September 8, 2014 12:40 pm
FMC Corp. revealed in a statement today that it reached an agreement to acquire the Danish fungicide-ingredient manufacturer Cheminova in a deal estimated to $1.8 billion. According to FMCs statement, the acquisition will be financed through a mixture of debt and existing cash. The deal is expected to be finalized in early 2015. Cheminova is […]
Read moreSeptember 8, 2014 9:59 am
The largest auto manufacturer in Europe – Volkswagen AG said that it will halt production at its plant situated in Kaluga, Russia for a period of 10 days due to the countrys weakening economy. According to the companys statement, the falling Russian rouble and declining real wages are some of the reasons why the Kaluga […]
Read moreSeptember 8, 2014 8:36 am
Electrolux AB revealed in a statement today that it reached an agreement with General Electric Co. over the acquisition of its home-appliances division. The deal, the companys largest takeover so far, is estimated at $3.3 billion in cash and is to add brands such as Hotpoint and GE Monogram to Electrolux portfolio. The purchase “strengthens […]
Read moreSeptember 8, 2014 8:03 am
The biggest auto manufacturer in the U.S. – General Motors Co. revealed that it plans to launch a hands-free driving Cadillac model within two years. The Chief Executive Officer of the company Ms. Mary Barra explained in a speech at the Intelligent Transport System World Congress in Detroit that the 2017 Cadillac model will feature […]
Read moreSeptember 7, 2014 6:50 am
Britain’s leading equity index closed the week for a sizable gain, despite logging a drop on Friday, as confidence in a speedy EU recovery and growth in the UK and US led investors to more stocks. FTSE 100 was down 0.33% to close at 6 855.10 points on Friday, logging only the second daily drop […]
Read moreSeptember 6, 2014 9:49 am
A panel of U.S. regulators recommended that MetLife Inc. should be designated a systemic risk to the financial system. Such a decision is to subject the company – the largest life insurer by assets in the country, to tighter oversight by the Federal Reserve. “MetLife strongly disagrees” with the Financial Stability Oversight Council’s move today, […]
Read moreSeptember 5, 2014 12:31 pm
Cisco Systems Inc., the biggest networking-equipment maker in the world, revealed two new lines of servers on Thursday, as demand for the companys machines grows at a 30% annual rate. The San Jose, California-based tech giant revealed one mainstream server, the M-series, which is aimed at conventional telecoms and ISPs, and an “all-in-one” machine, the […]
Read moreSeptember 5, 2014 12:16 pm
Starbucks Corp, the worlds biggest coffee-shop chain, is seeking to bolster its competitiveness by opening two new types of stores, one aimed at tapping the rising demand for upscale reserve coffee, while the other will be oriented towards on-the-go customers. In order to appeal to the more demanding and deep-pocketed coffee consumers, the company plans […]
Read moreSeptember 5, 2014 11:41 am
Daimler AG, the third-biggest luxury cars manufacturer in the world, reported a significant rise in monthly sales of its premium Mercedes-Benz brand, keeping on track to log a record sales figure this year. The Stuttgart-based manufacturer reported an increase of 9.7% on an annual basis in worldwide sales to 118 887 in August, also logging […]
Read moreSeptember 5, 2014 9:23 am
Deutsche Lufthansa AG shared that a pilot strike planned for this evening will result in cancellation of some flights from as early as 1:30 p.m. Frankfurt time and many more from 4 p.m. According to the companys statement, the strike will affect more than 200 flights in Germany and Europe and about 25 000 passengers. […]
Read more