TIFFANY PROFIT RISES 16% ON SALES GROWTH
Tiffany's fiscal 2Q profit jumped 16% to $124.1 million, or 96c
a share, as Americas and Asia-Pacific regions drove sales higher.
Sales rose 7% to $992.9 million. Results beat analysts' views and
it raised its earnings outlook for the year.
OCBC IN TALKS TO SELL UNITED ENGINEERS STAKE
Singapore's Oversea-Chinese Banking Corp. said it is in
exclusive talks to sell its stake in United Engineers Ltd. to Thai
billionaire Charoen Sirivadhanabhakdi, as deal activity in the
city-state continues its record run.
SNAPCHAT FETCHES $10 BILLION VALUATION
Kleiner Perkins Caufield & Byers has agreed to invest in the
fast-growing ephemeral message service Snapchat at a valuation of
close to $10 billion, people with knowledge of the matter said.
FONTERRA IN TIE-UP WITH CHINESE BABY-FOOD MAKER
Fonterra Co-Operative Group is seeking to broaden its reach in
China after several setbacks, including a food-safety scandal that
scarred its reputation. The New Zealand dairy producer unveiled a
partnership with Beingmate Group Co.
BUSINESS LEADERS SLAM SCOTTISH INDEPENDENCE
More than 130 business leaders have signed an open letter
slamming the case for Scottish independence, marking the biggest
intervention by the U.K. business community in the referendum
debate so far.
DALIAN WANDA GROUP PLANS VENTURE WITH TENCENT, BAIDU
China's Dalian Wanda Group plans to launch a 5 billion yuan or
$814 million e-commerce joint venture with Internet giants Baidu
and Tencent, in a move to bridge China's online technology with
Wanda's bricks-and-mortar retail space.
RUSAL FIRST-HALF REVENUE FALLS
Aluminum producer United Co. Rusal said its revenue fell 15.7%
in the first half of 2014 to $4.38 billion from a year earlier,
though it swung to a second-quarter profit from a year-earlier
loss.
MEDTRONIC BUYS ITALY'S NGC MEDICAL
Medtronic said it acquired NGC Medical in a deal that values the
privately-held Italian company at $350 million, as Medtronic seeks
to expand its hospital managed-services offerings.
TOWER BERSAMA, PROTELINDO RACE TO BUY TELECOM TOWERS
Some of Indonesia's largest telecommunications infrastructure
companies including are among the bidders to buy some of the
telecom towers of XL Axiata Tbk. in a deal that could be worth
about $500 million.
RBS FINED OVER MORTGAGE ADVICE FAILINGS
The U.K. financial regulator has fined Royal Bank of Scotland
GBP14.47 million ($24 million) for "serious failings" related to
the mortgage advice it gave customers.
CHINA RESOURCES POWER PRESIDENT UNDER PROBE
Prosecutors in China are investigating Wang Yujun, president of
state-owned China Resources Power Holdings, the second major
official probe to hit the group this year, the company said.
JAPAN'S RIKEN REBOOTS AFTER STEM-CELL SCANDAL
Japan's largest comprehensive research institute announced a
major shake-up of a unit responsible for much of the work on
disputed studies that purported to show a revolutionary method of
creating stem cells easily.
VIETNAM AIRLINES PLANS NOVEMBER IPO
Vietnam Airlines plans to launch an initial public offering in
November, aiming to raise 1.5 trillion Vietnamese dong for the
government through the sale of a 5% equity stake in the state-run
carrier to public investors.
WESTFIELD LIFTS STAKE IN ITALIAN MALL DEVELOPMENT
Westfield said that it expected to start building a $1.84
billion Italian shopping mall and will seek other opportunities in
mainland Europe as it tries to expand outside its traditional
markets, the U.S. and UK.