Steel baron Lakshmi Mittal may be assessing a bid for Burren Energy, the Economic Times said on Thursday, shortly after Italian oil major Eni dropped a possible $3.5 billion bid for the British oil producer.
After a volatile trading session, Asian markets ended mostly lower as caution prevailed amid worries about the health of the U.S. economy -- the region's top export destination.
Arcelor Mittal, the world's largest steel maker, has raised its stake in China Oriental Group to over 73 percent, becoming the first foreign firm to take control of a Chinese steel maker.
Dubai International Capital (DIC) plans to buy stakes in large Asian listed companies such as Singapore Telecommunications and DBS Group Holdings, a Singapore newspaper reported.
Mitsubishi UFJ Financial Group, Japan's largest bank, posted a 49 percent drop in first-half profit on Wednesday, hit by subprime-related investments and hefty losses at its credit card unit.
Japan Tobacco, instant noodle maker Nissin Food Products and frozen food maker Katokichi announced Thursday a deal under which Japan Tobacco and Nissin will purchase the frozen food producer.
Oil prices spiked to a record high just shy of $100 a barrel lifting the shares of energy firms, but financial stocks sank Asian markets. Japan closed 2.4 percent lower whilst South Korea shed 3.5 percent.
Trading proved volatile in the afternoon Asia session Tuesday with markets see-sawing and in out of the black. Australia and South Korea ended lower, but a late turnaround pushed Japanese stocks out of the red with the Nikkei closing 1.1 percent higher.
A group of investors led by U.S. buyout firm J.C. Flowers & Co will bid about $1.8 billion for up to 32.6 percent of Shinsei Bank, reinvesting in the Japanese bank it helped resurrect in one of the most lucrative private equity deals ever.
Asian markets closed mostly lower Monday with investors selling stocks on U.S. economic concerns amid a lack of market-moving factors. Japan and South Korea both finished lower after initial gains during the morning session.
Asian markets closed sharply down Friday, amid renewed worries about the health of the U.S. economy and the effects of the credit crunch on the broader global economy. Japan, South Korea and Australia all declined.
Asian markets closed lower Thursday, with investors selling ahead of key U.S. October consumer inflation data due later today. Japan, South Korea and Australia all finished lower despite trading higher throughout most of the session.
The World Bank on Thursday lifted its economic growth estimate for East Asia this year by a full percentage point after an unexpected strong spurt in China's growth in the first half of 2007.
Asian markets rebounded after four straight sessions of losses, with some markets climbing nearly 5 percent as investors picked up financials and other battered stocks.
Asian markets closed mixed Tuesday, with Japan ending weaker for an eight consecutive session. But South Korea and Australia managed to eke out gains after weaving in and out of negative territory throughout the day.
Soaring food costs drove up China's inflation in October, reinforcing expectations that the central bank will raise interest rates again before long to keep a lid on price pressures. Consumer price inflation quickened to 6.5 percent in October, matching the near 11-year peak scaled in August, from 6.2 percent in September.
Asian markets closed sharply down Monday, with investors dumping stocks and seeking safer bets after more evidence that U.S. subprime-mortgage related woes continue to feed into the global banking sector and economy. Japan and South Korea closed sharply lower, with today's losses wiping out all of the Nikkei's gains for 2007.
China on Monday posted a record trade surplus for October, but the total was smaller than expected, as climbing raw material costs and strengthening domestic demand gave a boost to imports.
Asian markets closed mixed, with stocks under pressure as the U.S. dollar slumped to a record low against the euro in the afternoon session Friday. Japan shed over 1 percent but South Korea and Australia both finished higher.
Japanese and European antitrust authorities raided companies making cathode ray tubes on Thursday on suspicion of price-fixing.