Tuesday that it plans to open Abercrombie& Fitch flagship locations in Seoul and Shanghai and about 20 international Hollister stores.
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TORONTO, April 3- Toronto-Dominion Bank Chief Executive Officer Ed Clark plans to retire in late 2014, and Bharat Masrani, group head of U.S. personal and commercial banking, will succeed him, the bank said on Wednesday.
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ABU DHABI, April 3- National Bank of Abu Dhabi named the banker who led Australia and New Zealand Banking Group's push into Asia as its chief executive on Wednesday, as it expands abroad from its saturated local market.
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PERTH, April 2- Exxon Mobil and BHP Billiton are planning to build the world's largest floating liquefied natural gas processing and export plant off the northwestern shore of Australia, despite growing concerns about the cost competitiveness of the country's LNG projects.
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CHICAGO, April 1- U.S. agribusiness giant Cargill Inc on Monday said it named Marcel Smits, the former chief executive of packaged food maker Sara Lee Corp, as its chief financial officer effective April 15.
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Under conditions to be announced Saturday, depositors in Bank of Cyprus will get shares in the bank worth 37.5 percent of their deposits over 100,000 euros, while the rest may never be paid back.
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*Accuses Europe of trying to experiment with Cyprus. NICOSIA, March 29- Big depositors in Cyprus's largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday.
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French drugmaker Sanofi SA said Friday that it's building a new medicine factory in Vietnam to supply drugs to that country and others in the region. Paris- based Sanofi said it plans to spend about $75 million to build the factory in Ho Chi Minh City.
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The president of Cyprus said on Friday the risk of bankruptcy had been contained and the country had no intention of leaving the euro.
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*Accuses Europe of trying to experiment with Cyprus. NICOSIA, March 29- The president of Cyprus said on Friday the risk of bankruptcy had been contained and the country had no intention of leaving the euro, in a speech laden with criticism of Europe's currency union for "experimenting" with the island's fate.
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*Ray Lane, Leonardo DiCaprio among Fisker's investors. NEW YORK/ DETROIT, March 28- Fisker Automotive, the U.S.-backed maker of luxury plug-in hybrid sports cars, has hired law firm Kirkland& Ellis to advise it on a possible bankruptcy filing, a source said on Thursday, while executives continue their search for a strategic investor.
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NEW YORK/ DETROIT, March 28- Fisker Automotive, the green-car company that has not built a car since July, has hired law firm Kirkland& Ellis to advise it on a possible bankruptcy filing, a person close to the matter said on Thursday.
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DETROIT/ NEW YORK, March 28- Fisker Automotive, the green-car company that has not built a car since July, hired restructuring lawyers from Kirkland& Ellis to prepare for a possible bankruptcy filing, The Wall Street Journal reported on Thursday, citing people familiar with the matter. On April 22, Fisker must make a payment on a U.S. Department of Energy loan.
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NEW YORK, March 27- Citigroup Inc on Wednesday won the dismissal of a lawsuit by Woori Bank over losses from mortgage-related investments, the third such defeat in a U.S. court for a South Korean bank that had been put under state control following financial crises.
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ABUJA, March 27- Nigeria has offered to sell a major power station to the Chinese engineering firm that has upgraded the plant, the privatisation agency said, as it aims to end power shortages that are the biggest brake on economic growth.