June 16, 2014 7:53 am
The second-biggest medical device and equipment manufacturer – Medtronic Inc. made a statement yesterday, revealing that it agreed to acquire Covidien Plc in a cash-and-stock deal estimated at about 42.9 billion. The deal will allow Medtronic to make use of lower tax base, avoiding higher US corporate taxes. According to a joint statement made by […]
Read moreJune 15, 2014 8:28 am
UK shares recorded the largest drop in two months on Friday, as the Chancellor of the Exchequer, George Osborne, promised that Bank of England will be allowed to use new measures in order to curb mortgage lending in the country. In addition, central banks Governor Mark Carney said that a rate hike was possible sooner […]
Read moreJune 14, 2014 9:35 am
General Motors, the biggest US car manufacturer, has conducted a yet another wave of recalls after it found that it needs to fix the key design on more than half a million Chevrolet Camaros. While trying to resolve a recall of 2.59 million older cars due to faulty ignition switches linked to 13 deaths, GM […]
Read moreJune 13, 2014 1:39 pm
Toronto-listed Amaya Gaming Group has agreed to purchase Rational Group Ltd, an Isle of Man-based business which owns the worlds largest online poker site, PokerStars, for $4.9 billion in cash. Rationals Chief Executive Officer and owner of 75% of the business Mark Scheinberg, who pioneered the online wagering business together with his father Isai Scheinberg, […]
Read moreJune 13, 2014 12:22 pm
Amazon.com Inc. launched its long-awaited ad-free music streaming service on Thursday, intensifying the competition against Spotify, Pandora and Apple. Prime Music offers about 1 million songs from thousands of albums for Amazons US-based Prime subscribers, who pay $99 per year for the subscription bundle which includes next-day delivery and other perks. Non-Prime customers will not […]
Read moreJune 13, 2014 9:36 am
Ford Motor Co., the second-largest US car manufacturer, reduced the fuel-economy estimates for six of its vehicles, including all of its hybrids, and promised to reimburse about 200 000 car owners. The company announced that the largest change in fuel efficiency values received the Lincoln MKZ hybrid, whose combined city and highway fuel economy was […]
Read moreJune 13, 2014 8:29 am
Premium electric car maker Tesla Motors announced yesterday it will allow competitors to use its proprietary technology “in good faith” for free as an attempt to push electric car development. Billionaire entrepreneur Elon Musk, Teslas Chief Executive Officer, took the unprecedented step yesterday of opening the car makers patent vault, hoping it would bring down […]
Read moreJune 13, 2014 7:09 am
Intel Corp., the worlds largest semiconductor manufacturer, raised its second-quarter revenue forecast and projected 2014 sales will jump for the first time since 2011 as businesses replace ageing machines. Intels shares marked a minor advance in New York on Thursday but surged 6.6% to $29.80 in extended trading after the announcement. The chip maker increased […]
Read moreJune 12, 2014 1:45 pm
Facebook Inc. published a blog post today, revealing that it will allow users to see the reason why they receive certain advertisements in the News Feeds of their accounts in the social network. The company believes that such a feature would prove out to be beneficial because it will provide users with the opportunity to […]
Read moreJune 12, 2014 11:47 am
The U.K. luxury bag manufacturer Mulberry Group Plc, which is currently operating without a Chief Executive Officer and Creative Director, made an official statement today, posting a second consecutive annual earnings decline due to decreasing third-party sales both at its home market and in the Asian market. Ms. Helen Norris, who is one of the […]
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