October 22, 2014 12:44 pm
Deutsche Lufthansa AG made an official statement today that it intends to sell a stake in its information-technology unit to International Business Machines Corp. Lufthansa agreed to sign a seven-year service contract with IBM in order to cut expenses. The Chief Financial Officer of the company, Simone Menne, took a statement, cited by the Wall […]
Read moreOctober 22, 2014 11:48 am
PSA Peugeot Citroen said cash flow target is within reach two years earlier as strong demand in China contributed to a third-quarter increase of revenue. CFO Jean-Baptiste de Chatillon stated in front of journalists that Peugeot will probably hit positive operational cash flow this year, rather than in 2016 as predicted. He also added that […]
Read moreOctober 22, 2014 9:08 am
Heineken, which rejected to negotiate with SABMiller Plc in September, made an official statement on its results for the third fiscal quarter. It became clear that its sales growth during the period missed initial analysts forecasts. The Chief Executive Officer of the company, Jean-François van Boxmeer, said in a statement, cited by the Wall Street […]
Read moreOctober 22, 2014 8:12 am
Apple Inc. signed an agreement with its sapphire supplier GT Advanced Technologies to keep their previous contract a secret, after the “I” company feared information leaks. On Tuesday, an attorney for the bankrupt GT said the two companies reached an “amicable parting of the ways” pact and as part of the deal Apple has agreed […]
Read moreOctober 22, 2014 7:37 am
The Chief Executive Officer of Yahoo! Inc., Marissa Mayer, defended the turnaround strategy of the company after she was posed a challenge by the activist investor Starboard Value LP. Ms. Mayer started with a report of Yahoos earnings over the third fiscal quarter. Yahoos CEO said in an interview for Bloomberg: “Today was really a […]
Read moreOctober 21, 2014 3:12 pm
The Coca-Cola Co. the worlds largest beverage company unveiled a plan to reduce annual expenses and lowered its previous financial targets after sales missed analysts projection. Coca-Cola reported that revenue decreased to $11.98 billion in the recent quarter, compared to $12 billion last year and the $12.12 billion estimate of analysts polled by Thomson Reuters. […]
Read moreOctober 21, 2014 2:07 pm
Amazon.com and Simon & Schuster have agreed on a multiyear contract for the sale of print and digital books, as the internet retailer continues to battle Hachette. Amazon, the biggest paper and e-book supplier in the U.S., has been involved in a public dispute with another publisher, Lagardère SCA’s Hachette. The companies disagreed on e-book […]
Read moreOctober 21, 2014 1:59 pm
The largest online-only fashion retailer Asos Plc reported on its annual profit, which surprised analysts estimates. Shares of the company surged the most since late August during the London trading session, following the announcement. Jamie Merriman and Noelle Guo, analysts at Sanford C. Bernstein Ltd, commented in a report, cited by Bloomberg: “Investors will be […]
Read moreOctober 21, 2014 12:30 pm
AbbVie Inc. confirmed that its has agreed on the termination of its deal with Shire Plc, after the companys investors did not back the transaction amid proposed changes to the U.S. rules, which regulate such deals. The two companies expressed their disappointment in separate statements. As reported by Bloomberg, AbbVie said that the new rules […]
Read moreOctober 21, 2014 12:16 pm
Tata Motors Ltd.s Jaguar Land Rover opened its first overseas manufacturing unit in China in an effort to cut costs and continue its expansion. As part of the expansion, JLR opened a new manufacturing unit in Changshu, about 100 km north from Shanghai, in a joint venture with state-owned Chery Automobile. The factorys early production […]
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