By Joseph Checkler and Peg Brickley
Hedge fund Standard General LP will lead the bidding at a bankruptcy auction of 1,700 or more RadioShack stores, as the electronics retailer tries to save some of its struggling business.
By William Boston
BERLIN--The buzz over who would become the next chief executive of auto maker Volkswagen AG gained volume this week as current boss Martin Winterkorn suggested the field is wide open.
By Jason Ng
KUALA LUMPUR--Shares of Integrax Bhd (9555.KU) rose as much as 6.6% after state-owned power company Tenaga Nasional Bhd (5347.KU) raised its takeover offer for the port and terminal operator to 761.5 million ringgit ($211 million).
Integrax hit a high of 3.22 ringgit and last traded at 3.21 ringgit around 0250 GMT.
By Saurabh Chaturvedi
KUALA LUMPUR--Oil and gas services firm Bumi Armada Bhd (5210.KU) Thursday reported a net loss of 52.56 million ringgit ($14.6 million) in the October-to-December quarter partly due to impairment charges and provisioning in accounts amid a fall in global commodity prices.
Fourth Quarter 2014 Highlights: - Revenue of $400 million and adjusted EBITDA of $81 million for 20 percent adjusted EBITDA margin; full year adjusted EBITDA of $353 million for 20 percent adjusted EBITDA margin
- Revenue of $400 million compares to $412 million in prior year, down 3 percent, excluding $24 million external CP titanium slag sales in prior year to reflect decision to withdraw from external CP titanium slag market in second half 2014 - Pigment revenue of $264 million down 5 percent versus prior year; sales volumes down 1 percent and selling prices down 5 percent; Pigment adjusted EBITDA of $46 million up $37 million versus prior year; adjusted EBITDA margin of 17 percent - Mineral Sands revenue of $183 million compares to $224 million excluding $24 million CP titanium slag external sales in prior year; external sales volumes up 15 percent excluding prior-year CP titanium slag sales volumes; Mineral Sands adjusted EBITDA of $54 million
By Will Connors and Paulo Trevisani
SÃO PAULO--A decision by a major credit-rating firm to downgrade to junk status the debt of Petróleo Brasileiro SA is stoking fears that Brazil's sovereign rating could be next.
By Benoît Faucon and Rory Jones
TEHRAN--Decorated with a foosball table, brightly colored walls and videogame consoles, the offices of Café Bazaar look no different than many Internet startups in technology hubs like San Francisco, London or Berlin.
BEIJING--China's central bank should ease banks' loan-to-deposit ratio and increase liquidity in the banking system to encourage lending and head off deflation, according to the research chief of the Industrial & Commercial Bank of China Ltd.
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