Wireless money transfers are gaining traction in India as residents are embrace mobile payments systems similar to those already popular in Kenya.» Read More
MUMBAI, Nov 11- India has revived plans to sell stakes in two state-owned companies to raise about $2.3 billion to boost public finances, aiming to push through a sale by mid-December to take advantage of a share market rally.
At 0950 GMT, Richemont shares were down 1.8 percent at 91.3 Swiss francs, underperforming a 0.6 percent decline in Europe's blue-chip stocks index. "Surprising, and likely to be taken negatively," said Citi analyst Thomas Chauvet of Richemont's decision to retain its weaker brands, which are mostly in fashion and accessories.
Nov 6- China's Suntech Power Holdings Co Ltd, once the world's largest maker of solar panels, filed for provisional liquidation, signaling that it may go out of business after years of steep declines in panel prices. Suntech's shares fell as much as 23 percent to $1.15 on the New York Stock Exchange on Wednesday.
*Files for bankruptcy after Hertz cancels lease agreements. *Hertz shares fall as much as 17 pct. Nov 5- Advantage Rent A Car, which Hertz Global Holdings Inc hived off as part of a deal to buy Dollar Thrifty, will file for bankruptcy after Hertz terminated lease agreements that provided Advantage with its cars.
WILMINGTON, Del., Nov 4- Cooper Tire& Rubber Co of the United States and Apollo Tyres Ltd of India should be enjoying a honeymoon. The result is a lawsuit in Delaware's Court of Chancery in which Cooper, which has 13,000 employees worldwide, is seeking a court order to close the deal.
BEIJING, Nov 1- China's newly minted rich can now get up close and personal to the movies after mega-screen maker IMAX Corp signed a deal to produce luxury home theatres in the company's second largest market.
TOKYO, Nov 1- A civil lawsuit between Wynn Resorts Ltd and Japanese billionaire Kazuo Okada has been put on hold for another six months to allow U.S. prosecutors to continue investigating Okada and his companies for possible bribery in the Philippines.
TEL AVIV, Oct 30- Teva Pharmaceutical Industries, the world's largest generic drugmaker, said its chief executive Jeremy Levin was stepping down and finance chief Eyal Desheh would stand in on an interim basis, effective immediately.
India's Infosys said it was in the process of reaching a settlement with the U.S. over the company's alleged misuse of temporary business visas.
JERUSALEM, Oct 28- Teva Pharmaceutical Industries and Chief Executive Jeremy Levin denied an Israeli media report that Levin was considering resigning due to a rift with the company's board of directors.
Recent independent moves by SAIC outside China had been seen by some industry insiders and experts as signalling the two companies might be drifting apart, but GM's top China executive said it was merely a consequence of its state-owned partner's growing maturity as an automaker.
*Shungeng to put 2- 3 billion yuan into Wuxi Suntech initially-source. HONG KONG, Oct 25- China's Shunfeng Photovoltaic International Ltd has signed a preliminary deal to buy the main China unit of Suntech Power, two sources close to the matter said on Friday.
ParkerVision was unable to prove that Qualcomm wilfully infringed its patents, which would have resulted in damages being increased by up to three times. ParkerVision's shares soared about 75 percent on Oct. 17 after the jury in a federal court in Florida found Qualcomm guilty of infringing the company's patents.
TAOYUAN, Taiwan, Oct 23- Taiwanese smartphone maker HTC Corp has halted at least one of its four main manufacturing lines, accounting for at least a fifth of total capacity, and is outsourcing production as a sales slump puts pressure on its cash flow, according to sources with direct knowledge of the situation.
Oct 22- Corning Inc said it would buy out Samsung Display's stake in their LCD glass joint venture in a deal that could see the Samsung Electronics Co Ltd subsidiary take a 7.4 percent share in the Gorilla Glass maker.
BEIJING, Oct 22- Russia's top crude producer Rosneft and China's largest state refiner Sinopec Group will sign a memorandum of understanding on advance payments for Russian oil exports to China, according to announcements made on Tuesday.
Oct 21- Devon Energy Corp said on Monday it would combine most of its U.S. pipeline and processing businesses with those owned by Crosstex Energy Inc and Crosstex Energy LP to form a new midstream partnership.
SAO PAULO/ RIO DE JANEIRO, Oct 15- OGX Petróleo e Gas Participações SA ousted its chief executive as part of a restructuring plan to avert bankruptcy, a source said on Tuesday, the same day shares of the ailing Brazilian oil producer posted their biggest jump ever on hopes that founder Eike Batista might cede control of the company.
Oct 15- Citigroup Inc posted weaker-than-expected third-quarter earnings on Tuesday, hit by a drop in bond trading revenue after the Federal Reserve refrained from changing its bond buying program and customer activity fell. Citigroup's bond trading revenue dropped 26 percent, or $956 million, excluding an accounting adjustment.
*H1 revenue up 14 pct to 1.03 bln stg. LONDON, Oct 15- Christopher Bailey, the designer credited with restoring the cachet to fashion brand Burberry, is to become chief executive next year when long-standing boss Angela Ahrendts will move to Apple. Bailey, the driving force behind the brand for the last 12 years, is staying, " Morgan Stanley said in a note to clients.