February 18, 2015 1:10 pm
HSBC Holdings Plcs private bank offices were searched by authorities on Wednesday as a part of an investigation over allegations of money laundering. Genevas public prosecutor said in a statement that it have launched an investigation in relation to the recent “public disclosures”. The raid began early on Wednesday and it was led by Attorney […]
Read moreFebruary 18, 2015 11:09 am
Alibaba Group Holding Ltd is again challenging rival Tencent, this time for control over the “red packets” that Chinese people usually exchange on special occasions, including the Lunar New Year. Last year Tencent introduced an application that enables its users to send virtual red envelopes to loved ones as the company attempted to upgrade the […]
Read moreFebruary 18, 2015 9:33 am
Sony Corp unveiled on Wednesday a mid-term strategy aimed at boosting earnings over the next three years as the company focuses on entertainment, games and image sensors. The Tokyo-based company projected to reach an operating profit of ¥500 billion in the fiscal year ending March 31, 2018. The figure compares with an estimate for this […]
Read moreFebruary 17, 2015 4:01 pm
Goodyear Tire & Rubber Co reported on Tuesday a significant increase in quarterly profit driven by a one-time tax benefit, which made up for lower European sales amid warmer winter. Net income for the three months stood at $2.13 billion, or $7.68 a share, compared with a profit of $228 million ,or $0.84 a share, […]
Read moreFebruary 17, 2015 2:19 pm
TNT Express NV swung to a loss in the fourth quarter and projected tougher competition in its major markets to persist during the year ahead. The Dutch logistics company reported net loss of €137 million in the three months to December compared to a positive result of €32 million a year ago. Operating performance stood […]
Read moreFebruary 17, 2015 1:05 pm
Orange SA projected on Tuesday lower earnings in the year ahead as the telecoms operator faces severe competition at home, but promised to keep its dividend stable via cost reductions. Europes largest mobile operator estimated it would deliver between €11.9 billion and €12.1 billion in earnings before interest, taxes, depreciation and amortization during 2015. However, […]
Read moreFebruary 17, 2015 10:58 am
Kering SA reported annual results in line with expectations as robust performance from the groups smaller luxury brands made up for lower demand of its core product line ups. Net income increased substantially from €49.6 million in 2013 to €528.9 million in the past year, despite poor financial performance of its two main brands, Puma […]
Read moreFebruary 17, 2015 9:30 am
Rolls-Royce Holding Plc said on Monday it will co-operate with Brazilian authorities should they chose to approach the company over the allegations of bribery in the country. Rolls-Royce paid bribes through an agent in order to win a $100 million contract with Petrobras, according to a testimony from a former executive of the Brazilian company. […]
Read moreFebruary 16, 2015 4:00 pm
Balfour Beatty announced on Monday it had sold a £40 million stake in its wind farm operations off the coast of Kent as a part of the struggling British infrastructure groups turnaround plan. The group said it had reached a deal with fund management company Equitix to sell 80% of its Thanet offshore transmission project. […]
Read moreFebruary 16, 2015 2:20 pm
Aer Lingus Group Plc has appointed Stephen Kavanagh to replace Christoph Mueller as chief executive as the Irish airline continues takeover negotiations with International Airlines Group. Mr. Mueller, who joined the company in 2009, announced last year that he will step down from the lead position and join Malaysia Airlines as chief executive. During his […]
Read more