November 28, 2014 3:30 pm
ThyssenKrupp AG unveiled a design for the worlds first cable-free elevator that utilizes magnets and can move in both horizontal and vertical line. Describing its creation as the “holy grail of the elevator industry”, the German steel and technology conglomerate said the new system would enable multiple elevators to use the same shaft. The implemented […]
Read moreNovember 28, 2014 1:43 pm
Rio Tinto Plc, the world’s second-biggest mining company, has not detoured from its plan to deliver increased dividends, after it rebuffed a takeover offer earlier this year from Glencore. The company, one of the leading iron ore producers, also announced it deferred plans to invest in Australias Silvergrass mine until “at least the third quarter […]
Read moreNovember 28, 2014 12:28 pm
The second-biggest oil producer on the territory of Russia, NK Lukoil OAO, said that its project in Iraq, called West Qurna-2 is starting to pay off. According to the companys statement, the project has helped the Russia-based company add $1.25 billion to its earnings during the third quarter of the fiscal year. The beneficial impact […]
Read moreNovember 28, 2014 12:17 pm
Germanys biggest power utility E.ON SE has agreed to sell its Spanish operations to Australian infrastructure investor Macquarie Group and Kuwait’s sovereign-wealth fund. Under a plan to withdraw its operations from Southern Europe’s electricity market, E.ON has agreed to sell 60% of its Spanish assets to Macquarie and 40% to Wren House Infrastructure Management, which […]
Read moreNovember 28, 2014 8:54 am
Uber Technologies Inc. has been forced to temporarily suspend its service in Nevada because of a state court ruling, marking the first statewide ban, which the company has faced in the U.S. A preliminary injunction was issued by the court and prevented the U.S.-based company from its statewide operations across the state. The injunction was […]
Read moreNovember 28, 2014 8:39 am
U.K.-based Mulberry Group Plc said in an official statement that it appointed Johnny Coca at the position of Creative Director. The companys choice puts an end to a long search for a worthy replacement for its British designer Emma Hill. The Chairman of the company, Godfrey Davis, said in a statement, cited by Bloomberg, that […]
Read moreNovember 27, 2014 3:54 pm
Rio Tinto Plc, the world’s second-biggest mining company, approved a $350-million expansion of a diamond mine in Canada, outlining the companys confidence in future growth of demand for the gemstones. The move shows reinvigorated interest in the Diavik mine. Rio Tinto tried to dispose of the unit, but abandoned the plan last year after it […]
Read moreNovember 27, 2014 2:28 pm
The largest retailer in the world, Wal-Mart Stores Inc., revealed that 30 of its senior executives in China were dismissed due to a major restructuring in Asia. The reorganization changes include store closures on the territory of Japan and management shifts in India. The companys spokesman in China, Ray Bracy, said in an e-mailed reply […]
Read moreNovember 27, 2014 2:23 pm
Toyota Motor Corp said it has launched a global vehicle recall in order to change the potentially dangerous air bags produced by Takata Corp. The Japanese car manufacturer said it would pull back around 57 000 vehicles equipped with Takata-made airbags, as safety issues related to ruptured air bag inflators are far from over. Since […]
Read moreNovember 27, 2014 12:38 pm
SABMiller and Coca-Cola are teaming up to create the biggest bottling operator in Africa in order to get a better grasp on the continents beverage market. SABMiller, the worlds second-largest brewer by volume, has previously shown interest in Africa and described it as the most promising long-term growth market. Should the deal be completed, SABMiller […]
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