Li Ka-shing says his elder son Victor will be his successor in principle

“Arrangement for the group’s business has been well prepared. They (Victor and Richard) have their own businesses,” he told the media outside his home in Clearwater Bay in Hong Kong on Wednesday morning. “My medical check up shows that...

Toshiba taps consortium as preferred bidder for memory business sale

Troubled Japanese conglomerate Toshiba on Wednesday announced it has selected a consortium led by the public-private Innovation Network Corporation of Japan as a preferred bidder for its prized memory chip business. The consortium consists of the INCJ, Bain Capital...

Chairman of major Chinese developer Vanke is stepping down, and shares are jumping

The founder and chairman of developer China Vanke, Wang Shi, said he will step down from the board following a long power struggle over the company’s ownership. “Today, Vanke announced a new board of directors of the candidate list. When I was considering...