February 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 […]
Read moreFebruary 17, 2015 9:30 am
Rolls-Royce Holding Plc said on Monday it will co-operate with Brazilian authorities should they chose to approach the company over the allegations of bribery in the country. Rolls-Royce paid bribes through an agent in order to win a $100 million contract with Petrobras, according to a testimony from a former executive of the Brazilian company. […]
Read moreFebruary 16, 2015 4:00 pm
Balfour Beatty announced on Monday it had sold a £40 million stake in its wind farm operations off the coast of Kent as a part of the struggling British infrastructure groups turnaround plan. The group said it had reached a deal with fund management company Equitix to sell 80% of its Thanet offshore transmission project. […]
Read moreFebruary 16, 2015 2:20 pm
Aer Lingus Group Plc has appointed Stephen Kavanagh to replace Christoph Mueller as chief executive as the Irish airline continues takeover negotiations with International Airlines Group. Mr. Mueller, who joined the company in 2009, announced last year that he will step down from the lead position and join Malaysia Airlines as chief executive. During his […]
Read moreFebruary 16, 2015 1:10 pm
Puma SE reported smaller net loss for the quarter as the German athletic gear maker benefited from lower costs and higher demand for its shoes. The Herzogenaurach-based company stated a net loss of €4.6 million for the three months ended December compared to a result of €115 million below the zero mark in the same […]
Read moreFebruary 16, 2015 11:09 am
Online gambling company 888 Holdings Plc said on Monday it had ended takeover talks with William Hill, the largest bookmaker in the UK, after a major shareholder did not agree with the offered price. “Due to a significant difference of opinion on value with a key stakeholder, it has not been possible to reach agreement […]
Read moreFebruary 16, 2015 9:47 am
One of LG Electronics top managers has been indicted on a charge of intentionally damaging washing machines made by rival Samsung Electronics ahead of a trade show in Germany. Jo Seong-jin, LGs head of home-appliance division, was formally accused of deliberately damaging several “Crystal Blue” washing machines by South Korean prosecutors. The high-end products, priced […]
Read moreFebruary 15, 2015 11:24 am
The biggest steel manufacturer in Germany – ThyssenKrupp AG reported a small profit for the first three months of the fiscal year and reaffirmed its 2015 guidance. According to ThyssenKrupps statement, net income over the quarter ended on December 31st amounted to €50 million, or 9 cents per share. In comparison, it posted a net […]
Read moreFebruary 14, 2015 7:57 am
The biggest commercial insurer in the U.S. and Canada – American International Group Inc. – announced plans to reduce its annual general operating expenses by 3% to 5% through 2017 after declining by 4.8% to $8.72 billion in 2014. The Chief Executive Officer of the company, who took over the position last year – Mr. […]
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