October 2, 2014 9:16 am
Hyundai Motor Co. reached a tentative deal with its unionized workers in South Korea following a close vote in favor of a proposed payment raise, putting an end to walkouts which may cost the company more than $800 million in lost output. Union spokesman Hwang Ki Tae announced that the long-expected settlement between labor representatives […]
Read moreOctober 2, 2014 8:24 am
Coca-Cola Co. gave in to investor pressure and agreed to curb a senior-executive compensation plan which was categorized as “excessive” by Warren Buffet and faced criticism by other large shareholders. “Coca-Cola has finally conceded that the equity compensation plan it put to a vote of shareholders in April was outrageously excessive and inconsistent with past […]
Read moreOctober 2, 2014 7:02 am
The second-biggest beverage maker in the world – PepsiCo Inc. – is launching a new stevia-sweetened fizzy drink through Amazon that will contain 30% less calories compared to conventional sodas. “American consumers want to make sure they don’t compromise taste,” Simon Lowden, Pepsi’s chief marketing officer for North American beverages, said in a phone interview, […]
Read moreOctober 1, 2014 3:28 pm
A federal judge ruled out on Tuesday that JPMorgan Chase and Co. must face a class action lawsuit by investors, who claimed that they were misled about the risk of $10 billion of mortgage-backed securities, which were sold before the beginning of the financial crisis. U.S. District Judge J. Paul Oetken said that investors claims […]
Read moreOctober 1, 2014 2:24 pm
Chrysler Group LLC, owned by Fiat SpA, reported on Wednesday that sales in the United States rose by 19% in September from a year earlier, its third consecutive month of double-digit growth in the region. An equal jump in sales registered by Nissan Motor Co. showed the industry kept on pushing forward amid high customer […]
Read moreOctober 1, 2014 2:02 pm
Tesco Plc is being investigated by the Financial Conduct Authority, UKs financial watchdog, after the company overstated its profit for the first six months of the year, the agency said, sending Tescos stock plummeting. The UK-based grocer nodded about the regulators probe, after it suspended four of its executives in light of its latest earnings […]
Read moreOctober 1, 2014 12:47 pm
The second-biggest sporting-goods manufacturer – Adidas AG announced today that it plans to launch a €1.5-billion ($1.9 billion) buyback program spanning three years as part of the companys attempt to soothe investor anxiety. According to the information shared in the companys statement, the three-year buyback plan is planned to start in the fourth quarter of […]
Read moreOctober 1, 2014 10:38 am
Amazon.com Inc. seems to be approaching a settlement over an almost two-month long disagreement with Walt Disney Co. Over the period of the dispute, Amazon stopped offering the pre-order option for Disney DVDs amid a discord over prices, promotions on Amazons website and other issues. The issue was first faced in early August 2014, placing […]
Read moreOctober 1, 2014 9:50 am
The European Commission found out in its latest crackdown on tax avoidance that the deal which was granted to Apple Inc. by Ireland tax authorities failed to comply to international guidelines, which could result in the company paying considerable sums in back taxes. Yesterday, the European Union released documents that explain why it has decided […]
Read moreOctober 1, 2014 8:18 am
Microsoft Corp. finally revealed some details about its newest operating system at an event in San Francisco. The new Windows 10, as it will be called, has some new features such as added security and a custom applications store. It is primarily focused on attracting business users, who pretty much avoided the previous version of […]
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