November 24, 2014 3:53 pm
Petrofac Ltd issued a warning that its earnings will be lower than expected due to project delays, which were a result of declining oil prices. The U.K.-based company warned its investors that the difficult oil price environment is likely to affect its net profit, reducing it to $500 million in 2015. This projection is 25% […]
Read moreNovember 24, 2014 2:44 pm
BT Group Plc announced it is in talks to acquire either O2 or EE in order to expand its services and create a dominant fixed and wireless business. The London-based group said it had seen interest by shareholders in two different UK mobile operators – EE, a joint venture by Orange and Deutsche Telekom, and […]
Read moreNovember 24, 2014 1:29 pm
According to people with knowledge of the situation, Samsung Electronics Co. is considering its first major management restructure. The reorganisation plans are part of the company attempts to bring a new life to its fortunes after it faced difficulties over the year, which seriously affected not only its profitability, but also its stock price and […]
Read moreNovember 24, 2014 1:00 pm
Aviva Plc, Britains second largest insurer by market capitalization, lost nearly 5% of its value after it announced it had reached a preliminary deal to acquire rival Friends Life. Last Friday, after the trading session in London ended, Aviva announced it had reached an agreement of £5.4 billion, or GBX 398.9 a share, in an […]
Read moreNovember 24, 2014 9:08 am
The largest mining company by market value in the world – BHP Billiton Plc shared its intentions to intensify its cost-cutting and productivity strategies to help maintain its dividends at a time of falling iron ore and crude oil prices. The decision comes at a moment when the companys executives look to free up cash […]
Read moreNovember 22, 2014 9:44 am
The largest cars, vans and heavy trucks maker in Europe – Volkswagen AG – intends to expand its investments into new vehicles, technology and factories in an attempt to surpass Toyota Motor Corp. as the worlds largest auto manufacturer. The Chief Executive Officer of the company Mr. Martin Winterkorn said in a statement on Friday: […]
Read moreNovember 21, 2014 3:35 pm
Foot Locker Inc said its net income increased more than expected as the company waves its CEO goodbye. Ken Hicks, 61, announced that he would retire from its position as CEO at the end of the month and be replaced with Richard Johnson, Foot Lockers current chief operating officer. However, changes at the top of […]
Read moreNovember 21, 2014 2:16 pm
The Chief Executive Officer of Orange SA, Stephane Richard, said that the company is to consider a strategic partnership with a landline or cable provider as a part of its plan do expand its reach into broadband and TV services in the U.K. Stephane Richard said in an interview, cited by Bloomberg: “Convergence often means […]
Read moreNovember 21, 2014 1:35 pm
Hornby Plc, maker of Corgi toys, model trains and Scalextric sets, said it is back on the path to improvement, but still has a “long way to go” as the company reported a half-sized loss for the first six months of the financial year. The toymaker said losses decreased to £520 000 for the six […]
Read moreNovember 21, 2014 11:01 am
Brazils JBS SA, the world’s biggest meat producer, unveiled a plan to increase deliveries to Asia as the company acquired Primo Group, the largest ham-and-bacon producer in Australia and New Zealand. The deal will also allow JBS to produce higher-priced processed foods and market them on the Asian markets, where Primo already delivers. The move […]
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