Sothebys (NYSE:BID) announced today that Linus Wing Lam Cheung has been unanimously elected to join the Company's Board of Directors. Mr. Cheung is the retired Chief Executive Officer of Hong Kong Telecom and a renowned collector of Chinese Art.
Directors of GoConnect Ltd (ASX:GCN) are pleased to advise that the company's IPTV business channel, World Business Network, has just received approval from LG Inc. (SEO:066570) and has gone live on all LG Internet connected TVs sold globally. The World Business Network is available as a downloadable application on all Internet connected TVs of LG. It currently carries two programs, The Business Show, which distributes a series of sponsored business interviews conducted by Adam Shand, and the ABN Newswire business news programs.
Asian Activities Report for December 12, 2011 includes: Skyworth Digital Holdings Limited (HKG:0751) recorded significant year-on-year growth of 188% and 190% in sales volume of LED LCD TV; NTT Data Corporation (TYO:9613) will initiate the integration of its regional group companies in North America and South America in January, 2012; Toyota Tsusho Corporation (TYO:8015) has signed an agreement with AWE Limited (ASX:AWE) to acquire two equity interests in gas projects in Australia for a cash consideration of A$80.125 million.
The Australian shares dropped this morning after Wall Street ended its four straight day rises. US shares fell on news that orders for big-ticket items sank in June on weaker demand for airplanes and electronic goods.
Two of Seven Network Ltd's (ASX:SEV) largest independent shareholders have agreed to support the merger of the television network and industrial equipment company WesTrac Holdings after extracting better terms for the deal. Seven Network's key institutional shareholders Ausbil Dexia and Perennial Value represent around 28.1% of shares outside those held by ACE, Kerry Stokes' private vehicle.
Monday Wall Street rose as higher commodities prices boosted energy and mining companies. The US markets also received support from positive consumer spending in February. Asian markets closed mixed yesterday. Chinese stocks rallied as China said it plans to launch the long expected stock-index future in April 16. Shanghai Composite jumped 2.1 per cent to a two month high, while Hong Kong's Hang Seng Index climbed 0.9 per cent. South Korea's Kospi Composite was 0.3 per cent lower. Japan's Nikkei 225 lost 0.1 per cent.
Australian shares rallied on Monday with gains in resources stocks helped to lift the market. The better-than-expected corporate earnings also fueled the rise. At the close, the benchmark S&P/ASX200 index was 82.4 points, or 1.8 per cent higher, at 4717.5, while the broader All Ordinaries index rose 76.4 points, or 1.6 per cent, to 4732.7.
