October 7, 2014 9:12 am
Facebook Inc. managed to finally close its acquisition deal of WhatsApp Messenger, which turned out to be more expensive than it was originally planned. The deal, which received approval by European regulatory authorities last week, is considered the largest acquisition of Facebook to date. The U.S.-based social network said in a statement, which was cited […]
Read moreOctober 7, 2014 8:45 am
Glencore Plc approached Rio Tinto Plc with a merger proposal in July 2014, which would have been one of the largest deals in the history of mining industry, but Rio Tintos board rebuffed the acquisition offer and has not been in contact with the company since early August. Rio Tinto said in a statement, which […]
Read moreOctober 7, 2014 7:20 am
Samsung Electronics Co. Ltd reported in a regulatory filing today the largest decline in its quarterly profits in half a decade as sales in both the high and low-end smartphone segments were dented by the fierce rivalry of Apple Inc. and Chinese competitors. The South Korean company said that its operating profit declined by 60% […]
Read moreOctober 6, 2014 2:47 pm
A person with knowledge of the situation, the biggest mortgage provider in the U.K. – Lloyds Banking Group Plc is planning to cut thousands of jobs, which is considered to be the most significant round of job cuts in at least three years. This is not the first time when the U.K.-based banking group is […]
Read moreOctober 6, 2014 1:31 pm
The second-biggest oil and gas manufacturer in the U.S. – Chevron Corp. announced that it reached an agreement to sell a 30% stake of a Canada-based joint venture at the price of $1.5 billion to a subsidiary of Kuwait Foreign Petroleum Co. The proceeds of the sale are to be used for financing the companys […]
Read moreOctober 6, 2014 12:45 pm
According to a notice to customers published on its website, the movie-streaming venture of Verizon Communications Inc. and Outerwall Inc. – Redbox Instant – will be shut down on October 7th. Rosemary Moothart, Outerwall vice president of investor relations, wrote in an e-mailed statement that the partners in the venture made the decision of shutting […]
Read moreOctober 6, 2014 9:30 am
Tesco Plc revealed in an official statement today that it appointed Mr. Richard Cousins and Mr. Mikael Ohlsson as new members of its board. The transition is to take effect on November 1st. The step is considered part of the companys strategy to strengthen its board at a time when it is dealing with investigations […]
Read moreOctober 6, 2014 9:03 am
According to a person familiar with the situation, the Chief Executive Officer of Hewlett-Packard Co. – Ms. Meg Whitman intends to separate the companys personal-computer and printer units from its enterprise hardware and service business, a move she rejected last year. People close to the companys plans shared that Hewlett-Packard will officially announce the spin-off […]
Read moreOctober 6, 2014 8:20 am
Samsung Electronics Co. Ltd announced that it will invest KRW15.6-trillion ($15-billion) in building a chip plant located in South Korea. The plant, which will be able to make both memory and processor chips, is considered a part of the companys strategy to seek growth in other industries apart from the saturated smartphone segment. The Chief […]
Read moreOctober 4, 2014 10:41 am
HTC Corp. reported a second-straight quarterly profit on Friday, reversing a heavy loss from a year earlier, but extended a three-year sales decline amid fierce competition in both the low and high-end smartphone segments. According to the companys statement, its preliminary net income during the three months ended September 30th was NT$640 million ($21 million), […]
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