January 27, 2015 2:39 pm
Pfizer Inc announced on Tuesday it expects a drop in sales this year as the largest US drugmaker reported a decline in revenue during the fourth quarter. Pfizer stated a revenue of $13.12 billion during the three months ended December 31, down 3.3% from last years $13.55 billion. Net income for the quarter stood at […]
Read moreJanuary 27, 2015 1:07 pm
On Tuesday morning Facebook Incs social networking website went offline for nearly an hour after what the company said was the introduction of an update. Facebooks chat and dating applications, Aim and Tinder, were also down alongside with its photo-sharing website Instagram. Services that allow customers to use their social networks information to login onto […]
Read moreJanuary 27, 2015 11:06 am
Swedish telecom Ericsson announced on Tuesday lower-than-expected results as sales in the fourth quarter were hurt by a slowdown in its North American operations. Ericsson, the worlds largest producer of mobile network equipment, reported a 5% decline in sales in North America. The company said mobile operators in the region changed their priorities from building […]
Read moreJanuary 27, 2015 9:32 am
Microsoft Corp announced on Monday disappointing results from its core products as the technology giant shifts it focus to cloud computing. The company reported a 114% revenue increase in its commercial cloud business during the second financial quarter, boosted by strong performance of Office 365, which scored a quarter-on-quarter gain of 30% in subscribers to […]
Read moreJanuary 26, 2015 4:03 pm
AT&T announced on Monday it had agreed to acquire bankrupt NII Holdings Nextel in a $1.88 billion deal as the second-largest US mobile-phone operator pushes further into the Mexican market. Under the deal AT&T will obtain all of NIIs properties in Mexico, including spectrum licenses, network assets and retail stores, AT&T said in statement. However, […]
Read moreJanuary 26, 2015 2:28 pm
Japanese trading house Marubeni Corp reduced its full-year net profit projections by a half on Monday citing write-downs caused by plunging commodities prices. Japans fifth-largest trading company said it now expects net profit for the financial year ending March 31 to stand at ¥110 billion, half of what it had initially projected last May. Marubeni […]
Read moreJanuary 26, 2015 1:00 pm
Axis Capital Holdings and PartnerRe announced on Sunday they have reached a $11-billion merger agreement to form one of the worlds biggest reinsurers. The new entity will rank within top five of the worlds largest reinsurers, with over $10 billion in gross premiums and $33 billion of invested assets and cash. The company would compete […]
Read moreJanuary 26, 2015 11:07 am
Aer Lingus Group Plc is weighting a higher takeover offer from British Airways owner, valuing the Irish company at €1.36 billion. The Dublin-based company confirmed on Monday that International Airlines Group has made a third takeover proposal. The deal includes a cash payment of €2.50 per share and a dividend of €0.05 a share, IAGs […]
Read moreJanuary 26, 2015 9:32 am
Two European pension funds wrote a letter for Oracle Corp, including concerns over the companys compensation structure and the boards inability to communicate with shareholders. Else Bos and Chris Hitchen, CEOs of Netherlands PGGM N.V. and Railways Pension Trustee Company Ltd, one of the biggest pension funds in the UK, respectively, have requested a meeting […]
Read moreJanuary 25, 2015 8:44 am
American Airlines Inc. is being sued by a mechanics union, which accused the worlds largest airline of pressuring workers into breaching federal safety procedures. Americans maintenance directors allegedly forced workers to disregard maintenance discrepancies in order to keep airplanes in revenue service and deviate from federally-mandated maintenance procedures. The initial accusations were filed during the […]
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