March 25, 2015 1:13 pm
Kraft Foods Group Inc announced on Wednesday that it had agreed to a merger with H.J. Heinz, which is evenly owned by 3G Capital and Berkshire Hathaway. The combined entity would be the third-largest food and beverage company in North America and the fifth-biggest in the world with around $28 billion in revenue, Kraft said […]
Read moreMarch 25, 2015 10:57 am
Austrias Raiffeisen Bank projected on Wednesday another full-year loss as the company intends to book the majority of its planned restructuring costs in the year ahead. Europes second-largest bank confirmed a loss of €493 million for the past year as previously stated in its preliminary report issued on February 9. The figure compares with a […]
Read moreMarch 25, 2015 9:37 am
HSBC Holdings Plc announced on Tuesday that will move around 1 000 jobs from London to Birmingham as the largest bank in Europe relocates its personal and business arm. The move is expected to be completed before 2019, when new laws are projected to kick in. Banks would have to separate their retail operations from […]
Read moreMarch 24, 2015 12:56 pm
Hutchison Whampoa Ltd is close to striking a deal with Telefonica to acquire its British cellphone operator O2 for around £10.25 billion. Owned by the richest man in Asia Li Ka-shing, the company intends to merge O2 with its existing mobile business Three in order to create the biggest mobile operator in Britain. According to […]
Read moreMarch 24, 2015 10:38 am
A minor shareholder of Vivendi is pushing the French media group to spin off its Universal Music Group unit and to return a total of €9 billion in the form of a special dividend. The U.S. hedge fund P. Schoenfeld Asset Management, which owns slightly less than 1% of Vivendi shares, has sent a letter […]
Read moreMarch 24, 2015 9:03 am
Sweden’s Hennes & Mauritz AB reported first-quarter profit above expectations, but the worlds second-largest fashion retailer warned that the robust dollar may dent future performance. The company stated a pre-tax profit of 4.7 billion Swedish crowns in the three months ended February 28, up from the SEK 3.49 billion reported a year ago. In comparison […]
Read moreMarch 23, 2015 1:03 pm
Tenet Healthcare Corp. announced on Monday it had agreed to a joint venture with United Surgical Partners International in order the create the largest provider of ambulatory surgery in the U.S. Tenet, the third-largest publicly traded hospital chain in the U.S., said it had reached an agreement with Welsh, Carson, Anderson & Stowe, USPIs parent, […]
Read moreMarch 23, 2015 10:46 am
Australias Village Roadshow Ltd announced on Monday it had reached a deal with Chinese investment company Citic Group to start the construction of theme parks on the mainland. The company said that after more than two years of negotiations it has inked a deal with a subsidiary of state-owned Citic to form a $500-million joint […]
Read moreMarch 23, 2015 9:31 am
All of RadioShack Corps stores may be closed down for good after Mondays bankruptcy auction if Standard General LP does not prevail in the bid war. The hedge fund, which is also a creditor of the electronics company, is the only interested party that does not intend to completely shut down RadioShack if it gets […]
Read moreMarch 20, 2015 12:51 pm
HTC Corp. announced on Friday that co-founder and chairwoman Cher Wang will take the leading role at the Taiwanese smartphone maker following three years of disappointing sales results. Effective immediately Peter Chou will step down from the helm to lead product innovation as head of HTC Future Development Lab, the company said in a statement. […]
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