February 27, 2015 9:27 am
International Business Machines Corp is looking to boost its presence in the cloud amid sluggish sales in its core businesses as the company announced elevated spending in the fast-growing segment. The company said on Thursday it would invest $4 billion of its planned spending into “strategic imperatives” of cloud, analytics, mobile, social and security technologies. […]
Read moreFebruary 26, 2015 4:05 pm
Volvo reported a healthy increase in operating profit on Thursday as sales in China and Europe more than offset lower volumes in the U.S. The Swedish vehicle manufacturer reported operating profit of 2.2 billion kronor in 2014, up 17.4% compared to last years results SEK of 1.92 billion. Over the period the company delivered 10% […]
Read moreFebruary 26, 2015 2:32 pm
Samsung Electronic Co announced on Thursday it intends to freeze the salaries of its employees based in South Korea as the smartphone maker struggles to cope with rising competition from Apple and low-cost Chinese rivals. The technology giant said the freeze, its first in six years, is a part of a cost-cutting plan aimed at […]
Read moreFebruary 26, 2015 1:04 pm
General Motors Co is set to discontinue manufacturing operations in Indonesia, retreating from one of the fastest developing markets in Southeast Asia, after more than 70 years in the country. The largest US car maker is expected to close its only plant in Indonesia at Bekasi, leaving around 500 people without jobs. The facility is […]
Read moreFebruary 26, 2015 10:56 am
Royal Bank of Scotland reported its seventh annual net loss on Thursday and said it will exit some markets in the year ahead as the state-backed bank focuses on its operations in Britain. For the twelve months of 2014 the company reported a net loss of £3.47 billion, significantly lower that the £9-billion loss it […]
Read moreFebruary 26, 2015 9:34 am
Google Inc launched its new work-related initiative on Wednesday and announced it had reached an agreement with Blackberry to improve security on Android devices. Android for Work was officially released yesterday following its introduction last June at Google I/O. The software would allow companies, which provide Android phones to their employees, to keep an eye […]
Read moreFebruary 25, 2015 4:00 pm
Target Corp reported fourth-quarter profit above expectations on Wednesday boosted by better-than-expected holiday sales and projected slight increase in first-quarter earnings. Excluding certain items, the Minneapolis-based retailer reported per-share profit of $1.50 during the three months ended January 31 compared to earnings per share of $1.31 a year earlier. The figure came in above the […]
Read moreFebruary 25, 2015 2:23 pm
Dollar Tree Inc announced a surge in sales on Wednesday driven by a robust holiday demand as the retailer warned of weaker performance in the year ahead. The company reported a revenue of $2.48 billion for the three months ended January 31, up 10.8% compared to the $2.23 billion stated a year earlier. Dollar tree […]
Read moreFebruary 25, 2015 1:15 pm
Denmarks A.P. Møller – Mærsk A/S announced a plan to divest its stake in Danske Bank on Wednesday as the shipping and oil conglomerate redirects its efforts to its core business. The countrys largest company said that due to mounting shareholder requests Maersk will sell its 20.05% stake in Denmarks biggest lender. The company said […]
Read moreFebruary 25, 2015 10:52 am
Hewlett-Packard Co reported on Tuesday quarterly performance below expectations and warned that the stronger US dollar will dent full-year results as the personal computer maker prepares to divide itself. The Palo Alto, California-based company stated a revenue of $26.84 billion for the three months ended January 31 compared to a result of $28.40 billion a […]
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