September 1, 2014 11:40 am
According to a person with knowledge of the matter, Apple Inc. intends to turn its iPhone into a mobile wallet thanks to the collaboration with major payment networks, banks and retailers. The person, who asked not to be named, because the negotiations are still not public, reported that Visa Inc., American Express Co. and MasterCard […]
Read moreSeptember 1, 2014 10:27 am
Novartis AG, the worlds leading drug maker by revenue, saw its stock reach a new all-time high today, after the company announced stunningly successful test results of its new heart failure drug. The announcement at the European Society of Cardiology congress in Barcelona on Saturday revealed the widely anticipated success of the largest heart failure […]
Read moreSeptember 1, 2014 9:28 am
Heineken NV, which is currently the third-biggest brewer in the world, revealed in an official statement today that it reached an agreement to sell its packaging operations in Mexico to Crown Holdings Inc. The price of the deal, which is expected to be finalized by the end of the year and is pending regulatory approval, […]
Read moreSeptember 1, 2014 8:36 am
Spains third-biggest bank by market value – CaixaBank SA reached an agreement with Barclays Plc to acquire its Spanish banking operations. Barclays confirmed in an official statement the sale of its retail banking, wealth and investment management, as well as corporate banking operations located in Spain. The deal, estimated to about €800 million ($1.1 billion) […]
Read moreSeptember 1, 2014 7:35 am
Samsung Heavy Industries Co., the third-biggest shipbuilder in the world, is to merge with Samsung Engineering Co. by the end of the year in a deal estimated at about 2.5 trillion won (~$2.5bn). The move comes as the Samsung conglomerate, or chaebol, is restructuring major businesses in light of new Korean chaebol regulation and a […]
Read moreAugust 30, 2014 6:54 am
Tencent Holdings Ltd, which is currently the biggest listed technology company in Asia, will collaborate with real estate giant Dalian Wanda Group and the biggest Chinese search engine – Baidu Inc to tap Chinas vast e-commerce market. The companies are joining forces in a $814-million e-commerce joint venture to challenge Alibaba Group Holding Ltd, which […]
Read moreAugust 29, 2014 12:59 pm
Telefonica SA, the world’s sixth-largest mobile network provider, said that Vivendi had elected to begin exclusive talks with the company over Telefonicas $9.8bn bid to acquire GVT, Vivendis Brazilian arm. The mostly-cash acquisition bid of Telefonica was favored by Vivendi over Telecom Italias offer of “relevance and quality.” Vivendi SA described the offer of Telefonica […]
Read moreAugust 29, 2014 12:18 pm
Fiat SpA said in a statement today that it will spend less than the initially planned limit it had set to purchase shares from investors, who wanted to sell their stake before the company finalizes its merger with Chrysler Group LLC. The Italian car manufacturer said that the final amount of withdrawal rights is to […]
Read moreAugust 29, 2014 9:50 am
The South African food and goods retailer Massmart Holdings Ltd, majority-owned by Wal-Mart Stores Inc., cautioned of difficulties next year, as consumer spending was hurt by higher interest rates and prices. Missmart Holdings reported a 26% decline in its profit over the first half ended June 29th. According to Missmarts statement, its profit over the […]
Read moreAugust 29, 2014 8:36 am
Tesco Plc, the biggest retailer in the UK, warned that it expects full-year profit to decline, and cut dividend by 75%, sending shares plummeting. The company also hastened the appointment of its new CEO, Dave Lewis. “The business continues to face a number of uncertainties, including market conditions and the pace at which benefits from […]
Read more