August 5, 2014 12:49 pm
The largest luxury auto manufacturer in the world – Bayerische Motoren Werke AG (BMW) made an official statement today, posting the highest profitability from car manufacturing in three years. The upbeat result was tied to increasing demand in China and a larger number of customers attracted by the X5 sport-utility vehicle, the company said in […]
Read moreAugust 5, 2014 9:40 am
Hewlett-Packard Co. accused the former Autonomy Chief Executive Officer Mr. Mike Lynch in fraud and explained that it is also preparing to sue Autonomys ex Chief Financial Officer Mr. Sushovan Hussain. The executives of Autonomy and Hewlett-Packard have been attacking each other over the causes of the $8.8 billion writedown taken by HP Co. a […]
Read moreAugust 5, 2014 8:42 am
American International Group Inc. made an official statement yesterday, posting a 13% jump in second-quarter profit on a gain tied to the divestiture of an aircraft-leasing division. According to the statement of American International Group Inc., its net income increased from 2.73 billion dollars, or 1.84 dollars per share over the same period last year, […]
Read moreAugust 5, 2014 8:09 am
LinkedIn Corp., which is currently the biggest professional social-networking company in the world, revealed in a statement that it agrred to pay 6 million dollars in unpaid wages and damages to a total of 359 current and ex employees of the company in Illinois, New York, California and Nebraska. The administrator of the Department of […]
Read moreAugust 5, 2014 7:55 am
Roche Holding AG made an official statement, revealing that it is to acquire the privately held Danish biopharmaceutical company Santaris Pharma in a deal valued at up to 450 million dollars. Roche also announced that the acquisition would give it access to a series of drugs for diseases that have proved hard to treat. Mr. […]
Read moreAugust 4, 2014 2:25 pm
Russia-based OAO Aeroflot made an e-mailed statement yesterday, saying that it suspended the flights of its low-cost division because of some sanctions, which were imposed to the company by the European Union as punishment over the crisis in Ukraine. According to the statement of OAO Aeroflot, which is a state-run flag carrier, servicing, insurance and […]
Read moreAugust 4, 2014 1:36 pm
McDonalds Corp., which is currently the biggest restaurant chain by sales in the world, made an official statement today, revealing that it intends to resume the sale of beef and chicken burgers in some Chinese cities. The company suspended the sale of some of its products two weeks ago, after one of its main suppliers […]
Read moreAugust 4, 2014 1:17 pm
HSBC Holdings PLC, Europe’s biggest bank, reported declining profits for the first half of 2014 earlier today. The company highlighted the growing regulatory pressure has made its staff more “risk averse”, eroding earnings in a “risk-managing business”. Revenue for the first half was down 9% on an annual basis to $31.17 billion, while pretax profits […]
Read moreAugust 4, 2014 11:25 am
KKR & Co. and Rhone Capital LLC increased their bid for Treasury Wine Estates (TWE) Ltd by 11% to 3.4 billion Australian dollars (3.2 billion dollars). TWE, which is the worlds second-largest listed winemaker, rejected the previous offer of the two American US equity private funds. Treasury Wine Estates Ltd made an official statement today, […]
Read moreAugust 4, 2014 9:33 am
The central bank of Portugal was reported to have taken control of Banco Espirito Santo SA, which used to be the biggest bank by market value in the country. Banco Espirito Santo SA has been divided into “good” and “bad” banks as part of a bailout that will cost 4.9 billion euros (6.6 billion dollars). […]
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