March 5, 2015 9:18 am
AbbVie Inc. announced it will purchase Pharmacyclics and its blockbuster cancer drug Imbruvica for about $21 million as the Chicago-based company looks to strengthened its presence in oncology. In a statement issued late Wednesday, AbbVie said it had agreed to pay $261.25 for each share of Pharmacyclics, following the approval of both boards of directors. […]
Read moreMarch 4, 2015 3:34 pm
Citigroup Inc. reached an agreement to sell its OneMain financial arm to Springleaf Holdings Inc. in a $4.25-billion cash deal, creating the largest US subprime lender. The transaction is expected to be finalized in the third quarter of the fiscal year and is subject to approval by US regulatory authorities. According to Citigroup, the disposal […]
Read moreMarch 4, 2015 2:19 pm
Toyota Motor Corp. announced the unprecedented appointment of a French national as executive vice president, while also naming its first female and African-American managing officers in a push to diversify senior ranks mainly comprised of Japanese men. According the companys statement, Toyota Europes current head who has been serving at the position for half a […]
Read moreMarch 3, 2015 2:42 pm
Glencore Plc reported on Tuesday results above expectations as robust performance of its commodities trading operations offset the slide in prices. The miner and commodity trader stated an adjusted net income of $4.29 billion for in 2014, down 7% compared to the previous year but better than the $4.08 billion average projection of the 18 […]
Read moreMarch 2, 2015 2:26 pm
RWE AG, Germanys second-biggest utility, announced on Monday it has completed the sale of its oil and gas production unit RWE Dea AG to an energy-investment fund led by Russian billionaire Mikhail Fridman. The controversial deal, estimated at €5.1 billion based on current exchange rates, confirmed information of a planned agreement released on Sunday, ending […]
Read moreMarch 2, 2015 10:47 am
HTC Corp announced on Sunday its partnership with game developer Valve aimed at delivering a virtual reality device by the end of the year. During the Mobile World Congress in Barcelona, the two companies announced their plan to compete in the high-technology market of the future and challenge companies like Google, Facebook, Sony and Samsung […]
Read moreMarch 1, 2015 1:06 pm
The worlds biggest chemical manufacturer – BASF SE – reported on Friday that fourth-quarter profit beat analysts projections, driven by strong performance in the chemicals division and lower oil prices. According to the companys statement, earnings before interest, tax and one-time items rose by 2.8% to €1.46 billion ($1.64 million), topping analysts forecasts of €1.38 […]
Read moreFebruary 28, 2015 9:53 am
The biggest mortgage lender in the U.K.- Lloyds Banking Group Plc – announced on Friday that it will resume dividend payments after reporting the first full-year profit since its 2008 government bailout. According to the companys statement, net profit amounted to £1.5 billion ($2.3 billion) in 2014, compared to a loss of £838 million a […]
Read moreFebruary 27, 2015 1:52 pm
International Airlines Group reported a significant increase in net profit on Friday and lifted its full-year profit guidance. Operating profit before exceptional items came in at €1.39 billion in the past year compared to a result of €770 million in the prior period, Europes third-largest airline group said in a statement. IAG, owner of British […]
Read moreFebruary 27, 2015 11:03 am
Airbus Group NV reported a significant boost to annual profit on Friday as Europe’s biggest plane maker outlined its intentions to increase production of its A320 aircraft. The company reported a 59% jump in net profit for the past year to €2.34 billion, or €2.99 a share, compared to the €1.47 billion, or €1.86 a […]
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