July 8, 2014 8:29 am
Delta Air Lines Inc. decided to reduce the number of flights between the U.S. and Venezuela due to some difficulties related to repatriating revenue. The company made an official statement, revealing that it intends to reduce 85% of its flights to Venezuela starting August 1st. One of the spokeswomen of Delta Air Lines Inc. – […]
Read moreJuly 8, 2014 8:12 am
The online-storage start-up Box Inc. revealed in a regulatory filing with the U.S. Securities and Exchange Commission that it almost doubled its revenue over its most recent financial quarter. The company also managed to raise 150 million dollars from the private-equity firm TPG Capital and the hedge fund Coatue Management LLC in order to become […]
Read moreJuly 8, 2014 7:38 am
Samsung Electronics Co., the largest mobile phone manufacturer, reported disappointing second-quarter earnings on Tuesday. A stable Korean won and fierce competition from ever higher-quality Chinese devices are said to have impacted sales the most. The company revealed that its operating profit declined by about 24% on an annual basis and reached 7.2 trillion won ($7.1 […]
Read moreJuly 7, 2014 2:53 pm
SABMiller Plc, the second-largest brewer in the world, revealed that it will sell its $1.09 billion stake in casino and hotel company Tsogo Sun Holdings Ltd, in a bid to shift focus towards its core business. The company had announced in April that it is considering a variety of strategic options for its shareholding in […]
Read moreJuly 7, 2014 12:50 pm
Archer Daniels Midland Co. (ADM) made an official statement today, revealing that it is to purchase Wild Flavors GmbH in a deal valued at about 2.2 billion euros (3 billion dollars) cash. The acquisition is considered the largest one made by the U.S.-based company up to date. The Chairman and Chief Executive Officer of ADM […]
Read moreJuly 7, 2014 12:29 pm
Telefonica SA, the largest phone company in Spain, made an official announcement that it reached an agreement over the acquisition of the 22% stake of Mediaset SpA in Distribuidora de Television Digital, in a bid to take full control of the pay-TV operator. The deal is estimated at 295 million euros ($401 million). Telefonica SA […]
Read moreJuly 7, 2014 9:41 am
A preliminary agreement between Deutsche Lufthansa AG and Air China Ltd was officially announced today during a visit of the German Chancellor Angela Merkel to China. Both companies are members of the Star Alliance group of airlines. The step by Lufthansa and Air China is to be made in order to expand the commercial ties […]
Read moreJuly 7, 2014 8:47 am
Lets Gowex SA, a Spanish Wi-Fi provider, intends to file for bankruptcy protection. The company also reported that its Chief Executive Officer is leaving, after admitting that he falsified accounts for at least the past four years. The board of Lets Gowex SA announced that it accepted the resignation of its CEO and founder Jenaro […]
Read moreJuly 7, 2014 8:35 am
Goldman Sachs is to start offering loans to its exclusive network of very rich European, Middle Eastern and African clients, in a move to expand into the more secure private-banking sector. The new lending unit has a goal of building up deposits up to $5 billion, mostly from the 1700 wealthiest clients, whose assets the […]
Read moreJuly 5, 2014 6:23 am
Stuttgart, Germany-based premium car maker Mercedes-Benz posted its strongest first half on record as global first-half sales jumped by 13% on the back of strong demand in Asian markets and modest growth in the U.S. Mercedes-Benz, which is a unit of automotive group Daimler AG, reported that it sold 783 520 cars worldwide in the […]
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