January 14, 2015 8:20 am
Canadas Goldcorp Inc, the biggest gold miner by market value, warned late Monday that it might take an impairment charge of up to $2.7 billion on its Cerro Negro mine in Argentina due to unfavorable fiscal conditions in the country. The Vancouver-based company said the post-tax asset write-down would be recorded in the fourth quarter, […]
Read moreJanuary 13, 2015 3:08 pm
Boeing Co. was reported to have managed to deliver more planes than its major rival Airbus Group NV last year, which helped it keep the title of the worlds largest plane manufacturer for a third consecutive year. The increased number of deliveries was supported by the accelerated production of its newest jet 787 Dreamliner. Boeing […]
Read moreJanuary 13, 2015 3:00 pm
United Continental Holdings said on Monday that it was considering to outsource as many as 2 000 jobs across US airports as a part of a cost-cutting plan. The Chicago-based company said that the move will affect around 28 airports, including Atlanta, Miami, St. Louis and West Palm Beach, and it will target workers involved […]
Read moreJanuary 13, 2015 1:07 pm
General Motors Co unveiled on Monday the concept of its new plug-in Chevrolet Bolt, marking the companys push into the electric vehicle market. The vehicle is different for GMs Chevrolet Volt as it does not future a gasoline generator to extend travel range. The all-electric car has a 200-mile range on a single charge, a […]
Read moreJanuary 13, 2015 10:24 am
The founding family of Hyundai Motor Group, the fifth-biggest auto manufacturer in the world, failed to sell a stake in a logistics affiliate, impairing chairman Chung Mong-koos plans to hand control of the conglomerate over to his son. According to a person with knowledge of the matter, the Chairman of Hyundai Motor Co. and his […]
Read moreJanuary 13, 2015 9:30 am
A group of second-lien bondholders of Caesars Entertainment Corp are trying to push the casinos core operating unit into bankruptcy after it failed to deliver interest payments. In December Caesars Entertainment Operating Co defaulted on $225 million in interests due on $4.5 billion in second-lien notes. The move prompted the group, including Oaktree Capital Management, […]
Read moreJanuary 13, 2015 9:29 am
The biggest aluminum producer in the U.S. – Alcoa Inc. – announced better-than-expected earnings and sales over the fourth fiscal quarter due to rising demand for the metal from the auto and aerospace industries. The Chief Executive Officer of the company – Mr. Klaus Kleinfeld – shared that the regional premiums that are paid for […]
Read moreJanuary 13, 2015 8:58 am
According to a person familiar with the situation, who asked not to be named because the negotiations are still private, Royal Bank of Scotland Group Plc is considering a sale of a major part of its Asia-Pacific business. The person reported that RBS Chief Executive Officer, Ross McEwan, was scheduled to have several meetings in […]
Read moreJanuary 12, 2015 3:10 pm
Discount retailer Family Dollar asked its shareholders on Monday to vote in favor of the $8.5 billion takeover offer from smaller rival Dollar Tree, despite the higher bid from Dollar General. In a letter to shareholders, Family dollar said that Dollar General’s offer is unlikely to get approved by the Federal Trade Commission, while the […]
Read moreJanuary 12, 2015 1:07 pm
US solar power developer SunEdinson plans to create Indias largest solar-panel facility in a joint venture with domestic conglomerate Adani Enterprises. The factory will be located in the western state of Gujarat and the two parties will invest as much as $4 billion in the building process. The project is estimated to be completed by […]
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