October 6, 2014 1:31 pm
The second-biggest oil and gas manufacturer in the U.S. – Chevron Corp. announced that it reached an agreement to sell a 30% stake of a Canada-based joint venture at the price of $1.5 billion to a subsidiary of Kuwait Foreign Petroleum Co. The proceeds of the sale are to be used for financing the companys […]
Read moreOctober 6, 2014 12:45 pm
According to a notice to customers published on its website, the movie-streaming venture of Verizon Communications Inc. and Outerwall Inc. – Redbox Instant – will be shut down on October 7th. Rosemary Moothart, Outerwall vice president of investor relations, wrote in an e-mailed statement that the partners in the venture made the decision of shutting […]
Read moreOctober 6, 2014 9:30 am
Tesco Plc revealed in an official statement today that it appointed Mr. Richard Cousins and Mr. Mikael Ohlsson as new members of its board. The transition is to take effect on November 1st. The step is considered part of the companys strategy to strengthen its board at a time when it is dealing with investigations […]
Read moreOctober 6, 2014 9:03 am
According to a person familiar with the situation, the Chief Executive Officer of Hewlett-Packard Co. – Ms. Meg Whitman intends to separate the companys personal-computer and printer units from its enterprise hardware and service business, a move she rejected last year. People close to the companys plans shared that Hewlett-Packard will officially announce the spin-off […]
Read moreOctober 6, 2014 8:20 am
Samsung Electronics Co. Ltd announced that it will invest KRW15.6-trillion ($15-billion) in building a chip plant located in South Korea. The plant, which will be able to make both memory and processor chips, is considered a part of the companys strategy to seek growth in other industries apart from the saturated smartphone segment. The Chief […]
Read moreOctober 3, 2014 1:21 pm
British budget airline EasyJet Plc raised its full-year earnings projection, boosted by lower-than-expected fuel costs and by extra passengers during a recent two-week pilot walkout at Air France-KLM. According to EasyJets statement, the company expects a pretax profit estimated in the range from £575 million to £580 million in the fiscal year ended September 30th, […]
Read moreOctober 3, 2014 12:19 pm
According to people with knowledge of the situation, who asked not to be named because the information is still private, Iliad SA is planning to make a new bid for a larger stake in T-Mobile U.S. Inc., the US division of Deutsche Telekom AG. In July 2014, the France-based company made an offer for the […]
Read moreOctober 3, 2014 10:04 am
General Motors Co. is conducting its 69th recall this year to bring the total number of vehicles pulled back to over 29 million. The largest US car manufacturer is withdrawing a total of 117 651 cars and trucks from the 2013-2014 model years due to a possible manufacturing defect in a chassis control module. GM […]
Read moreOctober 3, 2014 9:16 am
According to a person with knowledge of the matter, cash-strapped electronics chain RadioShack Corp. managed to reach an agreement with a consortium led by Standard General LP to refinance loans estimated to about $590 million to re-stock ahead of the holiday season. In September 2014, RadioShack warned it may be forced to file for bankruptcy […]
Read moreOctober 3, 2014 8:25 am
SoftBank Corp. revealed in a statement it will spend $250 million to acquire a minority stake in closely-held Legendary Entertainment, providing the Japan-based company with online rights to the merchandise, TV and film business of the studio. Tomoaki Kawasaki, an analyst at Iwai Cosmo Securities Co Ltd commented on the companies settlement for Bloomberg: “The […]
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