The board of Pioneers Holding Co.(CAI:PIOH) agreed to acquire Beltone Financial Company through increasing the capital of the company and share swap with the shareholders of Beltone Financial.
Overnight the US stocks slid over disappointing data in regional economy, as well as worries on the crucial data ahead including personal income, consumer spending, weekly jobless claims, manufacturing and home sales.
Wall Street closed lower overnight after American consumer confidence reading in September dropped unexpectedly. The weakness in US technology stocks, which had been a leader for much of Wall Street's six-month rally, yesterday led a fall in the market. The Conference Board's consumer confidence index dipped in September to 53.1 from 54.5 in August as people worries about job market.
Wall Street was higher on Friday as a government report showed that the pace of job losses slowed in August. But the US stocks were still in negative territory for the week with the worst performance since early July.
Wall Street fell for a third session despite a positive manufacturing data in August. The sell-off was caused by concerns over banks' outlook and fears about September, which was historically one of the market's weakest months.
Macquarie Group Ltd. (ASX:MQG) said it has formed a Shanghai-based trust company joint venture with two state-owned companies.
US stocks opened lower overnight due to the massive drop in Shanghai shares, which also caused a broad selloff in Asia markets. But Wall Street ended the day higher as the energy companies were boosted on hope of an improving demand. The US oil futures rose after the US Department of Energy said US oil inventories plunged unexpectedly.
