July 1, 2013 11:15 am
European stock benchmarks rose last week after recording first gain in May as factory output fell less than estimates this month. The Stoxx Europe 600 Index added 0.7% at 11:52 a.m. in London. The benchmark added 1.7% last week as China released steps to ease a cash crunch triggered by shadow banking. It has still […]
Read moreJuly 1, 2013 9:09 am
Onyx Pharmaceuticals, the bio-pharmaceutical company developing cancer drugs, rejected an acquisition offer from Amgen the world largest independant bio-pharmaceutical firm for around $10 billion. The company stated it is waiting on better offers from suitors. Onyx noted that recent Amgen offer was not in the best interest of the company and shareholders. Deutsche Bank analyst […]
Read moreJuly 1, 2013 8:31 am
Nokia is buying its best performing business as raising concerns amid investors of companys balance sheet stability. The Finnish firm is acquiring Siemens after both companies took part in a joint venture, in order to introduce stability to its own struggling group of businesses. The venture called Nokia Siemens Networks (NSN) failed to be bought […]
Read moreJuly 1, 2013 7:08 am
Samsung Electronics Co. lost $25.3 billion of market capitalization last month, as sales of its Galaxy S4 smartphone missed investor expectations. After the official release of the flagship model the company that sells nearly one of every three mobile phones declined 9.7%. JP Morgan Chase & Co. and Morgan Stanley both lowered sales forecasts which […]
Read moreJune 28, 2013 2:20 pm
The US Department of Justice said Chinese wind turbine firm stole trade secrets from a American supplier which was qualified by the government as “attempted corporate homicide”. The company called Sinovel was accused of inciting one of the US-based AMSC employees to steal copyrighted source code from a computer in Wisconsin in order to use it for […]
Read moreJune 28, 2013 1:27 pm
HSBC Holdings Plc, the British multinational banking and financial services, downgraded its growth estimates on Friday, pointing risks to emerging markets from the slowing economy of China and the recent news of scaling back Feds bond-purchasing program. “The Fed might be thinking of monetary tapering but, for us, the only tapering is of our growth forecasts,” warned Stephen […]
Read moreJune 28, 2013 12:07 pm
US stock futures traded slightly on the positive side as investors are waiting on important European, Canadian and US data to be issued today. The S&P is probably going to record its best first half of a year from 15 years. The Japanese economy is another reason for economist to turn optimistic of todays market […]
Read moreJune 28, 2013 9:44 am
This is part of companys plans to expand on the operation system software beyond smartphones and tablets. The internet giant is trying to answer the earlier statements by its rival Apple for upcoming innovations. The manufacturing initiative underlines Googles determination to build on the success of Android. The software it launched in 2008 that powered […]
Read moreJune 28, 2013 8:09 am
The company will post results on first quarter ending June 1, today before the market opens. The firm is still officially called Research In Motion at least until June 9 when investors should approve the new title. “BlackBerry’s results this Friday morning may have something for both longs and shorts as positive sell-in data offsets […]
Read moreJune 28, 2013 7:44 am
Nike is facing rising labor costs in its Asian factories which hurt companys profits. have raised to levels forcing company to take action. The multinational manufacturers are also battling a sustained rise in Chinese labor costs. The CFO of Nike Mr Don Blair said, cited by Financial Times: “I think the longer-term solution to addressing […]
Read more