March 20, 2017 10:04 am
According to Reuters, citing government documents, Germany intends to purchase six C-130J military transport planes from Lockheed Martin Corporation (LMT) at an approximate value of EUR 900 million under a joint agreement with France. The German government is to formally request procurement of the jets in 2019. At the same time, France has already submitted […]
Read moreMarch 20, 2017 8:18 am
In a speech at a forum in Beijing on March 18th, Apple CEO Tim Cook supported globalization and noted that China should continue developing economic relations with foreign companies. Cook’s remarks came amid growing tension between the United States and China, as US President Trump’s statements in favor of protectionism heightened concerns over a trade […]
Read moreMarch 17, 2017 10:00 am
In early March three of Caterpillars facilities in Illinois were searched by US law enforcement officials in an Internal Revenue Service investigation in regard to profits generated by Caterpillar SARL, a Swiss parts unit. In relation with the probe of Caterpillar Incs (CAT) import and export practices, the manufacturer was reported to have sought the […]
Read moreMarch 17, 2017 8:39 am
On March 15th NASDAQ-listed camera maker GoPro said it intended to reduce its workforce by 270 in order to cut operating expenditures and return to profit. The positions affected are full-time jobs and openings. GoPro shares closed higher for a second straight trading session on Thursday, while also marking their largest daily surge since April […]
Read moreMarch 16, 2017 10:16 am
According to a March 15th statement by General Motors Company (GM), 500 assembly plant workers in Michigan, who are expected to be laid off this May, will be rehired in 2018 due to sound demand for larger vehicles. Last week it was announced that 1 100 workers at the auto makers Lansing Delta Township plant […]
Read moreMarch 16, 2017 8:39 am
According to a March 15th proxy filing by Bank of America, the groups shareholders are expected to conduct another vote whether Brian Moynihan, Chairman and Chief Executive Officer, should continue occupying both positions. Bank of America shares closed lower on Wednesday, while also marking their steepest daily drop since March 6th. The stock went down […]
Read moreMarch 15, 2017 9:52 am
According to a spokesperson for Audi AG (NSUG), the auto makers headquarters in Ingolstadt and factory in Neckarsulm are being searched by German prosecutors. Audi shares closed higher for a second straight trading session on Tuesday. The stock went up 0.31% (EUR 2.00) to EUR 642.00, with the intraday high and the intraday low being […]
Read moreMarch 15, 2017 8:43 am
On March 14th Mark Breitbard was appointed as Chief Executive Officer of Gap Incs (GPS) Banana Republic unit, with the retailer seeking to renovate the brand amid weak sales. Breitbard, the former CEO of childrens apparel retailer Gymboree Corp, is to assume the new role at Gap in early May. He is to replace Andi […]
Read moreMarch 14, 2017 10:09 am
Verizon Communications Inc (VZ) was reported to have obtained an almost three times lower price discount for Yahoo Inc core assets than it had expected. The deal, valued at $4.83 billion, was initially announced last July, while its closure has been delayed due to the two cyber attacks at Yahoo, which the internet company exposed […]
Read moreMarch 14, 2017 8:16 am
NASDAQ-listed tech giant Intel Corporation (INTC) was reported to have agreed to acquire Mobileye, an Israeli company providing driverless technology, in a deal valued at $15.3 billion. It would be the largest acquisition of an Israeli tech company on record, with Mobileye being valued at $63.54 per share, or a 34% premium compared to the […]
Read more