January 13, 2015 9:30 am
A group of second-lien bondholders of Caesars Entertainment Corp are trying to push the casinos core operating unit into bankruptcy after it failed to deliver interest payments. In December Caesars Entertainment Operating Co defaulted on $225 million in interests due on $4.5 billion in second-lien notes. The move prompted the group, including Oaktree Capital Management, […]
Read moreJanuary 13, 2015 9:29 am
The biggest aluminum producer in the U.S. – Alcoa Inc. – announced better-than-expected earnings and sales over the fourth fiscal quarter due to rising demand for the metal from the auto and aerospace industries. The Chief Executive Officer of the company – Mr. Klaus Kleinfeld – shared that the regional premiums that are paid for […]
Read moreJanuary 13, 2015 8:58 am
According to a person familiar with the situation, who asked not to be named because the negotiations are still private, Royal Bank of Scotland Group Plc is considering a sale of a major part of its Asia-Pacific business. The person reported that RBS Chief Executive Officer, Ross McEwan, was scheduled to have several meetings in […]
Read moreJanuary 12, 2015 3:10 pm
Discount retailer Family Dollar asked its shareholders on Monday to vote in favor of the $8.5 billion takeover offer from smaller rival Dollar Tree, despite the higher bid from Dollar General. In a letter to shareholders, Family dollar said that Dollar General’s offer is unlikely to get approved by the Federal Trade Commission, while the […]
Read moreJanuary 12, 2015 1:07 pm
US solar power developer SunEdinson plans to create Indias largest solar-panel facility in a joint venture with domestic conglomerate Adani Enterprises. The factory will be located in the western state of Gujarat and the two parties will invest as much as $4 billion in the building process. The project is estimated to be completed by […]
Read moreJanuary 12, 2015 10:40 am
Roche Holding AG agreed to acquire a majority stake in Foundation Medicine Inc for more than $1 billion, increasing its presence in cancer treatment. The Swiss drugmaker said on Monday that it will enter a strategic collaboration with Foundation by purchasing as much as 56.3% in the Cambridge, Massachusetts-based company. Roche will initiate a tender […]
Read moreJanuary 12, 2015 10:37 am
Volkswagen AG announced that it managed to deliver more than 10 million vehicles in 2014, marking the accomplishment of an annual sales goal four years earlier than the company initially planned, thanks to stable growth in China. The Germany-based company has set an objective to become the largest auto manufacturer by sales by 2018, while […]
Read moreJanuary 12, 2015 9:01 am
The third-biggest drug manufacturer in the U.K., Shire Plc, said in an official statement that it reached an agreement to acquire NPS Pharmaceuticals Inc. at the price of $5.2 billion. The purchase is considered part of the companys efforts to expand its products range for medicines used to treat rare diseases. The Chief Executive Officer […]
Read moreJanuary 11, 2015 9:47 am
AbbVie Inc. revealed in an official statement that it expects a steep jump in earnings for the new year, largely driven by the launch of its new hepatitis C drug and strong sales of its rheumatoid-arthritis drug Humira. Generic competition for its older treatments, however, will drag on the results. According to its statement, AbbVie […]
Read moreJanuary 10, 2015 11:08 am
Infosys Ltd, Indias second-biggest software exporter, revealed in a statement that its profit over the third fiscal quarter surpassed analysts forecasts as the company attracted new customers under the lead of its new CEO. Infosys said that net income rose by 13% to INR32.5 billion ($521 million) in the quarter ended December 31st, compared to […]
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