December 3, 2014 3:55 pm
Bayerische Motoren Werke AGs Chinese dealerships challenged the German car manufacturers sales target and said it was too optimistic, citing sluggish growth in the worlds biggest vehicle market. Dealers located in China are asking for a bigger cash rebate from BMW, while also claiming that the carmaker has set up a too high sales target, […]
Read moreDecember 3, 2014 3:00 pm
The Japan-based airbag producer and supplier Takata Corp. is currently facing the anger of the car safety regulatory authorities in the U.S. after the company rejected their demand to expand its air-bag withdrawals and make them not only regional, but also country-wide. Deputy Administrator David Friedman revealed in an e-mailed announcement that the companys response […]
Read moreDecember 3, 2014 1:48 pm
Morgan Stanley took over the $4.8-billion stake sale in Ping An Insurance, after a last-minute bold steal from Goldman Sachs and Credit Suisse. Ping An was discussing the deal with Credit Suisse and Goldman Sachs at first, but changed its mind by Sunday afternoon when the two banks were noted that the placement was given to […]
Read moreDecember 3, 2014 12:07 pm
Apple Incs ex-CEO Steve Jobs renovated the way people enjoyed music with the iPod, but now the deceased co-founder of Apple is being accused of leading the company into a violation of antitrust laws. Mr. Jobs has allegedly upgraded the software of the iPods, so the device would not be capable of playing songs from […]
Read moreDecember 3, 2014 10:32 am
Deutsche Lufthansa AG revealed that the pilot strike, which started on December 1st, will be staged once more on Thursday – December 4th, only two days after the end of the previous one. The strike that was carried out earlier this week affected around 150 000 passengers by leading to the cancellation of about 1 […]
Read moreDecember 3, 2014 8:33 am
The third-biggest wireless carrier in the U.S., Sprint Corp., is entering a fierce price war with its major competitors Verizon Communications Inc. and AT&T Inc., as it revealed its intentions to reduce customer bills by 50% for those clients, who switch to its services from the carriers larger rivals. The U.S.-based company also said that […]
Read moreDecember 2, 2014 3:55 pm
Cypress Semiconductor Corp is buying Spansion Inc in a $1.59-billion stock deal in order to create a company that will manufacture memory chips utilized in many consumer and business technologies. After the deal is completed the new company is set to become the biggest supplier of chips for embedded systems.It will combine Cypress expertise in […]
Read moreDecember 2, 2014 1:52 pm
Japans Otsuka Holdings Co Ltd reached a deal to purchase Avanir Pharmaceuticals for around $3.5 billion, marking it as the companys second big US acquisition in slightly over a year. The agreement for the unprofitable Avanir comes as the drugmaker is looking to increase its portfolio of products, including treatments for Alzheimer’s, Parkinson’s and migraines, […]
Read moreDecember 2, 2014 11:02 am
Aviva Plc, Britains second-biggest insurance company by market value, has agreed to acquire Friends Life in an all-stock deal, marking the biggest takeover in 15 years among UK insurers. Aviva, which last month announced it was in talks with its smaller rival, values each Friends Life share at 0.74 new Aviva shares, or 394 pence, […]
Read moreDecember 2, 2014 10:25 am
Wal-Mart Stores Inc. said that it plans to cut 250 positions in China in an attempt to improve its efficiency. A spokesman of the U.S.-based company, Ray Bracy, said in a phone interview today that the lay-offs will be mainly in the companys merchandising and marketing units. Mr. Bracy said in a statement, cited by […]
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