Nina Wang, Asia's richest woman is no more
Hong Kong: Hong Kong heiress and Asia's richest woman, Nina Wang, has died of an unspecified illness.
Reports had earlier speculated that she was battling cancer. A number of questions have arisen over her estimated $4.2 billion fortune.

Wang, 69, won a court case in 2005 for assuming control over her late husband's business empire.

Wang, ranked by Forbes magazine as Asia's 35th richest person, had no children but is survived by at least one brother and reportedly other siblings. Lawyer Wong Tak-sing said under Hong Kong law Nina Wang's brothers and sisters could apply to inherit her fortune if she did not have a will. Wang's nieces or nephews could share the wealth as well if their parents had died.

Wang successfully battled her father-in-law for a multi-billion dollar estate left by her late husband Teddy Wang, a property tycoon who vanished more than a decade ago.
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Daimler confirms Chrysler sell-off plans
It is now official that DaimlerChrysler is looking to sell its US subsidiary Chrysler. Daimler Chrysler CEO Dieter Zetsche confirmed that the company is in talks with interested parties.

While no clear buyer has emerged for the company, the candidates include Canadian auto-parts supplier Magna International, which is reported to have bid up to €3.5 billion ($4.7 billion) for the company, Cerberus Capital Management and a consortium led by Blackstone Group.

Daimler bought the US automaker in 1998 for €27 billion ($36 billion) but increasing demand for smaller, more fuel-efficient vehicles triggered by increased gas prices in the US has hit the company hard.

Chrysler has concentrated on gas-guzzling minivans, pickups and SUVs, and this business model saw the company lose €1.12 billion ($1.5 billion) in 2006.
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US services sector growth down
New York: Growth in the US service sector fell to a four-year low last month while the job market showed only modest improvement, Wednesday reinforcing views of a weakening economy.

The Institute for Supply Management said its non-manufacturing index slid to 52.4 in March, down from February's 54.3 and confounding expectations for a rise.

Meanwhile, US private employers likely added 106,000 jobs in March, according to a report by ADP Employer Services. The March figure was higher than February's 57,000 gain but below markets' expectations.
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