October 28, 2014 4:06 pm
Lloyds Banking Group Plc. reported an increase in third-quarter profit as it confirmed a cost-cutting plan, two days after it almost failed ECBs stress test. On Tuesday Lloyds stated an underlying profit of £2.16 billion for the three months ended September 30, compared with £1.52 billion last year. Underlying net profit was £693 million, compared […]
Read moreOctober 28, 2014 2:55 pm
The third-biggest auto manufacturer on the territory of Japan, Honda Motor Co., posted its annual profit forecast for the year through in March 2015. The company said its profit is expected to fall by 1.6% to reach ¥565 billion ($5.2 billion). Honda revised down its projection made in April, which forecast a profit of ¥600 […]
Read moreOctober 28, 2014 2:12 pm
The third-biggest oil producer on the territory of Europe, BP Plc, reported a third-quarter profit, that exceeded initial analysts estimates. The result is probably due to the underlying production increase and refining margins improvement. The companys Chief Executive Officer, Bob Dudley, said in BPs statement, cited by Bloomberg: “BP’s operational momentum continues to deliver results.” […]
Read moreOctober 28, 2014 1:59 pm
Standard Chartered Plcs CEO Peter Sands announced $400 million in cost cuts during 2015 as the company reported a decrease in Q3 profit, extending bad performance through the year. Mr. Sands, who has been under heavy fire from investors over the companys poor results, said measures were being taken to get the bank “back to […]
Read moreOctober 28, 2014 12:17 pm
The Japan-based telecommunications company Softbank Corp. revealed in a statement today that it is to make a $627-million investment in the Indian e-retailer Snapdeal.com in order to expand its reach on the constantly growing online market in the country. The company also said that its Internet and Media Inc. business is to invest additional $210 […]
Read moreOctober 28, 2014 11:00 am
Apple Inc CEO Tim Cook said reports of retailers not accepting Apple Pay are not of much concern, as the new technology has already become the largest mobile payment service. Mr. Cook said that there were reports of customers using Apples settling system in CVS Health Corp. and Rite Aid Corp.s stores, although neither of […]
Read moreOctober 28, 2014 9:49 am
Royal Dutch Shell Plc, which has spent eight years and invested $6 billion in oil search in the Arctic’s Beaufort and Chukchi seas, is asking the Obama administration to provide it with five more years for oil exploitation of the Alaskas coast. The company also said that difficulties and legal delays may push the drilling […]
Read moreOctober 28, 2014 8:06 am
Twitter Inc. made an official statement today that its user growth declined for another straight quarter. This put a lot of pressure on the companys Chief Executive Officer, Dick Costolo, who needs to make Twitter attractive to more customers and advertisers, and also led to a sell-off in the stock. Mr. Costolo said during an […]
Read moreOctober 27, 2014 4:15 pm
Merck & Co Inc. stated a fall in third-quarter revenues and narrowed its projection for full-year performance. Meanwhile, the company said that its new cancer medicine won a breakthrough therapy designation from the FDA. The second-largest U.S. drug maker reported a 4% drop in revenue to $10.577 billion in the third quarter from $11.032 billion […]
Read moreOctober 27, 2014 3:45 pm
Chiquita Brands International Inc. revealed that it reached an agreement to be purchased by Brazils Cutrale Group and Safra Group. The deal is estimated to about $681 million in cash. Cutrale Group and Safra Group said in a statement, cited by Bloomberg: “It has impressive brand loyalty and recognition through its Chiquita and Fresh Express […]
Read more