March 17, 2014 10:15 am
RWE AG, which is the second-largest German electricity and gas company by market value, made an official statement, saying that it has reached an agreement to sell its Dea oil and gas exploration unit to Russian billionaire Mikhail Fridmans LetterOne Energy in a deal amounting to 5.1 billion euros (7.1 billion dollars) including debt. The […]
Read moreMarch 17, 2014 9:30 am
The largest auto manufacturer in the world – Toyota Motor Corp. made an official statement, saying that it is ceasing its production in India after it reached a deadlock with union employees over wages. The operations of two auto assembly plants in India, which are located near Bangalore, have been suspended as Toyota failed to […]
Read moreMarch 17, 2014 8:26 am
People with knowledge of the matter, who asked not to be identified because the financial details of the deal are not public yet, reported that Vodafone Group Plc has reached an agreement to acquire Grupo Corporativo Ono SA, which is a Spanish cable operator. The deal is said to be estimated to 7.2 billion euros […]
Read moreMarch 16, 2014 10:07 am
Emaar Properties PJSC (EMAAR), the company that built the highest skyscraper in the world, announced it projects to raise up to $2.45 billion in a public offering of a 25% stake in shopping malls and retail business. The builder is profiting from tourism and the boom in Dubai’s retail sector, while the number of visitors […]
Read moreMarch 15, 2014 9:38 am
Chinese messaging service Weibo, which closely resembles Twitter, became the latest Chinese Internet company to tap US markets as the company, owned by Sina Corp, filed on Friday to raise $500 million via a US initial public offering. It follows the example of search service Baidu and its own corporate parent, Alibaba, which recently announced […]
Read moreMarch 14, 2014 2:21 pm
General Electric Co. revealed that it intends to sell a part of its credit-card unit in an initial public offering due to increased investor interest towards the card business. Currently the companys Synchrony Financial credit-card unit is considered the biggest issuer of credit cards in the names of retailers and other partners on the territory […]
Read moreMarch 14, 2014 12:47 pm
The client-focused financial services company UBS AG announced that the compensation of its Chief Executive Officer Sergio Ermotti was increased by 21% to 10.73 million Swiss francs (12.3 million dollars) in 2013. Different compensation and benefits were included in the 8.23 million francs Mr. Ermotti got, and his salary was said to be 2.5 million […]
Read moreMarch 14, 2014 10:03 am
The bidding war over Vivendi SAs phone unit SFR between Bouygues SA and Altice SA seems to be heating up after Arnaud Montebourg, who is the French Industry Minister, said that according to him Vivendi SA prefers the offer of Altice SA cable holding. Mr. Montebourg said in an interview for Europe1 radio station, which […]
Read moreMarch 14, 2014 9:16 am
The largest restaurant chain in the world – McDonalds Corp. – is facing lawsuits by its employees in three states in the U.S. – Michigan, California and New York. The company and its franchises are being accused of systematic wage theft, and the suits were filed yesterday by the lawyers of the companys workers. McDonalds […]
Read moreMarch 14, 2014 8:24 am
An agreement has been reached between BP Plc, which is the third-largest oil company in Europe, and the U.S. Environmental Protection Agency. The accord puts an end to a ban the oil and gas company received over doing business with the federal government. After the Deepwater Horizon rig explosion in 2010 and the oil spill […]
Read more