Business news for Mon, 17 Dec 2007 & with word venture. 12 news.

HSBC Holdings Plc, Europe's biggest bank by value, aims to start three new funds on the Chinese mainland next year as it taps into the country's rising demand for investment products. "We will see a strong growth and I would be surprised if we didn't see at least US$2 billion of new funds flowing in," Rudolf Apenbrink, chief executive officer of HSBC Investments Hong Kong Ltd, said in an interview with Bloomberg News. HSBC already manages three funds worth US$1.5 billion on the mainland under the joint venture HSBC Jintrust Fund Management Co. It expects to receive regulatory approval for its fourth fund soon and will apply for the qualified domestic institutional investment, or QDII, quota in May, Apenbrink said. Financial companies, including banks, fund managers and insurers, invest abroad using QDII quotas. To cope with managing more funds, HSBC Jintrust plans to recruit as many as 20 new employees next year, Apenbrink said. The company has about 100 employees.

Shares of Memsic, a maker of sensors used to add touch, pedometer, or light-show functions to mobile phones, edged up 20 cents, or 2 percent, to $10.20 in the company’s debut on the Nasdaq Global Market Friday afternoon. The Andover, Massachusetts-based company is backed by Ottawa-based Celtic House Venture Partners and Waltham, Massachusetts-based Still River Funds, [...]

A start-up is developing a marketplace for trade in virtual goods used in online games. Game publishers are cooperating in the venture.

The bitter dispute between French food and beverage maker Groupe Danone SA and its Chinese joint venture partner Wahaha has deepened, with Wahaha's labor union saying it is suing Danone.

Inside a tiny warehouse in a nondescript Folsom industrial park, Michael Ware busily builds game geeks' dreams.

Inside a tiny warehouse in a nondescript Folsom industrial park, Michael Ware busily builds game geeks' dreams.

Dozens are turning to venture capitalists, seeking to bypass Hollywood and reach viewers directly online. Dozens of striking film and TV writers are negotiating with venture capitalists to set up companies that would bypass the Hollywood studio system and reach consumers with video entertainment on the Web.

Daimler will form a truck-making joint venture in India with Hero, and has sold property in Berlin to SEB.

The former CEO of the late 1990s-era Intranets.com is back. And he's treading familiar ground as he leads a new venture to build online communities within companies -- this time with a twist: opening corporate intranets and wikis to the larger web community, where better knowledge may exist.

MyBuys Inc. just raised $10 million to dig its heels into the "behavioral targeting" market -- a growing favorite among venture capitalists, particularly since Hearst Corp. bought shopping recommendation site Kaboodle in August.

The IMAX big screen holds the promise of star status -- at least temporarily -- for AMC Entertainment Inc.

RIO TINTO and its joint venture partner will spend over $1 billion to expand the Kestrel coal mine in Queensland in a bid to satisfy growing demand from China.