December 2, 2014 3:55 pm
Cypress Semiconductor Corp is buying Spansion Inc in a $1.59-billion stock deal in order to create a company that will manufacture memory chips utilized in many consumer and business technologies. After the deal is completed the new company is set to become the biggest supplier of chips for embedded systems.It will combine Cypress expertise in […]
Read moreDecember 2, 2014 1:52 pm
Japans Otsuka Holdings Co Ltd reached a deal to purchase Avanir Pharmaceuticals for around $3.5 billion, marking it as the companys second big US acquisition in slightly over a year. The agreement for the unprofitable Avanir comes as the drugmaker is looking to increase its portfolio of products, including treatments for Alzheimer’s, Parkinson’s and migraines, […]
Read moreDecember 2, 2014 11:02 am
Aviva Plc, Britains second-biggest insurance company by market value, has agreed to acquire Friends Life in an all-stock deal, marking the biggest takeover in 15 years among UK insurers. Aviva, which last month announced it was in talks with its smaller rival, values each Friends Life share at 0.74 new Aviva shares, or 394 pence, […]
Read moreDecember 2, 2014 10:25 am
Wal-Mart Stores Inc. said that it plans to cut 250 positions in China in an attempt to improve its efficiency. A spokesman of the U.S.-based company, Ray Bracy, said in a phone interview today that the lay-offs will be mainly in the companys merchandising and marketing units. Mr. Bracy said in a statement, cited by […]
Read moreDecember 2, 2014 8:57 am
Intel Corp., the biggest chip manufacturer, said in a statement that it bought Canada-based startup PasswordBox Inc to boost its Internet security offerings at a time when customers are becoming more concerned about their personal data in the light of recent breaches. The acquisition took immediate effect. As reported by eWeek, the senior vice president […]
Read moreDecember 2, 2014 8:26 am
The Chief Executive Officer of Tesco Plc, Dave Lewis, is to take control of the domestic business of the company. The U.K.-based retailer has been faced with difficulties, including overstated earnings forecasts. The change in Mr. Lewis responsibilities is scheduled to take effect in January 2015. The company said in a post on its website […]
Read moreDecember 1, 2014 3:18 pm
A coalition of companies warned in a new ad that online retail giants, like Alibaba Group Holding Ltd, will “decimate” local retailers unless Congress passes a bill to prevent online buyers from avoiding sales tax. The ad from a campaign group, including companies like Target, Best Buy, Home Depot and JC Penney, threatened Alibaba and […]
Read moreDecember 1, 2014 2:52 pm
Samsung Group revealed its annual management changes at its divisions today. The group said that its top executives at Samsung Electronics Co. will be left intact at their current positions, as the company has recently been trying to swing back to profit again. Claire Kim, an analyst at Daisin Securities Co., commented on the companys […]
Read moreDecember 1, 2014 1:39 pm
Sony Pictures Entertainment has asked the Federal Bureau of Investigation to look into the illegal upload of several of its movies after they were stolen by hackers. The release of the pirated movies comes after Sonys computer network was compromised last Monday and went down, but not before displaying a red skull and the phrase […]
Read moreDecember 1, 2014 12:19 pm
E.ON SE, Germanys biggest utility by market value, said it would split into two companies, spinning off its fossil fuel and nuclear generation power plants into a new company while turning its attention to renewable energy sources. The new publicly listed company would consist of E.ONs conventional generation, global energy trading, and exploration and production […]
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