Important News Everyday

Mar 10 – China’s mobile phone industry spent $21 billion on 3G technology last year, but business volume and revenues are likely to see only mild growth this year.

Mar 10 – Most Asian share markets crawl higher, led by financials on the first anniversary of Wall Street’s tumble to a 12-year low.

NEW YORK, March 10 (Reuters) – Investment bank Houlihan
Lokey said on Wednesday veteran dealmaker Robert Hyer joined
the firm from Greenhill & Co to head a new practice
focusing on companies in the financial technology industry.

NEW YORK, March 10 (Reuters) – A court-appointed examiner
in the bankruptcy of U.S. hotel chain Extended Stay America Inc
has completed his investigation into the company’s
2007 leveraged buyout and will seek to make his report public,
according to court documents filed late Tuesday.

(Adds Barratt, Helen of Troy, Glanbia, others; updates China
Mobile, Lone Star, Novartis, others)

LONDON, March 10 (Reuters) – Information memoranda have been
issued for the sale of Istithmar’s port and shipping agent
Inchcape Shipping Services (ISS) as the auction gets underway,
bankers close to the deal said on Wednesday.

LONDON, March 10 (Reuters) – EMI Music, which is seeking new
funds to avoid breaching debt covenants, said Chief Executive
Elio Leoni-Sceti would step down shortly, just a month after he
was tasked with finding a new business plan.

* Hu plans to launch new China private equity fund – sources

* To offer up to 30 mln shares, 4.5 mln greenshoe option

* Hana, Kookmin, KDB have expressed interest
(Adds background, comments)