Trading House Sumitomo Eyes Investing in Westinghouse
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By Kyodo News International, Tokyo  Jan. 30--TOKYO -- Trading house Sumitomo Corp. is considering investing  in Westinghouse Electric Co., a major U.S. nuclear reactor builder which  Toshiba Corp. took control of last year, industry sources said Tuesday.
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U.S. retailer Home Depot Inc.  is preparing to spend $100 million on a majority stake in Chinese chain HomeWay in a deal that will be unveiled in China this week, the Financial Times said on Monday.
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Japanese trading house Itochu Corp., seeing future growth in the United States, said Tuesday it had bought a power station in the southeastern state of Virginia.
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Wal-Mart Stores Inc  will spend up to 100 billion yen ($878 million) to buy out minority shareholders in Japanese supermarket unit Seiyu Ltd  in an effort to turn around the loss-making chain.
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Misawa Homes Holdings Inc. shares surged as much as 8.1 percent after Japan&#39;s corporate bailout agency agreed to help reorganize the builder with aid from banks and investment from Toyota Motor Corp.
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Property investor GE Real Estate  is seeking to buy a large property portfolio in Finland, including the possibility of buying a local firm, its chief executive was quoted as saying.
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The company is in a phase of explosive growth, and that costs money.
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Shares in LG.Philips LCD Co Ltd  (034220.KS) surged on Friday on market talk Japan's Matsushita  Electric Industrial was buying a stake in the South Korean flat  screen maker, but both firms poured cold water on the talk.
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(InfoWorld) - News coming out the chip sector has been great so far this week, but analysts warn that economic woes such as the housing mess might still spoil the party. The consensus among analysts appears to be that corporate and personal spending on technology products will be hurt by the housing issues in the U.S., but nobody knows how bad the impact will be, according to Peter Sutton, head of research at CLSA Asia-Pacific Markets in Taipei. Demand for technology products, especially computers and mobile phones, in the rest of the world is going strong, he said, but even that demand could pull back in the event of a U.S. slowdown because many developing countries depend on exports to the U.S. for income. By the end of this year, people should know how bad the loan and home foreclosure situation will be, according to Sutton. The housing market in the U.S., he said, is expected to bottom in the first quarter of next year. The fear is that the housing issues could hurt consumer spending at some point later this year, but so far the technology industry isn't showing any signs of trouble. The flow of good news started in Asia on Monday with the world's largest contract chip maker, Taiwan Semiconductor Manufacturing Co. (TSMC), reporting record high sales in August and revising up its third quarter financial guidance. The company, considered a bellwether for the overall tech industry because of the variety of gadgets it makes chips for, said consolidated sales in August rose 10 percent year-over-year to NT$30.02 billion (US$907.0 million), beating its previous record of NT$27.96 billion from July of last year. TSMC also predicted its third quarter revenue will likely hit between NT$87 billion to NT$89 billion, higher than a previous forecast of NT$85 billion to NT$87 billion, and said its gross margin would come out at the top end of expectations. Some customers asked TSMC to ship some chips earlier than expected, a spokesman for the company said, but the company won't comment on how that might impact the fourth quarter. Taiwanese chip designer MediaTek followed up TSMC's news, announcing an agreement to buy certain telecommunications chips products from Analog Devices Inc., of Norwood, Massachusetts, for US$350 million in cash. The deal itself isn't huge, but merger and acquisition activity normally takes place when companies see bright prospects for the future, and MediaTek is looking to use the acquisition as part of its mobile phone chip strategy. Among the products the company acquired is a chipset used in TD-SCDMA (Time Division-Synchronous Code Division Multiple Access) basebands and radio receiver products, which will help it increase its presence in its main market, China. TD-SCDMA is the 3G (third-generation) telecommunications standard being pursued in China. Positive corporate news for chip makers didn't stop in Asia. As the work day opened in the U.S., technology industry watchers were treated to theÂ long-awaited launch of Barcelona, the new quad-core processors from Advanced Micro Devices. The Sunnyvale, California company announced a number of companies are already using the chips, including IBM, Sun Microsystems, Dell, and Gateway. The world's largest chip maker capped Monday with the biggest news of the day.Â Intel raised its third quarter revenue forecastÂ to between US$9.4 billion and US$9.8 billion from a previous range of US$9.0 billion and US$9.6 billion, and said its gross margin would be at the upper end of guidance due to stronger than expected global demand for computing products. Despite the strong chip news and outlook for the current quarter, which ends Sept. 30, the future remains uncertain. "Near term data shows little evidence of order cutbacks in the tech supply chain," said Warren Lau, chip analyst at Macquarie Research Equities. "But having said that, the question remains: will the sky come crashing down because of the meltdown in the U.S. subprime markets?"
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International Place developer Donald J. Chiofaro said yesterday a new partner will put a quarter of a billion dollars into his two downtown towers, a financial rescue that would reduce his ownership share considerably but stave off an impending takeover by his current lender.
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TOKYO Wal-Mart Stores is considering taking a stake in the heavily indebted Japanese retailer Daiei, a move that could greatly expand the presence of the world&#39;s largest retailer in the world&#39;s second-largest retail market.
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Business & money: Billionaire Mike Ashley is understood to be preparing to install himself as chairman of the chain
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There could be some value lurking in the stock-market bargain basement.
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U.S. investment banks Morgan Stanley  and Lehman Brothers  are among the bidders for a stake in Japanese house builder Daito Trust Construction Co , sources familiar with the deal said, in what could stack up to be one of the biggest buyouts ever in Japan.
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Property investor GE Real Estate   is seeking to buy a large property portfolio in Finland,  including the possibility of buying a local firm, its chief  executive was quoted as saying.
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The home improvement giant said it's considering selling its wholesale supply business.
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Westinghouse, the nuclear-plant builder sold by BNFL, wins a billion-dollar contract to build reactors in China.