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Four banks short-listed to buy Citibank Japan's retail business

Sep 20, 2014

Four banks short-listed to buy Citibank Japan's retail business

Citibank Japan has narrowed down candidates to buy its retail banking business to four Japanese banks, including Sumitomo Mitsui Banking Corp., Sumitomo Mitsui Trust Bank and Shinsei Bank, it was learned Saturday. The four candidates survived the first round of auction conducted by the ...

Sep 20, 2014

Folksy beer maker Pabst Brewing to be sold to Russian company

The maker of Pabst Blue Ribbon beer is being sold to Russian company Oasis Beverages for an undisclosed sum. Oasis is buying Pabst with TSG, an investment firm known for its work with consumer products companies. TSG Consumer Partners will take a minority stake ...

Alibaba surges 38% on massive demand in market debut

Sep 20, 2014

Alibaba surges 38% on massive demand in market debut

Alibaba Group Holding Ltd. .’s shares soared 38 percent in their first day of trading on Friday as investors jumped at the chance for a piece of what is likely to rank as the largest IPO in history, in a massive bet on China’s ...

Sep 20, 2014

Insider trading solution in digital age: Post-it notes

With no surreptitious phone call or text message on illicit hot stock tips safe from U.S. regulators, Frank Tamayo thought he had a perfect no-tech foil: Post-it notes. According to charges filed Friday by the Securities and Exchange Commission, for more than five years ...

Investors breathe sigh of relief at Scottish vote

Sep 20, 2014

Investors breathe sigh of relief at Scottish vote

Scotland’s decision to reject independence from the United Kingdom gave British markets a short-term lift Friday but worries over future constitutional changes kept a lid on the relief rally. The No campaign won 55.3 percent of the votes cast in Thursday’s referendum against 44.7 ...

Sep 19, 2014

Dollar hits new six-year high above ¥109

The dollar jumped to a new six-year high above ¥109 in Tokyo trading on Friday as investors were relieved to learn that Scotland voted to remain in the United Kingdom. At 5 p.m., the dollar stood at ¥109.09-10, up from ¥108.54-55 at the same ...

| Sep 19, 2014

Nikkei ends near seven-year high

Stocks advanced sharply on the Tokyo Stock Exchange Friday on the heels of higher U.S. equities and the yen’s rapid falls, pushing up the benchmark Nikkei index to its highest closing level in nearly seven years. The Nikkei 225 soared 253.60 points, or 1.58 ...

As mobile arm struggles, Sony looks to PlayStation

| Sep 19, 2014

As mobile arm struggles, Sony looks to PlayStation

by Sophie Knight

The head of Sony Corp.’s PlayStation division hopes to raise its profit outlook for this year, in stark contrast to the electronics firm’s mobile business, which has forecast deep losses and sent Sony’s stock reeling. With Sony’s three core electronics businesses — the third ...

Dividend-challenged Sony contemplates smartphone exit from China

Sep 19, 2014

Dividend-challenged Sony contemplates smartphone exit from China

Sony Corp. might sharply downsize its smartphone operations in China because business is unlikely to grow against competition from popular local rivals, company sources said Thursday. Sony, which on Wednesday warned of a bigger loss than previously projected for fiscal 2014 ending March due ...