October 31, 2014 9:07 am
Citigroup Inc. set aside $600 million in provisions to cover legal expenses related to an ongoing investigation over allegations that the bank manipulated the currency market. The bank said it is in negotiation talks with UK regulators, while cooperating with criminal and antitrust investigations by the Justice Department. Citigroup is one of the six banks […]
Read moreOctober 31, 2014 7:54 am
Time Warner Cable Inc lost more TV customers than analysts had expected in the third quarter as more users signed up for online streaming services while the company awaits approval to merge with Comcast Corp. Time Warner, the second largest U.S cable TV operator, reported a decrease of 184 000 net customers during Q3, an […]
Read moreOctober 30, 2014 2:59 pm
Lenovo Group said on Thursday it has closed the acquisition deal with Google Inc., as the worlds largest personal-computer maker tries to boost global sales, which were surpassed by rival Xiaomi Corp. Lenovo, which first announced its interest in Motorola in January, plans pull the company above water within the first four to six quarters […]
Read moreOctober 30, 2014 2:02 pm
Barclays PLC has set aside £500 million to cover costs associated with the ongoing investigations into manipulating the foreign exchange market as the company reported an increase in its third quarter profits. Barclays is one of the six banks in negotiations with UK regulators over the accusations of manipulation of the currency market. The banks […]
Read moreOctober 30, 2014 12:16 pm
BT group raised its dividend payout as profit increased due to higher demand for broadband services. The British telecoms group reached 2.5 million customers of its fibre broadband as 203 000 people signed up for the high speed internet connection in the second quarter. BT reported around 38 000 users signed up for its TV […]
Read moreOctober 30, 2014 10:05 am
Visa inc. beat analysts expectations on profit in the fourth quarter of the business year, as the company welcomed Chinas plans to open up its markets. Visa reported revenue of $3.23 billion, compared with last years result of $2.97 billion, with an operating income of $1.55 billion. Net income was $1.07 billion, compared to last […]
Read moreOctober 30, 2014 9:05 am
Samsung Electronics Co. Ltd reported the smallest quarterly earnings since 2011 as the giant faces increased competition from lower-cost Chinese rivals and Apple Incs new iPhones. Earlier this month the company warned about weak performance in the third quarter. On Thursday, the worlds biggest technology company by sales reported operating profit of KRW 4.06 trillion, […]
Read moreOctober 29, 2014 4:07 pm
LG Electronics Inc. reported a significant rise in operating profit for the third-quarter, beating analysts expectations thanks to increased smartphone sales. LG reported revenue of KRW 14.92 trillion in the third quarter, a 7.4% increase compared to a year earlier, which led to more than doubled operating profit of KRW 461 billion and a 87% […]
Read moreOctober 29, 2014 3:49 pm
Fiat Chrysler Automobiles NV intends to spin off Ferrari. This step is to give the luxury sports-car manufacturer independence from its less-profitable parent company. The Chief Executive Officer of the company, Sergio Marchionne, said in a statement, cited by the Financial Times: “As we move forward to secure the 2014-2018 Business Plan and work toward […]
Read moreOctober 29, 2014 3:07 pm
The research lab of Google Inc. announced that it is working on a nanoparticle technology, which could be used in the near future. The technology includes small magnetic particles, which are meant to check the human body for any signs of cancer and other diseases. As reported by Bloomberg, the head of Googles life sciences […]
Read more