Asia: Business
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Amid tougher times, some companies want to leave the China, but they are learning departing is harder than entering. Caixin reports.
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TOKYO, Jan 22- The Nikkei share average extended gains on Tuesday afternoon after the Bank of Japan announced an open-ended commitment to buy assets and doubled its inflation target to 2 percent to boost Japan's ailing economy. The Nikkei rose 1 percent to 10,855.03 after trading at around 10,777 before the BOJ announcement.
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The glamour, champagne-soaked launches and celebrity clients belie a mounting unease in the world of "super-yachts."
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By Leika Kihara and Tetsushi Kajimoto. TOKYO, Jan 18- Japan's government and central bank have agreed to set 2 percent inflation as a new target next week, when the Bank of Japan will also consider making an open-ended commitment to buy assets until the target is in sight, sources familiar with the BOJ's thinking told Reuters.
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*Sun Life, Malaysia state investor to pay $597 million. *Deal to Insurer targeting southeast Asia.
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*To buy 98 pct in the venture from Aviva, CIMB Group. *CIMB to retain 2 pct stake. Jan 17- Canada's Sun Life Financial Inc and Malaysian state investor Khazanah will buy the Malaysian insurance joint venture of Britain's No.2 insurer Aviva Plc and lender CIMB Group.
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SAN FRANCISCO/ LOS ANGELES, Jan 16- In the spring of last year, John Doerr received some bad news: Miasole, the solar-panel maker backed by his famed venture capital firm, Kleiner Perkins Caufield& Byers, was on the verge of bankruptcy. If Miasole went under, it would be a dramatic collapse for a once-promising startup that in its heyday had been valued at $1 billion.
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SAN FRANCISCO/ LOS ANGELES, Jan 16- In the spring of last year, John Doerr received some bad news: Miasole, the solar-panel maker backed by his famed venture capital firm, Kleiner Perkins Caufield& Byers, was on the verge of bankruptcy. If Miasole went under, it would be a dramatic collapse for a once-promising startup that in its heyday had been valued at $1 billion.
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*To stand down as CEO by May 10. HONG KONG, Jan 15- One of China's best known corporate leaders, billionaire Jack Ma, will step down as CEO of Alibaba Group, the e-commerce empire he founded to tap the nation's enormous online shopping potential, passing the reins to "a younger, better equipped" generation.
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HONG KONG, Jan 15- One of China's best known corporate leaders, Jack Ma, will step down as CEO of Alibaba Group, the e-commerce firm he founded in 1999 to tap the nation's enormous online shopping potential, saying younger people are better placed to run the company.
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Jan 15- Automobile manufacturer Fiat said the chief executive of its China joint venture, Jack Cheng, will move to a new position within the group. "This is a planned succession," said Mike Manley, the Fiat-Chrysler executive in-charge of the Asia-Pacific region, at the Detroit auto show.
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*Fast Retailing heavily weighted, accounting 1/ 3 of gains. Top-weighted gainer Fast Retailing Co rose 4.2 percent after the operator of casual clothing chain Uniqlo raised its earnings guidance for the business year ending August. percent to 10,780.45 after rising as high as 1.7 percent to 10,830.43, the highest level since February 2011.
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ZURICH, Jan 9- Nestle is working with Rothschild to divest some Latin American assets valued at more than $1 billion as it seeks regulatory approval for its acquisition of Pfizer's nutrition unit, Bloomberg reported, citing three people with knowledge of the matter.
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*China economic data eyed later this week. LONDON, Jan 8- Copper dipped on Tuesday as worries over corporate earnings and fiscal problems in the United States began to outweigh supportive economic signals from China and some signs Europe's economy may be stabilising. China is the world's biggest copper consumer, accounting for 40 percent of refined demand.
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*Barrick Gold says approach "prudent and disciplined". LONDON, Jan 8- Barrick Gold Corp has ended talks to sell a stake in majority-owned African Barrick Gold to a Chinese buyer, dashing hopes of a potential $3 billion deal for the underperforming unit.
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*Sony considers sales of battery unit, no decision yet. LAS VEGAS, Jan 7- Sony Corp is considering the sale of its battery business but has made no decision yet, Chief Executive Kazuo Hirai said on Monday, as the company seeks to offload non-core assets and revive its consumer electronics business.
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NEW YORK, Jan 7- The newly appointed chief executive of Citigroup Inc named two veterans of the bank to lead its institutional and consumer businesses as he announced his new management team on Monday.
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China Galaxy Securities has filed applications to regulators for a planned $1.5 billion initial public offering in Hong Kong and Shanghai, IFR reported on Friday.
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*Unions have until Jan 31. to back restructuring plan. MADRID, Jan 2- Spanish airline Iberia said on Wednesday it has reached a preliminary agreement with pilots over plans to restructure the loss-making airline by laying off staff and cutting salaries.
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*POSCO, China Steel, ArcelorMittal long-term iron ore pact. *ArcelorMittal battles sluggish steel demand. SEOUL/ BRUSSELS, Jan 2- ArcelorMittal, the world's biggest steelmaker, will sell a 15 percent stake in one of its Canadian iron ore operations, raising $1.1 billion to help pay off debt at a time of sluggish demand.
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*POSCO, China Steel, ArcelorMittal long-term iron ore pact. SEOUL/ HONG KONG, Jan 2- ArcelorMittal, the world's biggest steelmaker, will sell a $1.1 billion stake in a Canadian iron ore mine operator to a consortium that includes South Korean steelmaker POSCO and Taiwan- listed China Steel Corp, China Steel said in a statement.