January 26, 2015 2:28 pm
Japanese trading house Marubeni Corp reduced its full-year net profit projections by a half on Monday citing write-downs caused by plunging commodities prices. Japans fifth-largest trading company said it now expects net profit for the financial year ending March 31 to stand at ¥110 billion, half of what it had initially projected last May. Marubeni […]
Read moreJanuary 26, 2015 1:00 pm
Axis Capital Holdings and PartnerRe announced on Sunday they have reached a $11-billion merger agreement to form one of the worlds biggest reinsurers. The new entity will rank within top five of the worlds largest reinsurers, with over $10 billion in gross premiums and $33 billion of invested assets and cash. The company would compete […]
Read moreJanuary 26, 2015 11:07 am
Aer Lingus Group Plc is weighting a higher takeover offer from British Airways owner, valuing the Irish company at €1.36 billion. The Dublin-based company confirmed on Monday that International Airlines Group has made a third takeover proposal. The deal includes a cash payment of €2.50 per share and a dividend of €0.05 a share, IAGs […]
Read moreJanuary 26, 2015 9:32 am
Two European pension funds wrote a letter for Oracle Corp, including concerns over the companys compensation structure and the boards inability to communicate with shareholders. Else Bos and Chris Hitchen, CEOs of Netherlands PGGM N.V. and Railways Pension Trustee Company Ltd, one of the biggest pension funds in the UK, respectively, have requested a meeting […]
Read moreJanuary 25, 2015 8:44 am
American Airlines Inc. is being sued by a mechanics union, which accused the worlds largest airline of pressuring workers into breaching federal safety procedures. Americans maintenance directors allegedly forced workers to disregard maintenance discrepancies in order to keep airplanes in revenue service and deviate from federally-mandated maintenance procedures. The initial accusations were filed during the […]
Read moreJanuary 25, 2015 8:43 am
Ford Motor Co announced on Friday it will remove its Venezuelan operations from its future financial reports as the second-largest US car manufacturer suffers from the countrys unstable currency. Effective December 31, figures from the companys results from Venezuela will not be included in Fords financial reports, marking it as the first of the companys […]
Read moreJanuary 24, 2015 1:16 pm
Adidas AG announced on Friday the sale of its Rockport shoe business to a joint-venture of rival New Balance Athletic Shoe as the company shifts focus towards its core brands. New Balance and private-equity firm Berkshire Partners have created a new entity with the intention to purchase Rockport and merge it with New Balances existing […]
Read moreJanuary 24, 2015 11:21 am
General Electric Co., the worlds biggest supplier of heavy-duty gas turbines and jet engines, said that fourth-quarter earnings beat analysts forecasts amid strong performance at its power and aviation operations, while the oil and gas unit managed to blunt a hit by tumbling oil prices. General Electric revealed in a statement that operating profit per […]
Read moreJanuary 24, 2015 8:15 am
United Parcel Service Inc announced on Friday its fourth-quarter results were hit by higher costs and lower demand during the year-end holidays. The worlds biggest parcel delivery company, said it had spent too much on its efforts to avoid the situation in late 2013. At that time the Atlanta-based company said last-minute orders were higher […]
Read moreJanuary 23, 2015 3:46 pm
McDonalds Corp, the worlds biggest restaurant chain, stated smaller-than-anticipated drop in same-store US sales and said it would open less restaurants amid falling earnings. Sales at locations open at least 13 months slid 0.9% during the quarter ended December 31, including a 1.7% drop in comparable sales in the US. On average analysts had projected […]
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