China’s Fosun eyes acquisitions in N America tourism market


“We’re interested in anything related to the tourism sector, from travel agencies and resort brands to recreational content providers,” Qian Jiannong, SVP, Fosun.

Baidu top exec behind firm’s AI drive to step down

Lu is the latest in a series of high-profile AI experts to leave the company in the past year, amid fierce global competition for talent in the field.

HNA unloads South Africa’s Comair shares as selloff continues

HNA has sold more than $13 billion of assets this year after the company’s debt bloated to $94 billion.

HSBC names Rajeev Sahney as head of Asia advisory, corporates

Sahney, who was previously global head of consumer and retail investment banking, will remain in Hong Kong and advise on transactions across sectors.

China approves Toshiba chip unit sale to Bain Capital

The sale of the semiconductor business will take place on June 1. The deal had already missed earlier deadlines for clearance as the companies waited on Chinese antitrust authorities to make a decision.

Alibaba leads Series B+ financing for musical production firm Seven Ages

Seven Ages said the undisclosed round was the largest single investment to date in China’s booming musical industry.

Sequoia China co-leads $37.5m Series B for biotherapeutics firm HiFiBiO

HiFiBio will use the investment to expand its drug development team and new facilities.

HK’s Arbor Ventures raises $178.6m for second $220m venture fund

Arbor closed its first venture fund in 2014, raising $100 million.

Chinese accelerators in Silicon Valley aim to bring US startups home

At least 11 China-focused accelerators have been created in the San Francisco Bay Area since 2013.

People Digest: Three transitions at Avendus Capital; KKR appoints APAC realty head

Global financial services provider Avendus Capital has announced three new transitions in the firm while KKR has appointed a real estate veteran to heads its Asia Pacific real estate business.