Japan's SMBC Nearing Deal for GE's European Private-Equity Finance Unit -- Update

Japan's Sumitomo Mitsui Banking Corp. is nearing a deal to buy General Electric Co.'s European private-equity finance business, according to people familiar with the matter, the latest step in the industrial conglomerate's retreat from banking. (published 0159 GMT)

 
 
Walt Disney to Merge Units for Interactive Media, Consumer Products

Seven years after launching a stand-alone interactive-business unit, Walt Disney Co. is merging it with a larger sibling. (published 0127 GMT)

 
 
Celgene to Pay Juno $1 Billion as Part of 10-Year Collaboration

Celgene Corp. agreed to pay Juno Therapeutics Inc. $1 billion as an initial investment in a 10-year collaboration that is the latest and one of the most ambitious partnerships to develop treatments that harness the immune system to fight cancer. (published 0135 GMT)

 
 
Hyundai to Replace GM as NFL Sponsor

Hyundai Motor Co. has replaced General Motors as an official sponsor of the NFL, signing a four-year deal that gives the South Korean company a platform at some of the most viewed events in the U.S., such as the Super Bowl and National Football League playoffs. (published 0250 GMT)

 
 
Berkshire Hathaway Opens in New Zealand, Expands in Australia

Warren Buffett's Berkshire Hathaway Inc. has opened a new office in New Zealand and will broaden its operations in Australia as part of a push to grow its insurance business in the Asia-Pacific region. (published 0228 GMT)

 
 
China Kingstone Mining Expects Significant Drop in First-Half Revenue

China Kingstone Mining Holdings Ltd.'s first-half revenue is expected to fall significantly due to weak sales. (published 0132 GMT)

 
 
BHP Billiton Shifts Responsibility for Potash Unit

BHP Billiton Ltd. said it was shifting responsibility for its potash unit to group project-management executive Dean Dalla Valle. (published 0034 GMT)

 
 
OUE Commercial REIT Announces Rights, Preference Units Issue

OUE Commercial Real Estate Investment Trust said it plans to raise a total of about 1.17 billion Singapore dollars via loans, a rights issue and a sale of convertible preference units to fund its proposed purchase of a property in Singapore. (published 0146 GMT)

 
 
Bahamas Resort Baha Mar Files for Bankruptcy Protection -- 2nd Update

Baha Mar Ltd., the development company behind the massive $3.5 billion resort complex in the Bahamas, filed for bankruptcy protection Monday, blaming a Chinese contractor for repeated construction delays that left it owing millions of dollars a month to employees with no customers to serve. (published 0056 GMT)

 
 
Lippo: Net Profit for Year Ended March HK$552.2 Mln

Lippo Ltd. said its net profit for the year-ended March rose nearly four-fold to 552.2 million Hong Kong dollars due to gains from the disposal of its units as well as pre-sales on a completed property development. (published 0029 GMT)

 
 
COL Capital: Buyer Cancels Purchase of Jiatai Construction

COL Capital Ltd. has received a notice from an unnamed buyer canceling the purchase of Jiatai Construction because volatility in China's financial markets made it difficult to obtain funding. (published 0007 GMT)

 
 
China Bank Secures $158 Mln Loan

China Banking Corp. said Tuesday it has secured a $158 million, three-year loan from a syndicate of foreign banks, the Philippine lender's first return to the international market since 1997. (published 0101 GMT)

 
 
Future Land Development Holdings Wins CNY485.0 Mln Bid for Land in Zhejiang Province

Future Land Development Holdings Ltd. said before trading hours Tuesday that it won a bid to develop a piece of land in China for 485.0 million yuan . (published 0107 GMT)