September 23, 2014 1:59 pm
Hyundai Motor Co., the biggest car manufacturer in South Korea, earned wide condemnation, reflected heavily in the stock, last week, by spending almost $10bn on a real estate asset, set to become its new HQ. The price tag was about three times the perceived value of the property, and the move drew heavy criticism from […]
Read moreSeptember 23, 2014 1:34 pm
Raiffeisen Bank International AG, the second-biggest bank operating in Eastern Europe, fell the most in three years after projecting its first annual loss due to surging bad-debt provisions. According to a statement by the banks Chief Executive Officer Mr. Karl Sevelda, Raiffeisens loss may widen to between €50 million ($64 million) and €500 million. He […]
Read moreSeptember 23, 2014 11:59 am
According to people familiar with the matter, Allergan Inc. has renewed negotiations over the acquisition of Salix Pharmaceuticals Ltd, which first started in July, as it seeks to fend off a hostile takeover bid from Valeant Pharmaceuticals International Inc. The acquisition of Salix, if finalized, is likely to be valued at more than $10 billion […]
Read moreSeptember 23, 2014 9:18 am
Philips Electronics revealed in an official statement today that its Chief Executive Officer Mr. Frans van Houten intends to split the companys operations in two new companies. This step will allow Philips to prepare its lighting unit for a future as an independent entity, while the rest of the company will focus on its health-care […]
Read moreSeptember 23, 2014 8:03 am
Apple Inc. managed to sell a record number of iPhones over the first weekend after its two new flagship models were released. The company said in an official statement that its iPhone sales rose to a record of more than 10 million and beat the 9 million units sold by the company in 2013 after […]
Read moreSeptember 23, 2014 7:18 am
Tesco Plc started a probe over accounting practices and suspended four of its senior executives, including the chief of its operations in the U.K., after an employee signaled an overstatement of the companys first-half profit. Independent outside auditors and legal counsel were called in order to investigate an overstatement of the projections amounting to £250 […]
Read moreSeptember 22, 2014 8:59 am
After breaking the record for biggest US IPO, Alibaba Group Holding Ltd.s listing now ranks as the worlds biggest in history at $25 billion as underwriters exercised an option to sell additional shares amid sky-high investor interest. The overallotment was first reported by the Wall Street Journal. During Alibabas debut on Friday, shares failed to […]
Read moreSeptember 20, 2014 11:00 am
According to people with knowledge of the matter, the biggest engineering company in Europe – Siemens AG – is considering to make an offer estimated to more than $6.5 billion for Dresser-Rand Group Inc. that could outgun an earlier bid by rival Sulzer AG. One of the people, who asked not to be identified because […]
Read moreSeptember 19, 2014 3:02 pm
Alibaba Group Holding, the leading online retailer in the world, began its stock-trading history with an instant and massive 31% jump in value, after NYSE market officials had upped Alibabas valuation on account of a surge in demand, with an indicated median price of $89.00 per share by 15:01 GMT. Many analysts expect underwriters to […]
Read moreSeptember 19, 2014 1:55 pm
Royal Bank of Scotland Group Plc shared in an official statement today that it abandoned plans to relocate its headquarters to England in case Scots voted “Yes” in their referendum for full independence. RBS, which is based in Edinburgh, was not the only bank which said this week it would move its head office to […]
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