September 1, 2014 7:35 am
Samsung Heavy Industries Co., the third-biggest shipbuilder in the world, is to merge with Samsung Engineering Co. by the end of the year in a deal estimated at about 2.5 trillion won (~$2.5bn). The move comes as the Samsung conglomerate, or chaebol, is restructuring major businesses in light of new Korean chaebol regulation and a […]
Read moreAugust 30, 2014 6:54 am
Tencent Holdings Ltd, which is currently the biggest listed technology company in Asia, will collaborate with real estate giant Dalian Wanda Group and the biggest Chinese search engine – Baidu Inc to tap Chinas vast e-commerce market. The companies are joining forces in a $814-million e-commerce joint venture to challenge Alibaba Group Holding Ltd, which […]
Read moreAugust 29, 2014 12:59 pm
Telefonica SA, the world’s sixth-largest mobile network provider, said that Vivendi had elected to begin exclusive talks with the company over Telefonicas $9.8bn bid to acquire GVT, Vivendis Brazilian arm. The mostly-cash acquisition bid of Telefonica was favored by Vivendi over Telecom Italias offer of “relevance and quality.” Vivendi SA described the offer of Telefonica […]
Read moreAugust 29, 2014 12:18 pm
Fiat SpA said in a statement today that it will spend less than the initially planned limit it had set to purchase shares from investors, who wanted to sell their stake before the company finalizes its merger with Chrysler Group LLC. The Italian car manufacturer said that the final amount of withdrawal rights is to […]
Read moreAugust 29, 2014 9:50 am
The South African food and goods retailer Massmart Holdings Ltd, majority-owned by Wal-Mart Stores Inc., cautioned of difficulties next year, as consumer spending was hurt by higher interest rates and prices. Missmart Holdings reported a 26% decline in its profit over the first half ended June 29th. According to Missmarts statement, its profit over the […]
Read moreAugust 29, 2014 8:36 am
Tesco Plc, the biggest retailer in the UK, warned that it expects full-year profit to decline, and cut dividend by 75%, sending shares plummeting. The company also hastened the appointment of its new CEO, Dave Lewis. “The business continues to face a number of uncertainties, including market conditions and the pace at which benefits from […]
Read moreAugust 29, 2014 7:21 am
Google Inc. said in a statement that it is developing a system of drone deliveries, so-called Project Wing, and that is has already been tested in Australia, taking its competition with Amazon.com a step further. “Self-flying vehicles could open up entirely new approaches to moving things around – including options that are faster, cheaper, less […]
Read moreAugust 28, 2014 1:26 pm
Bouygues SA, the French construction and telecommunications conglomerate, reported earnings over the first six months of the current fiscal year were down 61% from a year ago, with its telecom business hurt by a price war. Bouygues operating profit before one-time items and restructuring expenses fell 61% to €134 million (~$177 million) on an annual […]
Read moreAugust 28, 2014 12:22 pm
The UK-based chip manufacturer CSR Plc, which is known for pioneering Bluetooth wireless technology, said in an official statement today that it is “considering its options” after rejecting a takeover offer from Chandler, Arizona-based Microchip Technology Inc., sending shares up as much as 39%. “The price proposed by Microchip has been rejected and the board […]
Read moreAugust 28, 2014 9:51 am
The outage of Time Warner Cable Inc.s Internet service on August 27th will raise the scrutiny of its planned merger with Comcast Corp. Governor Andrew Cuomo said in a statement today that the New York State Department of Public Service is to investigate the service disruption as part of the review of the proposed merger. […]
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