September 29, 2014 8:45 am
Only one workweek after Alibaba Group Holding Ltd raised $25 billion in the worlds biggest Initial Public Offering, the Chinese e-commerce giant continued on its expansion push, giving no sign of slowing momentum. The company announced a stake purchase in a Chinese high-tech company, while also preparing to open its own private Chinese bank and […]
Read moreSeptember 28, 2014 9:43 am
According to people familiar with the situation, billionaire Masayoshi Sons SoftBank Corp. is in talks over acquiring DreamWorks Animation SKG Inc, the Hollywood studio behind the “Shrek”, “Kung Fu Panda” and “How to Train Your Dragon” films. According to the Hollywood Reporter, Jeffrey Katzenberg’s DreamWorks Animation received a bid of $3.4 billion, or $32 per […]
Read moreSeptember 27, 2014 10:30 am
BlackBerry reported on Friday that its second-quarter loss narrowed further to top analysts initial estimates, but falling revenue suggested the company is not out of the woods yet. According to BlackBerrys statement, non-GAAP net loss for the three months ended August 30th shrunk to $11 million, or 2 cents per share, beating analysts projections for […]
Read moreSeptember 26, 2014 1:18 pm
DirecTV officially announced the voting results of a shareholder meeting in New York, revealing that its investors overwhelmingly approved the sale of the company to AT&T Inc. The purchase will cost AT&T $48.5bn and according to the companys Chief Executive Officer Mike White is about to be finalised in early April 2015. According to the […]
Read moreSeptember 26, 2014 12:19 pm
The second-largest government-owned lender in the U.K. – Lloyds Banking Group Plc has decided to sell £161 million ($263 million) of shares in TSB Banking Group Plc only three months after floating a 38.5% stake in an Initial Public Offering. Lloyds explained in a statement: “The cash proceeds from the sale will be used for […]
Read moreSeptember 26, 2014 10:09 am
Hyundai Motor Co., South Koreas top car manufacturer, said in a statement today that the notorious 10.55tn won ($10bn) real estate purchase was officially approved by the companys board of directors and two of its affiliates – Hyundai Mobis Co. and Kia Motors Corp. The companies stock plunged since the news of the ludicrous purchase […]
Read moreSeptember 26, 2014 9:10 am
The biggest sports goods manufacturer in the world – Nike Inc. reported that profit in the three months ended August 31st exceeded analysts projections as sales received a boost by the FIFA World Cup tournament. The companys President and Chief Executive Officer Mr. Mark Parker said in a statement: “Fiscal year 2015 is off to […]
Read moreSeptember 26, 2014 8:10 am
Intel Corp. said in a statement on Friday that it intends to spend as much as 9 billion yuan ($1.5 billion) to acquire a stake in state-affiliated Tsinghua Unigroup Ltd in a push to gain a greater foothold in the Chinese mobile chip market. “China is now the largest consumption market for smartphones and has […]
Read moreSeptember 25, 2014 2:08 pm
BP, one of the six “oil majors”, was denied the option to pursue redress over “excessive compensation” the company paid to settle claims over the Deepwater Horizon disaster, limiting what the company could salvage from the legal debacle. As reported by the New York Times, the judge said that the earlier claims “were paid under […]
Read moreSeptember 25, 2014 1:27 pm
The worlds second-largest clothing retailer – H&M Hennes & Mauritz AB reported today that third-quarter profitability fell further and warned that higher garment costs will drag on margins through the end of the year. The company reported quarterly profit in line with expectations but unusually warm weather held back customers from renewing their autumn wardrobes, […]
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