A South Korean court on Wednesday ruled in favour of a proposed merger of two Samsung Group subsidiaries, rejecting a US hedge fund's motion to stop the eight-billion-dollar acquisition. US hedge fund Elliott had asked for a court injunction to stop Cheil Industries acquiring Samsung C&T Corp through an all-stock deal, a move seen as an effort by Samsung's founding Lee family to boost control over the conglomerate ahead of a generational power transfer. "The court rejected the request from Elliott," a court spokesman told AFP.
The death toll from the crash of an Indonesian air force plane packed with military personnel and their families rose to 142 Wednesday, as witnesses described people fleeing the disaster zone covered in blood with their clothes alight. It was the second time in a decade that the city has suffered a fatal plane accident.
ATHENS, Greece (AP) — Eurozone finance ministers were set to weigh Greece's latest proposal for aid Wednesday, hours after the country's international bailout expired without a deal, cutting it off from vital financing and deepening fears over whether it will be able to remain in the eurozone.