February 19, 2015 9:29 am
Barrick Gold Corp announced on Wednesday it plans to reduce its net debt by more than $3 billion by the of this year, party by disposing of two of its mines. The worlds largest gold producer said it intends to start a process to sell its Cowal mine in Australia and the Porgera joint-venture between […]
Read moreFebruary 18, 2015 4:06 pm
Actavis Plc announced a wider loss on Wednesday but projected higher earnings in the year ahead on estimations of robust demand for its new products. The company reported a net loss of $732.9 million, or $2.76 a share, for the three months ended December 31 compared with $148.4 million below the zero mark in the […]
Read moreFebruary 18, 2015 2:27 pm
Carlsberg A/S announced changes at the helm as the worlds fourth-biggest brewer projected lower profit in the year ahead on problems in Russia and Ukraine. Chief Executive Jorgen Buhl Rasmussen will step down from the lead position and be replaced by Cees ’t Hart, marking the first non-Danish CEO since the company was established in […]
Read moreFebruary 18, 2015 1:10 pm
HSBC Holdings Plcs private bank offices were searched by authorities on Wednesday as a part of an investigation over allegations of money laundering. Genevas public prosecutor said in a statement that it have launched an investigation in relation to the recent “public disclosures”. The raid began early on Wednesday and it was led by Attorney […]
Read moreFebruary 18, 2015 11:09 am
Alibaba Group Holding Ltd is again challenging rival Tencent, this time for control over the “red packets” that Chinese people usually exchange on special occasions, including the Lunar New Year. Last year Tencent introduced an application that enables its users to send virtual red envelopes to loved ones as the company attempted to upgrade the […]
Read moreFebruary 18, 2015 9:33 am
Sony Corp unveiled on Wednesday a mid-term strategy aimed at boosting earnings over the next three years as the company focuses on entertainment, games and image sensors. The Tokyo-based company projected to reach an operating profit of ¥500 billion in the fiscal year ending March 31, 2018. The figure compares with an estimate for this […]
Read moreFebruary 17, 2015 4:01 pm
Goodyear Tire & Rubber Co reported on Tuesday a significant increase in quarterly profit driven by a one-time tax benefit, which made up for lower European sales amid warmer winter. Net income for the three months stood at $2.13 billion, or $7.68 a share, compared with a profit of $228 million ,or $0.84 a share, […]
Read moreFebruary 17, 2015 2:19 pm
TNT Express NV swung to a loss in the fourth quarter and projected tougher competition in its major markets to persist during the year ahead. The Dutch logistics company reported net loss of €137 million in the three months to December compared to a positive result of €32 million a year ago. Operating performance stood […]
Read moreFebruary 17, 2015 1:05 pm
Orange SA projected on Tuesday lower earnings in the year ahead as the telecoms operator faces severe competition at home, but promised to keep its dividend stable via cost reductions. Europes largest mobile operator estimated it would deliver between €11.9 billion and €12.1 billion in earnings before interest, taxes, depreciation and amortization during 2015. However, […]
Read moreFebruary 17, 2015 10:58 am
Kering SA reported annual results in line with expectations as robust performance from the groups smaller luxury brands made up for lower demand of its core product line ups. Net income increased substantially from €49.6 million in 2013 to €528.9 million in the past year, despite poor financial performance of its two main brands, Puma […]
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