Caterpillar to Issue Renminbi-Denominated Debt

Heavy equipment manufacturer Caterpillar is marketing a two-year 1 billion renminbi bond to institutional investors in Hong Kong. It’s only the second multinational company to test the waters of the “dim sum” market, and its o…

Madoff Trustee Sues UBS for $2 Billion

The trustee representing investors cheated by Bernie Madoff sued Swiss bank UBS (UBS) for $2 billion.

The suit alleges that UBS collaborated with Madoff’s Ponzi scheme, The Associated Press reported. The suit alleges 23 counts of financial fraud and …

Asics to Offer Cheaper Shoes in Bid to Boost Sales

Asics Corp. (ASCCF) plans to start selling cheaper shoes in a bid to boost its sales.

Asics will start selling shoes with a recommended retail price of about $60. Previously, it sold running shoes priced between $75 and $125, leaving the lower end of…