- Gome Planning Legal Action Against Former Founder Huang Guangyu
Gome said the board of directors decided to sue Huang Guangyu over his “alleged breach of fiduciary duties as a director of the Company relating to the repurchases of the company’s own shares in or about January and February 2008, and breach of trust.”
- Private Banks: From "Offshore" to "Onshore"
Both domestic and foreign banks, by establishing private banks in China, aim to lay a good foundation in exploring clients before the country lifts the cap on businesses in this segment.
- Geely Completes Volvo Deal
Chinese car maker Zhejiang Geely Holding completes its $1.8 billion acquisition of Volvo Car Corp. from Ford Motor Co..
- Li Ka-Shing to Buy EDF’s UK Grids for $9.1Bln
The deal, once completed, will make Li Ka-Shing one of the largest holders of the UK’s infrastructure assets with one fourth of the country’s electricity distribution market in hand.
- ICBC Plans 45Bln Yuan in Rights Offer
Industrial and Commercial Bank of China plans to raise up to 45 billion yuan via a right issue in Shanghai and Hong Kong to replenish capital.