April 24, 2015 6:24 am
A local branch of Chinas competition regulator said on Thursday it has fined Daimler AGs Mercedes-Benz 350 million yuan ($56 million) for allegedly fixing prices of some models and spare parts. In the latest crackdown on a multinational company striving to tap Chinas growing markets, the eastern Jiangsu provinces price regulator said Mercedes carried out […]
Read moreApril 22, 2015 9:44 am
Rolls-Royce Holdings, the worlds second-largest maker of aero engines, announced on Wednesday that former ARM Holdings CEO Warren East will succeed Chief Executive John Rishton who would retire in July. The abrupt top management change comes after a series of profit warnings, disagreements with shareholders and a 30% share price slump in 2014. Mr. East, […]
Read moreApril 21, 2015 10:31 am
International Business Machines Corp reported on Monday a 12th consecutive quarterly revenue decline, dragged by currency headwinds and divestitures, while also claiming an acceleration in its refocusing into the cloud and mobile markets. The worlds biggest technology services firm said it generated revenue of $19.6 billion in the quarter ended March 31st, 12% lower than […]
Read moreApril 20, 2015 10:11 am
French car maker PSA Peugeot Citroën and Chinese partner Dongfeng Motor Corporation marked the first anniversary of their strategic partnership with the announcement that they will jointly develop a global technology platform for both companies next generation of small cars. The two groups chairmen announced at an event in Shanghai on Sunday plans to invest […]
Read moreApril 17, 2015 9:57 am
Nestle SA reported on Friday a smaller-than-expected sales growth during the three months ended March 31st due to negative currency effects, suppressed consumer sentiment in developed markets and shifting consumer preferences in China. Performance, however, topped projections when stripping out exchange rate movements. The Swiss company said that first-quarter sales rose to 20.918 billion francs, […]
Read moreApril 16, 2015 9:58 am
Unilever declared on Thursday a good start to 2015 as first-quarter sales received a boost by favorable currency movements and a shift to more premium products. The producer of Dove soap, Rexona deodorant, Signal toothpaste and Lipton tea reported that Q1 sales rose by 12.3% from a year earlier to €12.8 billion, including a positive […]
Read moreApril 15, 2015 9:44 am
Finnish telecommunications equipment maker Nokia Oyj will acquire smaller French rival Alcatel-Lucent SA in an all-stock deal, creating a group that would better compete with Sweden’s Ericsson, the industry leader, and China’s Huawei Technologies. According to the deal, approved by each companys Board of Directors, Nokia will issue and distribute 0.55 shares for each outstanding […]
Read moreApril 14, 2015 10:12 am
Finnish telecommunications equipment maker Nokia Oyj is in advanced talks to buy French competitor Alcatel-Lucent SA, the two companies said in a joint statement in response to recent media speculation. The deal would combine two of the weaker players in the industry, creating a group worth over $42 billion that would better compete with Swedens […]
Read moreApril 9, 2015 10:08 am
Korean tech giant Samsung Electronics Co. expects record shipments of its new flagships to fuel its first profit gain in seven quarters in the three months ended June following a raft of positive reviews of its new metal-bodied premium smartphones. The S6 may reach sales of 50-55 million units this year, beating its two predecessors […]
Read moreApril 8, 2015 8:41 am
Oil major Royal Dutch Shell announced on Wednesday it has agreed to acquire BG Group for £47 billion in a bid to close the gap on main US rival ExxonMobil and reaffirm its dominance of the global trade in natural gas. In a joint statement, the two companies announced their Boards have reached an agreement […]
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