October 28, 2014 9:49 am
Royal Dutch Shell Plc, which has spent eight years and invested $6 billion in oil search in the Arctic’s Beaufort and Chukchi seas, is asking the Obama administration to provide it with five more years for oil exploitation of the Alaskas coast. The company also said that difficulties and legal delays may push the drilling […]
Read moreOctober 28, 2014 8:06 am
Twitter Inc. made an official statement today that its user growth declined for another straight quarter. This put a lot of pressure on the companys Chief Executive Officer, Dick Costolo, who needs to make Twitter attractive to more customers and advertisers, and also led to a sell-off in the stock. Mr. Costolo said during an […]
Read moreOctober 27, 2014 4:15 pm
Merck & Co Inc. stated a fall in third-quarter revenues and narrowed its projection for full-year performance. Meanwhile, the company said that its new cancer medicine won a breakthrough therapy designation from the FDA. The second-largest U.S. drug maker reported a 4% drop in revenue to $10.577 billion in the third quarter from $11.032 billion […]
Read moreOctober 27, 2014 3:45 pm
Chiquita Brands International Inc. revealed that it reached an agreement to be purchased by Brazils Cutrale Group and Safra Group. The deal is estimated to about $681 million in cash. Cutrale Group and Safra Group said in a statement, cited by Bloomberg: “It has impressive brand loyalty and recognition through its Chiquita and Fresh Express […]
Read moreOctober 27, 2014 2:58 pm
Valeant Pharmaceuticals International Inc. said in an official statement that it is prepared to raise its acquisition offer for Allergan Inc. According to the statement, Valeant is ready to offer at least $200 per share in order to get the support of Allergans board. The Chief Executive Officer of the company, J. Michael Pearson, said […]
Read moreOctober 27, 2014 2:52 pm
Canon Inc. raised its profit projection for the year, regardless of falling sales, as a weaker yen and cost cuts made up for falling camera demand. The company reported a 4.5% decrease in sales to ¥872 208 million, down from ¥913 149 million last year, including a 9.4% fall in imaging system sales which include […]
Read moreOctober 27, 2014 1:48 pm
Saab AB revealed in a statement that it sealed a contract with Brazil for development and production of 36 Gripen NG jets. The deal is estimated to SEK 39.3 billion ($5.4 billion) and comes after Saab has lost such a transaction with Switzerland. The Chairman of the Sweden-based company, Marcus Wallenberg, said in the statement, […]
Read moreOctober 27, 2014 12:40 pm
Shire PLC stated a record increase in sales and raised its full-year projection, shortly after AbbVie Inc. officially withdrew its takeover offer. The bio-pharmaceutical researcher said its pullback from the deal was largely due to changes in the U.S. tax system. These measures taken by the American government were previously pointed at as dealbreakers, like […]
Read moreOctober 27, 2014 10:28 am
TNT Express NV made an official statement today, which revealed a third-quarter loss at a time when the company is taking restructuring measures. The performance of the company over the quarter was also affected by investigations over alleged anti-competitive practices in France, which led to extra expenses to cover the €50-million charge. The Chief Financial […]
Read moreOctober 27, 2014 9:27 am
A person familiar with the situation reported that Hewlett-Packard Co. is trying to sell part of its networking subsidiary called H3C Technologies Co. The person, who asked not to be named because the process is still not public, said that HP intends to dispose of about 51% of its stake in the networking business and […]
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