September 23, 2014 7:18 am
Tesco Plc started a probe over accounting practices and suspended four of its senior executives, including the chief of its operations in the U.K., after an employee signaled an overstatement of the companys first-half profit. Independent outside auditors and legal counsel were called in order to investigate an overstatement of the projections amounting to £250 […]
Read moreSeptember 22, 2014 8:59 am
After breaking the record for biggest US IPO, Alibaba Group Holding Ltd.s listing now ranks as the worlds biggest in history at $25 billion as underwriters exercised an option to sell additional shares amid sky-high investor interest. The overallotment was first reported by the Wall Street Journal. During Alibabas debut on Friday, shares failed to […]
Read moreSeptember 20, 2014 11:00 am
According to people with knowledge of the matter, the biggest engineering company in Europe – Siemens AG – is considering to make an offer estimated to more than $6.5 billion for Dresser-Rand Group Inc. that could outgun an earlier bid by rival Sulzer AG. One of the people, who asked not to be identified because […]
Read moreSeptember 19, 2014 3:02 pm
Alibaba Group Holding, the leading online retailer in the world, began its stock-trading history with an instant and massive 31% jump in value, after NYSE market officials had upped Alibabas valuation on account of a surge in demand, with an indicated median price of $89.00 per share by 15:01 GMT. Many analysts expect underwriters to […]
Read moreSeptember 19, 2014 1:55 pm
Royal Bank of Scotland Group Plc shared in an official statement today that it abandoned plans to relocate its headquarters to England in case Scots voted “Yes” in their referendum for full independence. RBS, which is based in Edinburgh, was not the only bank which said this week it would move its head office to […]
Read moreSeptember 19, 2014 1:45 pm
Alibaba Group Holding, the leading online retailer in the world, begins its stock-trading history today, with the launch of its Initial Public Offering on the New York Stock Exchange. Market officials expect the stock to become available to the public withing a few hours of opening, as the massive amount of orders need time to […]
Read moreSeptember 19, 2014 12:51 pm
GlaxoSmithKline Plc was imposed a fine of £297 million ($489 million) and a top executive received a suspended sentence, for bribing doctors in China, ending a 15-month investigation. “Reaching a conclusion in the investigation of our Chinese business is important, but this has been a deeply disappointing matter for GSK,” Chief Executive Officer Andrew Witty […]
Read moreSeptember 19, 2014 10:19 am
Vivendi SA shared in an official statement today that it agreed to sell its Brazilian broadband division GVT to Telefonica SA in a €7.24-billion ($9.3-billion) deal. The acquisition is made up of both cash and stakes in two other telecoms companies. The acquisition was approved by Vivendis board, but it is still subject to approval […]
Read moreSeptember 19, 2014 9:04 am
German business-management software giant SAP SE said it reached an agreement over the acquisition of Concur Technologies Inc. in a push to boost its cloud-computing operations. “The acquisition of Concur is consistent with our relentless focus on the business network,” said Bill McDermott, SAP chief executive, in the companys statement. “We are making a bold […]
Read moreSeptember 19, 2014 7:28 am
Home Depot Inc. revealed in an official statement that about 56 million credit and debit cards were subject to data breach in the period from April to September 2014. The hacker attack exceeded the scale of the one against Target Corp. in 2013. The companys Chairman and Chief Executive Officer Mr. Frank Blake apologized for […]
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