SEOUL/ HONG KONG, Sept 2- British retailer Tesco PLC has picked private equity firm MBK Partners as preferred bidder to buy its South Korean unit, two people with direct knowledge of the process said, in what is set to be the largest ever private equity deal in Asia. Seoul- based MBK, one of the largest Asia- based private equity firms, is backed in its bid for Tesco's South...» Read More
RICHMOND, Va.-- Virginia's general tax collections for September declined, leaving actual revenues behind a budgeted forecast for modest growth one quarter into the state fiscal year. Virginia ended the last fiscal year on June 30 with an unspent balance of $448 million. Corporate taxes were down by 18 percent, to $155 million from $188 million last September.
NEW CASTLE, Pa.-- A New Jersey firm has plans to build a 900 megawatt, $750 million natural gas-fired power plant in western Pennsylvania. LS Power, which has offices in East Brunswick, N.J. and St. Louis says the plant in North Beaver Township, Lawrence County, will be fueled from gas drawn from a pipeline out of Tennessee.
NEW YORK-- Billionaire investor Carl Icahn plans to make an unsolicited bid for truck maker Oshkosh Corp. that values the company at almost $3 billion. The activist investor said Thursday that he will make a tender offer worth $32.50 per share in cash, a 21 percent premium over Oshkosh's latest closing price.
NEW YORK-- Tom Hanks will play a gutsy New York City newspaper columnist when he makes his debut on Broadway in the spring. Previews begin March 1 at the Broadhurst Theatre and an opening night is set for April 1.
TOKYO-- The head of Japan's new nuclear regulatory agency said Thursday that reactors will not be allowed to restart until they pass seismic inspections and meet new safety standards to be instituted next year.
NEW YORK-- Shares of Stillwater Mining Co. tumbled Thursday, after the palladium and platinum producer announced plans to sell $300 million in notes.
NEW YORK-- U.S. airlines closed the summer travel season without any lengthy tarmac delays in August, the government said Thursday, a sharp reversal from a month earlier. On Aug. 15, a Caribbean Airlines flight sat on the tarmac at New York's JFK Airport for four hours and 28 minutes before it took off for its destination, Trinidad and Tobago.
FORT WORTH, Texas-- Shares of Range Resources Corp. climbed Thursday after the company gave an upbeat report on third-quarter oil and natural gas production.
WASHINGTON-- The watchdog for spending in Afghanistan is warning commanders that a safety system to protect U.S. troops from roadside bombs is incomplete or inadequate. It was sent Wednesday to the top commander in Afghanistan, Gen. John Allen, and commander for the Middle East, and Gen.
NEW YORK-- Stocks are higher at midday after an encouraging report from the Labor Department. The Labor Department says applications for unemployment benefits fell last week to 339,000. That's the lowest in more than four years.
DAKAR, Senegal-- The street level of Ousmane Ndiaye's building features a fabric shop. "I could rent this place out for 250,000 francs a month, but I prefer to keep Billal and my sheep here," says Ndiaye, 60, sporting a royal blue boubou as he strokes the head of the sheep he hopes will become a reality television star.
PROVIDENCE, R.I.-- Rhode Island officials say a recent sale of state general obligation bonds shows investor confidence in the state. Lincoln Chafee announced Thursday the state sold $81.4 million in bonds at an interest rate below 3 percent. The bond sale comes after the state saved $7 million in April by selling bonds to refinance $122.9 million in debt.
CHUQUICAMATA, Chile-- From above, it looks like a colossal amphitheater carved from rock, or the vast crater from a meteorite that crashed into Chile's Atacama desert ages ago.
When the stay-at-home mom and her family visited New York from their home in Germantown, Md., they joined the crowd of fans outside the NBC morning show's Rockefeller Center studio.
JUBA, South Sudan-- To fight a backlog of court cases in this poor and rural country, South Sudan plans to introduce mobile courts, a response to criticism that that some defendants have languished in prison for five years without trial.
PARIS-- A bumper season for the French national dish of Coquilles St. Jacques has turned into a bitter dispute in the English Channel, as French fishermen angry over British expansion into their waters surrounded British boats in a show of maritime force.
Kythera Biopharmaceuticals shares are trading above their offering price in their first day listed on the Nasdaq Stock Market. The stock jumped 81 cents, or 4.4 percent, to $19.30 in late morning trading, and earlier traded as high as $20.59.
Oil prices rose Thursday as tension between Turkey and Syria raised concerns that crude oil supplies from the Middle East could be disrupted. On Thursday, Turkey claimed that it forced a Syrian passenger plane to land because it was carrying banned cargo from Russia.