Carrefour to stay in Malaysia, Singapore

A bidding war is heating up for Carrefour's supermarkets in Thailand, Malaysia and Singapore as the French retail giant plans its exit after failing to take a dominant position in the region.Carrefour, the world's second-biggest retailer behind US colossus Wal-Mart, is looking to offload its 43 Thai, 23 Malaysian and two Singaporean hypermarkets in a sale some estimates suggest could net a billion dollars.

French retail giant Carrefour plans to sell its business in Malaysia, a minister said, amid speculation the firm will also offload its Singapore and Thai stores and exit Southeast Asia altogether."We heard that Carrefour is considering divesting. It is for the purpose of rationalisation of their overseas business," deputy trade minister Mukhriz Mahathir told AFP late Monday."They want to sell their business (in Malaysia)," he said, adding that "other hypermarkets are keen to take over" Carrefour's 23 stores in the country."There are many suitors," he said.

MONTREAL — Bay Street investment firm Invesco Canada Ltd. has concluded that forcing Rona Inc. into the hands of U.S. suitor Lowe’s Cos. immediately was an unwinnable proposition. So instead of pursuing a proxy fight to force a quick takeover, Invesco is gambling there may be another way to rescue its ailing stake in Rona: Giving turnaround specialist Robert Chevrier a chance to build back Rona’s share price for a potentially higher takeover premium later on.

Shrinking US sales have Wal-Mart looking to small stores for growth. The world’s largest retailer, known for its giant supercenters, is finally giving small a chance.

(Reuters) - Malaysian state investor Khazanah Nasional Bhd has offered to buy General Electric's $1.8 billion stake in Thailand's Bank of Ayudhya , sources familiar with the matter said, pitting it against Japan's biggest lender Mitsubishi UFJ Financial Group (MUFG) . The bid by Khazanah was a surprise, the sources said, declining to be identified as the information is not public. The proposed acquisition would be the largest purchase of an overseas banking asset by Khazanah as the sovereign wealth fund plays catch-up with Singapore state investor Temasek Holdings Pvt Ltd . ...

ByCraig Van Pelt: Introduction

NEW YORK – Wal-Mart Stores Inc. will buy an additional US$50-billion in U.S.-made goods over the next decade in areas like sporting goods and high-end appliances in what the world’s largest retailer called a bid to help boost the U.S. economy. Wal-Mart, the largest private employer in the United States, also said on Tuesday it plans to hire 100,000 newly discharged veterans over the next five years, at a time when the U.S. unemployment rate is at 7.8%.