PepsiCo Inc. is buying a majority stake in Russian company Wimm-Bill-Dann Foods for $3.8 billion. The move will make PepsiCo the biggest Russian food and beverage company and broaden its presence in Eastern Europe and Central Asia. Get the full story »
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Groupon buys 3 Asia sites as part of shopping spree
Chicago-based Groupon has offices at 600 W. Chicago, pictured here on Nov. 30, 2010. (Phil Velasquez/Chicago Tribune)
Daily deal startup Groupon is on a shopping spree of its own, even amid feverish speculation that Google is on the verge of making a big offer for the Chicago company.
Groupon said late Tuesday it has bought three daily deal sites based in Asia, moving the company into Hong Kong, Singapore, the Philippines and Taiwan. Terms of the deals with uBuyiBuy, Beeconomic and Atlaspost were not disclosed. Groupon’s first foray into Asia was in August, when it acquired a Japanese rival. The company said it is now in 35 countries.
Closer to home, Groupon has acquired Ludic Labs, a Silicon Valley technology company, for an undisclosed amount. Groupon said Ludic Labs’ most well-known products are Offer Foundry, an advertising and promotional platform for local businesses, and Diddit, a Web-based community where members can browse through local activities and attractions. Ludic Labs and Groupon have both raised money from Accel Partners, a Silicon Valley venture capital firm. Get the full story »
WikiLeaks sets sights on major U.S. bank
A big U.S. bank is the target of the next megadata dump by WikiLeaks, the online site that this week released a trove of confidential U.S. diplomatic cables from around the world. In an interview with Forbes, WikiLeaks’ Julian Assange compared the upcoming release, scheduled for next year, to the damaging emails that came out after the collapse of Enron Corp. He did not identify the bank.
That’s not stopping others from speculating.
Get the full story »
Airbus ready to upgrade A320, may say on Weds.
Airbus has virtually finalized a decision to upgrade its best-selling A320 passenger jet with new engines and the $1-2 billion project could be announced as early as Wednesday, two sources familiar with the matter said.
The project is designed to fend off competition from new market entrants like Canada’s Bombardier and shore up the European planemaker’s position against rival Boeing. Get the full story »
Madonna opens first Hard Candy Fitness gym
U.S. singer Madonna smiles with Mexico City Mayor Marcelo Ebrard at the opening of her Hard Candy Fitness gym in Mexico City. (Henry Romero/Reuters)
She writes children’s books and makes wine, dons a spandex leotard like no one else and has sold millions of albums around the world. Now she wants you to have a toned body.
Madonna launched her new brand of “Hard Candy Fitness” gyms in Mexico City on Monday, opening a huge, 30,000-square-foot (2,787-square-meter) compound where Mexico’s rich and the beautiful can go through dance classes and fitness routines inspired by the singer’s routines. Get the full story »
Nov. 30, 2010 at 5:55 a.m.
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Filed under: International, Investigations, Policy, Technology EU launches formal Google probe after complaints
European Union antitrust regulators launched a formal investigation on Tuesday into Google after several search service providers complained that the company had abused its dominant position. Get the full story »
Caterpillar plans to shift parts sourcing to China
Caterpillar Inc. plans to move “as much as possible” of the sourcing for its most complex parts from Japan to China, the Financial Times reported Monday on its website.
The company imports 40% of components for its excavator factories from Japan, according to the FT. However, it plans to cut that by at least a quarter within five years as it prepares for a bigger shift. Get the full story »
U.S., South Korea trade chiefs to meet on deal
Top U.S. and South Korean trade officials will meet Tuesday and Wednesday in Columbia, Maryland to try again to resolve differences blocking U.S. approval of a free trade agreement, U.S. officials said. Get the full story »
Sara Lee to buy regional Brazilian coffee company
Sara Lee Corp. said Monday it agreed to buy Cafe Damasco, a small Brazilian coffee company, for roughly $60 million as it looks to strengthen its position in South America’s largest country. Cafe Damasco has a leading position in the southern Brazilian state of Parana, and 2009 net sales of about $60 million. Get the full story »
CME to launch Oman-linked contracts on Dec. 5
The Dubai Mercantile Exchange said on Thursday six new swaps and options contracts linked to its benchmark Oman crude OQc1 would be listed on Dec. 5. The exchange launched the Oman contract in 2007, aiming for it to become the marker for the 12 million barrels per day of crude that move from the Middle East to Asia.
It said the new contracts would be launched by CME Group Inc., the world’s biggest futures exchange operator and a shareholder in DME. Get the full story »
Putin: Russia seeks 2011 WTO entry
Russian Prime Minister Vladimir Putin and German Chancellor Angela Merkel in Berlin on Nov. 26, 2010. (John MacDougall/AFP/Getty Images)
Russia may be able to join the World Trade Organization as soon as next year, completing over a decade and a half of membership negotiations, Prime Minister Vladimir Putin said on Friday.
“Regarding our possible accession to the WTO in 2011, I think this is possible, and we would like this to happen,” he said at a joint press conference with Chancellor Angela Merkel. Get the full story »
Oil slips on dollar rise, euro zone woes
U.S. oil prices slipped in light post-holiday trading on Friday as Europe’s debt crisis pushed the euro to a two-month low against the dollar and investors eyed tensions between North Korea and South Korea. Get the full story »
Fiat proposes Chrysler joint venture at Turin plant
Fiat and Chrysler CEO Sergio Marchionne on Friday proposed a joint venture with Chrysler LLC to build Alfa Romeo and Jeep brand vehicles at Turin’s Mirafiori auto plant.
Ireland bailout not a done deal, EU says
A bailout package for Ireland is still under discussion and it isn’t clear whether it will be OKd Sunday, a spokesman for the European Commission said Friday.
“It’s not decided … We are not there yet … We’re making good progress,” Amadeu Altafaj Tardio, spokesman for Economic and Monetary Affairs, told journalists.
An EU source told Dow Jones Newswires earlier Friday that European Union finance ministers will hold a teleconference Sunday to discuss the economic situation in Europe. The call is likely to involve finance ministers from all 27 EU member states, the person said.
Northern Trust marks opening of Beijing branch
Northern Trust celebrated the opening of its first China branch, in Beijing, on Tuesday.
Chicago-based Northern has had a representative office in Beijing since 2005. Such an office can be used to build relationships in the market, but many services have had to be provided from offices in Singapore, Hong Kong or elsewhere. Having a branch enables Northern to provide more client services from Beijing. Get the full story »
