May 11, 2015 10:01 am
Troubled Japanese electronics maker Sharp Corp lost nearly $1 billion in market value on Monday after it said it may reduce its capital and issue preferred stock as part of a restructuring plan, with investors worrying about a potential dilution and other possible fund raising in the future. A person familiar with the matter who […]
Read moreMay 8, 2015 10:12 am
Swiss crop chemicals and seed producer Syngenta announced on Friday it has rejected a $45-billion acquisition proposal by US rival Monsanto Co, saying the offer undervalued the Swiss company and citing significant challenges to closing the deal. Monsanto offered CHF 449 per Syngenta share, with roughly 45% of the payment in cash. However, after a […]
Read moreMay 7, 2015 9:50 am
German engineering giant Siemens AG announced on Thursday another workforce reduction to help turn around its power and gas division and other underperforming businesses as second-quarter industrial profit dropped due to low oil prices and volatile economic conditions. Siemens said it plans to cut about 4 500 jobs worldwide, roughly 1% of the global headcount, […]
Read moreMay 5, 2015 10:11 am
Cisco Systems Inc has named Chuck Robbins, a 17-year company veteran, as successor to John Chambers atop the network equipment maker, ending Mr. Chambers two-decade reign in the midst of the cloud boom. Mr. Robbins, currently vice president of worldwide operations who has specialized in sales and relationships with business partners, will take the helm […]
Read moreMay 4, 2015 10:09 am
Australia and New Zealand Banking Group, Australias third-largest lender by market value, said on Monday it intends to sell its car and equipment finance business in order to cut its capital requirements. The unit, which has $6.5 billion worth of outstanding customer loans and represents roughly half of total assets under the broader Esanda arm, […]
Read moreMay 1, 2015 5:59 am
Oil major Royal Dutch Shell reported on Thursday better-than-expected first-quarter profit as robust downstream results helped offset a steep decline in oil and gas production earnings. The Anglo-Dutch company said profit for the first quarter on a current cost-of-supplies basis rose 14% to $4.76 billion from $4.16 billion in the last three months of 2014, […]
Read moreApril 29, 2015 8:08 am
Troubled Korean tech giant Samsung Electronics Co. continued to struggle in the three months ended March 31st as its mobile division, once its key profit driver, saw another quarter of sluggish smartphone sales, while the semiconductor division reaffirmed its role as biggest earnings contributor. Samsung reported revenue of KRW 47.12 trillion, compared to 52.73 trillion […]
Read moreApril 28, 2015 9:18 am
Oil major BP Plc suffered a sharp decline in first-quarter profit due to tumbling oil prices but strong performance at its refining unit helped cushion the effect and beat forecasts. First-quarter underlying replacement cost profit was at $2.6 billion, BP said on Tuesday, compared to $3.2 billion a year earlier, however topping the $2.2 billion […]
Read moreApril 27, 2015 9:37 am
French computer services and technology company Capgemini announced on Monday it has reached an agreement to buy US-based peer IGATE Corp for $4.04 billion, making North America its biggest market. The French company, which for some time has been aiming to expand its presence in the region, will pay $48 per IGATE share, compared to […]
Read moreApril 24, 2015 6:24 am
A local branch of Chinas competition regulator said on Thursday it has fined Daimler AGs Mercedes-Benz 350 million yuan ($56 million) for allegedly fixing prices of some models and spare parts. In the latest crackdown on a multinational company striving to tap Chinas growing markets, the eastern Jiangsu provinces price regulator said Mercedes carried out […]
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