August 22, 2014 8:13 am
Home Depot Inc., the biggest home improvement retailer in the world, revealed in an official statement that it has named Craig Menear to succeed Frank Blake as Chief Executive Officer, in effect November 1, while Blake will remain chairman. “It won’t be a difficult transition. Because of the knowledge [Menear] has accumulated with his time […]
Read moreAugust 21, 2014 2:27 pm
Infineon Technologies AG, Germanys largest chip manufacturer, announced that it reached agreement over the acquisition of LA-based International Rectifier Corp. for an estimated $3 billion. The Chief Executive Officer of Infineon Technologies AG Mr. Reinhard Ploss described the deal as “a unique opportunity”. “With their great knowledge of specific customer needs and their application understanding, […]
Read moreAugust 21, 2014 1:11 pm
Seattle-based Web retailer Amazon.com said on Wednesday that it plans to set up operations in Shanghais new 28 km² free-trade zone, allowing it to import merchandise in China cheaper and to better compete with e-commerce rivals Alibaba and JD.com. The company said on Wednesday it signed a deal with authorities in the free-trade zone to […]
Read moreAugust 21, 2014 12:32 pm
United Parcel Service Inc., the biggest package-shipping company in the world, said customers personal and payment data has been exposed to risk due a computer security breach at some of its retail outlets in the period between January 20 and August 11 of this year. “I understand this type of incident can be disruptive and […]
Read moreAugust 21, 2014 11:31 am
Toyota Motor Corp. made an official statement today and revealed that it intends to reduce prices of spare parts in China for its Lexus-branded vehicles. The price change will take effect in September 2014. Toyota made the decision after a Chinese antitrust probe into the auto industry, putting the company in the ranks of other […]
Read moreAugust 21, 2014 9:46 am
According to people with knowledge of the matter, Bank of America will soon announce it has agreed to a $17 billion settlement with the U.S. Department of Justice over the banks mortgage securities debacle. The agreement is to put an end to the investigation against Bank of America. The bank was accused of misleading buyers […]
Read moreAugust 21, 2014 8:57 am
Britains headline index rose on Thursday as gains in pharmaceutical, commercial property and energy stocks offset losses in miners after a preliminary gauge showed manufacturing activity in China growing at the slowest pace in three months in August. The FTSE 100 index stood at 6 773.00 points at 8:50 GMT, up 0.26% on the day, […]
Read moreAugust 21, 2014 8:55 am
The Netherlands-based retailer Ahold, which owns U.S. Stop & Shop stores, reported second-quarter results today, revealing a sizable drop in sales and profits, pressuring shares down some 2%. Q2 sales dropped 14% on an annual basis to €7.42 billion (~$9.86bn), while net profits were down 29% to €147 million. The operating margin declined to 3.9%, […]
Read moreAugust 21, 2014 6:55 am
In an official statement dated August 20th, Hewlett-Packard Co. posted its first sales growth in 12 quarters. The company reported fiscal third-quarter sales that surpassed analysts estimates due to improving sales of personal computers. Ms. Whitman said in an interview for the Wall Street Journal: “Im proud of the change in the trajectory of revenue. […]
Read moreAugust 20, 2014 2:59 pm
Target Corp., the second-largest discount retailer in the US, posted Q2 earnings today to log robust performance in the US and discouraging data from Canada. Investors acknowledged the steady overall sales growth, and put bets on the new leadership, reversing the pre-market share drop. The Minneapolis-based company reported a 1.7% sales increase on an annual […]
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