InfoAnda - Renesas shareholders set to approve $2.4 billion bailout, shares soar |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Fourth 'Underworld' film leads domestic box office | | 23 January 2012
Iranian police kill 10 drug smugglers | 1 February 2009
RIM announces 4G tablet, touts corporate interest | | 6 January 2011

Lenovo returns to Chinese management after 3Q loss | 6 February 2009

Forum Views () Forum Replies ()

Read more with google mobile : Renesas shareholders set to approve $2.4 billion bailout, shares soar |

Edition: U.S. Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Investing Simplified Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB Dividends World World Home U.S. Brazil China Euro Zone Japan Africa Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Nader Mousavizadeh Lucy P. Marcus Nicholas Wapshott Bethany McLean Anatole Kaletsky Zachary Karabell Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Reihan Salam Frederick Kempe Christopher Papagianis Mark Leonard Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Separatists winning in Catalonia, Spain: early results 25 Nov 2012 Black Friday online sales top $1 billion for first time: comScore 12:20am EST Japan's new first lady says rode UFO to Venus 02 Sep 2009 Prescribe morning-after pills in advance, say pediatricians 12:08am EST Apple seeks to add more products to Samsung patent lawsuit 25 Nov 2012 Discussed 110 Gaza truce pressure builds, Cairo in focus 79 Susan Rice battles critics as abrasive style takes toll 48 McCain says U.N.’s Rice could change his mind over Benghazi Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more Gaza conflict Our latest pictures from inside Israel and Gaza. Slideshow Battle for Syria Rare scenes from the fighting inside Syria. Slideshow Sponsored Links Renesas shareholders set to approve $2.4 billion bailout, shares soar Tweet Share this Email Print Related News CORRECTED-Renesas jumps 5 pct on report of shareholder bailout approval Sun, Nov 25 2012 Sharp's stock falls, credit downgraded as worries mount Fri, Nov 2 2012 Sharp forecasts bigger full-year operating loss Thu, Nov 1 2012 Sony posts small second-quarter profit, keeps full-year forecast Thu, Nov 1 2012 Panasonic cleans house with writedowns, sees $9.6 billion loss Thu, Nov 1 2012 Analysis & Opinion Japan shuns fiscal cliff, wonâ€™t escape growth funk Related Topics Tech » Hot Stocks » Asian Markets » The Japanese chipmaker Renesas Electronics Corp's logo is pictured at the company's headquarters in Tokyo, in this file picture taken May 28, 2012. Shareholders of Japan's embattled Renesas Electronics Corp have approved a government-led bailout, the Nikkei newspaper said, sending the chipmaker's shares more than 6 percent higher on relief that the $2.4 billion rescue was being finalised, Reuters reported on November 26, 2012. Credit: Reuters/Yuriko Nakao/Files By Maki Shiraki and Mari Saito TOKYO | Mon Nov 26, 2012 1:58am EST TOKYO (Reuters) - Shareholders of Japan's embattled Renesas Electronics Corp are close to approving a government-led bailout, sources familiar with the talks said, sending the firm's shares 17 percent higher on relief that the $2.4 billion rescue was being finalized. The deal is set to keep the world's biggest maker of microcontroller chips afloat for the next few years, but analysts say that despite job cuts and planned plant closures, Renesas still faces many challenges including the restructuring of its loss-making system chip division. The state-backed Innovation Network Corp will spend 180 billion yen ($2.2 billion) to take a two-thirds stake in Renesas, which has been hit by fierce overseas competition, production cuts by clients and fragile finances that have prevented it from upgrading infrastructure. As part of the bailout, eight manufacturers including key clients such as Toyota Motor Corp and Nissan Motor Co Ltd will provide another combined 20 billion yen. Shareholder approval of the deal, while expected, had been delayed for several weeks and an announcement is now likely in early December, said the sources, who declined to be identified as the matter is not public. A Renesas spokesman said nothing had been decided. Investors jumped to cover short positions in the stock, said Makoto Kikuchi, chief executive officer of Myojo Asset Management, noting that unlike some other troubled Japanese electronics firm such as Sharp Corp, the company's expertise in chips for cars meant it was worth investing in. The bailout was put together to counter an earlier bid by U.S. private equity firm KKR & Co LP amid worries that the firm's technology would fall into foreign hands. "As soon as stock investors see signs that the company is working hard to return to profit, they will be prepared to invest long-term," Kikuchi said. Shares in Renesas closed 16.6 percent higher at a two-month high but are still down 42 percent since the beginning of April, the start of Japan's fiscal year. Recent history has been brutal for Japan's chipmakers and Renesas, formed from the struggling chip divisions of its major shareholding companies Hitachi Ltd, Mitsubishi Electric Corp and NEC Corp, will be keen not to repeat the mistakes of now-bankrupt fellow chipmaker Elpida Memory Inc. Elpida, formed from the merger of several big companies' DRAM chip making operations, succumbed to slumping prices and relentless competition from South Korean rivals and is being acquired by Micron Technology Inc of the United States. Japan's tech sector has also seen the creation of Japan Display Inc, a firm formed from the divisions of three TV makers which make small liquid crystal displays and which the Innovation Network Corp has also invested in. The bailout comes on top of 161 billion yen in syndicated loans from four Japanese banks in September, and before that a separate 97 billion yen Renesas previously received from the banks and its major shareholders. In return, the company has slashed more than 7,000 jobs this year and pledged to sell or close eight out of its 18 domestic plants within three years. Renesas, which competes with Samsung Electronics Co Ltd and U.S.-based Freescale Semiconductor Inc, has predicted a net loss of 150 billion yen for the year to March. The Nikkei newspaper also said on Monday that Renesas will receive an additional 1 billion yen each in support from Hitachi and NEC. Sources said the two firms will not take in Renesas employees, while Mitsubishi Electric is considering taking in some workers from the chipmaker. ($1 = 82.3700 Japanese yen) (Additional reporting by Ayai Tomisawa; Editing by Edwina Gibbs) Tech Hot Stocks Asian Markets Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Monday, 26 November 2012
Former Liberian president Taylor should be a free man: judge |
Catalonia to test Spanish unity with separatist vote |
Bersani leads in Italy centre-left primary: exit poll |
Serbia Democrats elect Belgrade mayor as new party leader |
Israel says successfully tests more powerful rocket interceptor |
Vampires foil Tooth Fairy, Santa to claim box office win |
Rihanna equals Madonna with third UK number one album |
Egypt's Mursi to meet judges over power grab |
Euro zone, IMF to seek Greece deal, debt write-off main problem |
Analysis: German hint of Greek debt relief raises euro hopes |
Catalan election weakens bid for independence from Spain |
Syrian rebels take airbase in slow progress toward Damascus |
BOJ rift surfaces over easing as political debate heats up |
Australia apologizes for abuse in military going back to 1950s |
New fire at Bangladesh garment factory, day after deadly blaze |
Congo says no talks with rebels unless they quit Goma |
Shadow of Roh neck and neck with dictator's daughter before South Korea polls |
Renesas shareholders set to approve $2.4 billion bailout, shares soar |
Apple seeks to add more products to Samsung patent lawsuit |
Rolling Stones turn back clock with hit-filled comeback |
Psy's Gangnam Style video becomes YouTube's most viewed |
From trash to treasure: Everest litter becomes art |
Toronto mayor ordered removed from office |
Thousands protest in Bangladesh after deadly blaze |
Slovakia teachers walk out over demands for higher wages |
Israel, Hamas teams in Cairo for more truce talks |
Iran criticizes U.S. over delayed Middle East atomic talks |
Facebook not so fun with a click from boss or mom |
Nokia unveils 2 new cellphone models, priced at $62 |
FBI uses Twitter, social media to look for securities fraud |
Rolling Stones give satisfaction despite high prices |
Grandfather takes China by storm
Olympic opening ceremony wins UK theatre award |
Olympus whistleblower eyes movie deal with le Carré sons |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01