May 16, 2014 8:27 am
General Motors Co. made a decision to recall another 2.7 million vehicles in its home market. The recall was undertaken by the company in order to fix a potential problem with brake lights and some other issues. This last withdrawal increased the total number of vehicles General Motors called back in the U.S. to 11.2 […]
Read moreMay 16, 2014 7:37 am
Twenty-First Century Fox Inc., which is owned by Mr. Rupert Murdoch, made a statement announcing that a preliminary agreement with Apollo Global Management LLC was reached. The companies has agreed to merge in order to form a new TV-production venture that is supposed to be the largest one in the world and would consist of […]
Read moreMay 15, 2014 1:34 pm
Vivendi SA made an official statement revealing quarterly adjusted profit that surpassed analysts estimates as its revenue increased thanks to the companys pay-TV business. According to the companys statement, the adjusted net profit increased by 20% and reached 161 million euros (221 million dollars) compared to analysts expectations of a 142.8 million-euro profit. Vivendi also […]
Read moreMay 15, 2014 12:14 pm
Nokia made an official announcement yesterday, saying that about 5000 employees, who work in its Indian factory located in Chennai accepted a voluntary retirement plan when offered. The workers who are to be retired represent about three-quarters of the overall 6600 people working in the companys factory, which is one of the largest ones that […]
Read moreMay 15, 2014 9:30 am
The biggest consumer-electronics retailer in the U.K – Dixons Retail Plc reached a merger agreement with cellphone seller Carphone Warehouse Group Plc. The all-share deal will combine the two companies in a new entity that is estimated to more than 3 billion pounds (5 billion dollars), which is expected to become a leader in the […]
Read moreMay 15, 2014 8:18 am
After spending almost three months describing his strategy for changing the companys culture, the Chief Executive Officer of Citigroup Inc. – Mr. Michael Corbat finally took action. According to a memo to the companys employees, which was signed by the CEO, 11 people were dismissed from their jobs, including four managing directors, in relation with […]
Read moreMay 15, 2014 7:57 am
Cisco Systems Inc., the largest networking equipment manufacturer in the world, posted its quarterly results yesterday. Cisco revealed that the companys revenue in the third-quarter (ended April 26th), fell by 5.5% from a year ago and reached 11.5 billion dollars. This result topped the analysts estimates of a 11.4-billion-dollar revenue. The companys net income for […]
Read moreMay 15, 2014 7:25 am
AerCap Holdings NV finalised its deal with American International Group Inc. over the latters International Lease Finance Corp. The acquisition is estimated to 7.6 billion dollars and is considered to form the biggest independent jet-leasing company. More than 1300 aircraft will be controlled by AerCap Holdings, which will also hold the authority upon a 24-billion-dollar […]
Read moreMay 14, 2014 2:39 pm
The biggest agricultural-equipment manufacturer in the world – Deere & Co. made a statement, revealing that its equipment sales over the second quarter of the fiscal year that trailed analysts estimates. The company also narrowed its forecast for its full-year revenue due to weak dollar against other currencies and a drop in machinery sales. Mr. […]
Read moreMay 14, 2014 1:03 pm
The worlds largest business applications maker SAP AG currently considers its first widespread lay-offs in more than four years, as the companys new strategy is to focus on delivering its products mainly online. One of the companys spokesmen – Mr. Jim Dever – made an e-mailed statement, explaining that the company, which is based in […]
Read more