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	06/16/2011
Hello Samsonite, the world's biggest luggage maker, dropped 7.7 percent in its Hong Kong trading debut on Thursday, underscoring tepid investor appetite for initial public offerings as global markets struggle. Pipeline operator Energy Transfer will buy smaller rival Southern Union for about $4.11 billion to bolster its natural gas gathering and transportation capacity amid burgeoning production from U.S. shale fields. Alibaba Group said it has reorganized Taobao, China's largest e-commerce website, into three separate companies, squashing any chance of a Taobao public offering. Investors learned a hard lesson on Wednesday about red-hot Internet companies: they can go cold very quickly. The Lonely Value Investor writes about loving Pandora's product, but hating the stock. LATEST NEWS Energy Transfer to buy Southern Union for $4.11 billion BANGALORE (Reuters) - Pipeline operator Energy Transfer Equity L.P. will buy smaller rival Southern Union Co for about $4.11 billion to create one of the largest U.S. natural gas pipeline operators amid burgeoning production. | Full Article Insight: For short sellers of Chinese stocks, it's time to reap June 16, 2011 10:41 AM ET LOS ANGELES (Reuters) - Two investors who say they have been making big money shorting Chinese stocks listed in the United States, fronted up to their adversaries this week -- in a mood to swagger. | Full Article Demag welcomes raised $1.4 billion bid by Terex June 16, 2011 09:11 AM ET FRANKFURT (Reuters) - Demag Cranes AG said it expected to recommend an offer by Terex Corp after the U.S. construction machinery maker sweetened its bid and agreed to give its German rival autonomy after a deal. | Full Article HSBC, Citi given nod to underwrite China corporate debt June 16, 2011 06:35 AM ET HONG KONG/SHANGHAI (Reuters) - The China units of HSBC Holdings and Citigroup Inc have won initial approval to underwrite corporate debt in China, paving the way for them to be the first foreign banks to win the coveted licenses, sources told Reuters on Thursday. | Full Article Alibaba to split, not IPO, e-commerce unit Taobao June 16, 2011 11:19 AM ET SHANGHAI (Reuters) - Alibaba Group said on Thursday it has reorganized Taobao, China's largest e-commerce website, into three separate companies, squashing any chance of a Taobao public offering. | Full Article TOP NEWS Data offers a mixed picture of recovery June 16, 2011 10:48 AM ET WASHINGTON (Reuters) - A gauge of regional manufacturing activity slumped to a near two-year low in June, suggesting U.S. factories were faltering, overshadowing better than expected readings on the labor and housing markets. | Full Article Bin Laden deputy Zawahri takes over as Qaeda leader June 16, 2011 10:54 AM ET DUBAI (Reuters) - Veteran militant Ayman al-Zawahri has taken command of al Qaeda after the killing of Osama bin Laden, an Islamist website said on Thursday, a move widely expected following his long years as second-in-command. | Full Article Anthony Weiner to step down: Democratic source June 16, 2011 11:27 AM ET WASHINGTON/NEW YORK (Reuters) - Representative Anthony Weiner, embroiled in a sex scandal for sending lewd photos of himself to women over the Internet, has told House Democratic leader Nancy Pelosi he will resign from Congress, a party source said on Thursday. | Full Article Greek PM reshuffle plan in doubt as deputies quit June 16, 2011 10:44 AM ET ATHENS (Reuters) - A string of parliamentary resignations on Thursday threatened to thwart Greek Prime Minister George Papandreou's plan to reshuffle his cabinet and pass austerity measures needed to save the nation from default. | Full Article Gaddafi's son holds out offer of elections June 16, 2011 10:59 AM ET TRIPOLI (Reuters) - Libya's Muammar Gaddafi is willing to hold elections and step aside if he lost, his son said on Thursday, an offer unlikely to placate his opponents but which could test the unity of the Western alliance trying to force him out. | Full Article TECHNOLOGY NEWS CIA website goes down, hackers claim responsibility Citi says 360,000 accounts hacked in May cyber attack RIM faces tough sell on earnings, outlook JK Rowling launches new Harry Potter website Nortel delays closely watched patent sale by a week RELATED VIDEO Scientists see nano-solution to airplane safety The Political Future for Greece Asian stocks fall on Greece debt woes A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. 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