E-commerce logistic company Holisol gets first venture capital fundingHolisol, set up in June 2009, received its first venture capital funding of $1.5 million from oil and gas professional Sundeep Bhandari.
- Sanofi plans mega US deal to counter sales dip
Sanofi-Aventis, France’s biggest drugmaker, is preparing a major acquisition in the US, according to five people with knowledge of the situ...
- Greece bondholders may lose $265 bn: S&P
Holders of Greek bonds may lose as much as $265 billion should the government default, according to Standard & Poor’s.
- Dubai debt fears resurface as questions linger
As world markets warily eye Greece's financial crisis, investors are once again focusing on unresolved questions surrounding how deeply ind...
- Dubai looks to Abu Dhabi as debt obligations surge
Dubai may depend on support from neighbouring Abu Dhabi and the federal government of the United Arab Emirates to help pay for a surge in b...
- European giants emerge from Wall St's shadow
The three European banks stand to gain in any business that requires capital, such as derivatives or prime brokerage services, said an anal...
- KDB may rope in banks for Lehman stake buy
Korea Development Bank (KDB) is in talks to buy a stake in Lehman Brothers as Asian investors shore up Wall Street firms beaten down by the...
- Rouble, stocks take cheer as Russia holds fire in Georgia
The rouble surged the most in seven years, Russia’s Micex Index climbed, and the cost of protecting the country’s bonds fell the most in si...
- GM to sell assets, cut jobs to stay on track
General Motors said that it will suspend its stock dividend, cut salaried jobs and sell assets to increase its available cash by at least $...
- US property insurer Liberty Mutual to buy Safeco for $6.2 bn
Liberty Mutual Group, the sixth-largest US property and casualty insurer, agreed to buy Safeco for about $6.2 billion, the industry’s bigge...
- Merrill to axe 3,000 after $2 b Q1 loss
Merrill Lynch & Co posted its third straight quarterly loss and said it will cut about 3,000 more jobs after the credit seizure forced the ...
- Car sales at 10-yr low in US
General Motors and Ford Motor will probably say December US auto sales fell as consumers reined in spending, ending a year with the lowest ...
- GM suffers largest-ever loss of $39 bn on deferred tax charge
General Motors, the world’s biggest automaker, reported a $39 billion Q3 loss, its largest ever, after writing down $39 billion of future t...
- GM reaches landmark pact with union
General Motors reached an historic contract agreement with the United Auto Workers, ending a two-day strike.
- Hotel shares in Europe join the party
Shares of European hotel companies rose after Hilton Hotels agreed to be taken private by Blackstone Group for $20 billion, fueling specula...
- Goldman, Merrill are ‘junk’, say own traders
Goldman Sachs Group, Merrill Lynch and Morgan Stanley, which earned a record $24.5 billion in 2006, suddenly have become so speculative tha...
- SCO, DataVision foray core banking solutions
Leading IT vendors provide core banking solution to BRIC market banking institutions as banks move from branch automation to centralized co...