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Press Releases

Dalian Wanda plans to privatize its property arm for $4.4bn

Wang Jianlin's fortune founded on property developments but more recently he has moved into entertainment with Legendary Entertainment, writes the FT.

Source: Financial Times

UPDATE 1-Strong Jaguar Land Rover sales drive tripling of profit at India'a Tata Motors

MUMBAI, May 30- Strong sales by luxury vehicle maker Jaguar Land Rover and higher demand for trucks in its home market powered a tripling of net profit at India's Tata Motors Ltd in the latest quarter. Strong demand for the Jaguar XE compact saloon, nicknamed the' baby Jag', and the Discovery Sport SUV pushed sales at the British luxury unit up 28 percent to 158,813...

Source: Reuters

Alibaba tells vendors to halt drug sales online, cites government rule change

SHANGHAI, May 30- Chinese e-commerce firm Alibaba Group Holding Ltd has told vendors on its Tmall website to stop selling medicine, saying a local regulator has issued an "urgent" directive halting drug sales via third-party platforms. Alibaba, in a notice dated May 27 seen by Reuters, cited a circular from the Hebei province branch of the China Food and Drug...

Source: Reuters

Taiwan stocks rise on bargain hunting; ASE extends gains

TAIPEI, May 30- Taiwan stocks rose on Monday on bargain hunting and led by further gains in Advanced Semiconductor Engineering Inc after the top chip and test packaging company said last week it would join hands with a rival to form a new holding company. On Thursday, ASE and Siliconware Precision Industries Co Ltd, the island's top two chip and test packaging...

Source: Reuters

Noble CEO Alireza quits, Americas Energy Solutions put up for sale

Troubled commodities trading firm Noble Group said its chief executive Yusuf Alireza had quit for "family reasons."


BRIEF-Noble Group shares fall more than 3 percent after CEO resigns

BRIEF-NOBLE GROUP SHARES FALL MORE THAN 3 PERCENT AFTER CEO. May 30- Noble Group Ltd. *Shares fall more than 3 percent after CEO resigns.

Source: Reuters

Bankruptcy in sight for South Korean shipbuilders

The specter of bankruptcy is hanging over a major part of South Korea's economy, further threatening the country's stagnant growth.


Chinese detergent maker sorry for harm done by racist ad

BEIJING— A Chinese laundry detergent maker apologized for the harm caused by the spread of an ad in which a black man "washed" by its product was transformed into a fair-skinned Asian man. Shanghai Leishang Cosmetics Ltd. Co. said it strongly shuns and condemns racial discrimination but blamed foreign media for amplifying the ad, which first appeared on Chinese...


India's Sun Pharma gets U.S. subpoena over generic drugs pricing

MUMBAI, May 28- The U.S. Department of Justice has subpoenaed India's largest drugmaker Sun Pharmaceutical Industries Ltd seeking information about the pricing and marketing of the generic drugs it sells in the United States, the company said on Saturday. Senator Bernie Sanders and Democratic Representative Elijah Cummings. Sun Pharma, the world's...

Source: Reuters

Cramer's game plan: All eyes on employment, Fed could pull the trigger

Jim Cramer has this number on his radar next week. To say it is important would be an underestimation.