January 2, 2014 3:00 pm
Fiat SpA announced yesterday that it would get full control of Chrysler Group LLC after finalizing a deal estimated to 4.35 billion dollars. The deal is expected to give both auto companies a chance for consolidation. The deal also assumes a value of over 10 billion dollars for Chrysler, which is a value within the […]
Read moreJanuary 2, 2014 9:45 am
As reported by the Wall Street Journal, Apple Inc. made a statement on Tuesday this week denying it worked with the National Security Agency (NSA) in order to provide the latter with a backdoor way to spy on iPhone users. The company also claims that it was not aware of the existence of any program […]
Read moreJanuary 2, 2014 8:04 am
The two largest automakers in South Korea – Huyndai Motor Co. and its affiliate Kia Motors Corp. announced they expect slowest sales growth in almost a decade during 2014. On the other hand, the competition between them and their Japanese rivals, which benefit from a weaker yen, is becoming more fierce than ever. The companies […]
Read moreJanuary 2, 2014 7:43 am
In the past year a few brave investors scored huge, market-beating wins. That includes a trader who made more than $100 million from a $10 million bet against gold. A hedge fund that gained 42% after a bullish wager on stocks. A firm that saw returns of 48% thanks in part to soaring Japanese stocks. […]
Read moreDecember 31, 2013 11:06 am
The Dow Jones Industrial Average rose, reaching an all-time closing high and headed toward its biggest annual gain since 1996. The Dow added 26 points, or 0.2%, to 16504, setting a record for the 51st time this year. The index has climbed in nine of the past 11 sessions. The S&P 500 fell less than […]
Read moreDecember 30, 2013 12:33 pm
U.S. stock-index futures remained almost unchanged, after the Standard & Poor’s 500 Index advanced for a second week, heading toward its biggest annual gain since 1997. Futures on the Standard & Poor’s 500 Index expiring in March fell less than 0.1% to 1,836.30 at 12:04 p.m. in London. The S&P 500 climbed to a record […]
Read moreDecember 30, 2013 9:53 am
Sanofi missed US regulatory approval for its multiple sclerosis drug Lemtrada, as the company’s ambitions of capturing a larger share of the $20 billion market for the disease, evaporated. The US Food and Drug Administration said Sanofi’s Genzyme unit didnt submit evidence from “adequate and well-controlled studies” showing that the benefits of Lemtrada outweigh its […]
Read moreDecember 30, 2013 8:43 am
Walmart’s international expansion of its Sam’s Club chain, which in China targets increasingly rich customers in the country’s largest cities, is a key part of the US retailer’s strategy to offset stagnant sales in its home market. This is part of Walmart’s efforts to accelerate its business in China, where it has had a poor […]
Read moreDecember 30, 2013 7:49 am
Audi’s flagship car showroom in London seems empty at a first glance and one may conclude it needs a few more cars inside. A single two-seater R8 Spyder sports car, the brand’s most exclusive model, sits alone in the shop’s window. Instead of half a dozen other cars wedged in around the store as would […]
Read moreDecember 29, 2013 12:55 pm
General Motors Cos China joint venture will recall close to 1.5 million vehicles due to a defect with the fuel pump brackets, in one of the largest safety recalls in the worlds biggest auto market. Right after the news was released, GM shares slipped 1.4%. Analysts said the issue hasnt resulted in any known accidents […]
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