Driven by ambitions to make China a great power, President Xi Jinping is staking his political authority on a huge task: overhauling the Chinese military. The New York Times reports.» Read More
Oct 3- Auto parts supplier Visteon Corp said its chief financial officer Martin Welch stepped down and will be replaced by chief accounting officer Michael Widgren on an interim basis.
MELBOURNE, Oct 4- Australian shares rose 0.2 percent early on Thursday as gains in banks offset weaker miners, with sentiment supported by encouraging jobs growth data in the United States.
*Malaysian court to hear application on injunction against Australian miner Lynas. *Plantation Industries and Commodities Minister Bernard Dompok opens Malaysia Timber Council's Global Woodmart 2012 at Kuala Lumpur Convention Centre at 0830 am.
GLOBAL MARKETS-Oil slumps on China, Europe worries; dollar gains. STOCKS TO WATCH-- IEV HOLDINGS LTD. -IEV Holdings said it would receive a 15 percent interim cash dividend from its associated company CNG Vietnam Joint Stock Company for this year, amounting to $1.5 million.
KUALA LUMPUR, Oct 4- Pay-TV firm Astro Malaysia Holdings Bhd priced its initial public offering at the top end of an indicative range, a source said, raising $1.5 billion and highlighting Malaysia's emergence as Asia's top IPO destination this year.
KUALA LUMPUR, Oct 4- Astro Malaysia Holdings Bhd, the country's largest pay-TV firm, has priced its initial public offering at the top of its indicative range, one source with knowledge of the deal said, to raise about $1.5 billion in Malaysia's third-largest IPO this year.
*Russia may be irritated with calls for new sanctions-envoys* Israel has threatened military action against Iran By Louis Charbonneau.
SINGAPORE, Oct 4- JPMorgan has named Simon Page as head of a newly formed Southeast Asia debt capital markets team and plans to add more debt bankers in Singapore to capitalise on a boom in bond issuance.
Oct 3- Applied Materials Inc said it would cut its workforce by 6 to 9 percent to reduce costs as it struggles with a slowdown in its chip manufacturing equipment business and troubles at its solar and display groups.
is putting pressure on Standard Chartered Plc t o appoint more independent directors, the Wall Street Journal reported, citing people familiar with the matter. Shares of Standard Chartered fell more than 3 percent on Sept. 25 on renewed speculation that Temasek may sell its 18 percent stake in the Asia- focused bank.
Oct 3- Diversified manufacturer 3 M Co on Wednesday terminated its $550 million deal to buy Avery-Dennison Corp's office and consumer products business. The proposed deal, announced in January, was to bring together two well-known consumer product families including 3 M's Post-It notes and Avery's HI-LITERS markers.
Oct 3- Applied Materials Inc said it would cut its workforce by between 6 percent and 9 percent to reduce costs as it struggles with a slowdown in its chip manufacturing equipment business and troubles at its solar and display groups.
*China, Europe services PMI disappoint. NEW YORK, Oct 3- Oil prices fell sharply on Wednesday as disappointing economic data from China and Europe reinforced concerns about slowing growth and a weakening demand for petroleum, even as supportive U.S. data strengthened the dollar.
Oct 3- Auto parts supplier Visteon Corp said its chief financial officer Martin Welch stepped down and will be replaced by chief accounting officer Michael Widgrenon on an interim basis.
Oct 3- 3 M Co said it terminated its deal to buy Avery-Dennison Corp's office and consumer products business. The U.S. Justice Department had in September threatened a lawsuit to block the $550 million deal over antitrust concerns. Keywords: 3 M AVERYDENNISON OFFER/.
Oct 3- Chip gear maker Applied Materials Inc. The company expects to record a pretax restructuring charge of between $180 million and $230 million. Applied Materials expects to substantially complete the restructuring plan by the end of the third quarter of fiscal 2013..
But the chief executives of Las Vegas- based MGM Resorts International and Las Vegas Sands Corp. differed during a keynote panel discussion with four other industry leaders at the Global Gaming Expo about whether states or the federal government are best able to provide oversight.
By Yeganeh Torbati and Marcus George. DUBAI, Oct 3- Riot police clashed with demonstrators and arrested money changers in Tehran on Wednesday in disturbances over the collapse of the Iranian currency, which has lost 40 percent of its value against the dollar in a week, witnesses said.
TEHRAN, Iran-- Iranian authorities used aggressive measures Wednesday in an attempt to halt the nosedive of the country's currency, making arrests, vowing to stamp out sidewalk money changers and warning merchants against fueling the mounting public anger over the economy.
The asset management and investment firm hired vetran brokers E.H. Stanley Jr. and Geddings H. Crawford Jr, who previously worked at Morgan Stanley Wealth Management, the brokerage majority-owned by Morgan Stanley. The asset management business of Aviva Plc named Patrick Brien as chief executive of its Asia Pacific region.