September 26, 2014 1:18 pm
DirecTV officially announced the voting results of a shareholder meeting in New York, revealing that its investors overwhelmingly approved the sale of the company to AT&T Inc. The purchase will cost AT&T $48.5bn and according to the companys Chief Executive Officer Mike White is about to be finalised in early April 2015. According to the […]
Read moreSeptember 26, 2014 12:19 pm
The second-largest government-owned lender in the U.K. – Lloyds Banking Group Plc has decided to sell £161 million ($263 million) of shares in TSB Banking Group Plc only three months after floating a 38.5% stake in an Initial Public Offering. Lloyds explained in a statement: “The cash proceeds from the sale will be used for […]
Read moreSeptember 26, 2014 10:09 am
Hyundai Motor Co., South Koreas top car manufacturer, said in a statement today that the notorious 10.55tn won ($10bn) real estate purchase was officially approved by the companys board of directors and two of its affiliates – Hyundai Mobis Co. and Kia Motors Corp. The companies stock plunged since the news of the ludicrous purchase […]
Read moreSeptember 26, 2014 9:10 am
The biggest sports goods manufacturer in the world – Nike Inc. reported that profit in the three months ended August 31st exceeded analysts projections as sales received a boost by the FIFA World Cup tournament. The companys President and Chief Executive Officer Mr. Mark Parker said in a statement: “Fiscal year 2015 is off to […]
Read moreSeptember 26, 2014 8:10 am
Intel Corp. said in a statement on Friday that it intends to spend as much as 9 billion yuan ($1.5 billion) to acquire a stake in state-affiliated Tsinghua Unigroup Ltd in a push to gain a greater foothold in the Chinese mobile chip market. “China is now the largest consumption market for smartphones and has […]
Read moreSeptember 25, 2014 2:08 pm
BP, one of the six “oil majors”, was denied the option to pursue redress over “excessive compensation” the company paid to settle claims over the Deepwater Horizon disaster, limiting what the company could salvage from the legal debacle. As reported by the New York Times, the judge said that the earlier claims “were paid under […]
Read moreSeptember 25, 2014 1:27 pm
The worlds second-largest clothing retailer – H&M Hennes & Mauritz AB reported today that third-quarter profitability fell further and warned that higher garment costs will drag on margins through the end of the year. The company reported quarterly profit in line with expectations but unusually warm weather held back customers from renewing their autumn wardrobes, […]
Read moreSeptember 25, 2014 12:23 pm
GlaxoSmithKline Plc revealed in an official statement today that it will appoint Mr. Philip Hampton as next chairman to succeed Christopher Gent at a time when the company is trying to deal with downbeat sales in the U.S. and a bribery fine in China. Mr. Philip Hampton, currently chairman of Royal Bank of Scotland Plc, […]
Read moreSeptember 25, 2014 10:07 am
The biggest postal service in Europe – Deutsche Post AG will start delivering medicine and other urgent goods to a German island located in the North Sea using unmanned helicopters. The service marks the first routine drone delivery to customers and comes at a time when global companies such as Amazon.com Inc. and Google Inc. […]
Read moreSeptember 25, 2014 9:06 am
BlackBerry officially presented its square-screen Passport phone at events all over the world in a push by Chief Executive Officer Mr. John Chen to attract business users. The Canadian companys new Passport phone is the first new major product launched worldwide since Mr. Chen took over the position of Chief Executive Officer in November 2013. […]
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