April 22, 2014 10:06 am
The acquisition of Nokias handset business has been confirmed by Microsoft Corp. The deal, which is estimated to 5.4 billion euros and was initially announced in September 2013, is expected to be finalized this Friday. It is still not clear if the major handset manufacturing plant located in India will be included in the acquisition. […]
Read moreApril 22, 2014 8:41 am
Novartis AG made an official statement today, saying that it reached an agreement over the acquisition of the cancer-drug unit of GlaxoSmithKline Plc in a 16-billion-dollar deal. The two companies will also form a joint venture by combining their consumer-health divisions, which sell medicines that dont require a prescription. According to the companys statement, Novartis […]
Read moreApril 22, 2014 8:12 am
The biggest lighting company in the world – Philips, which is formerly known as Koninklijke Philips Electronics NV – made an official statement, posting its results for the first quarter of the current financial year. The company revealed its earnings for the first quarter, which missed analysts estimates due to decreased sales and profit that […]
Read moreApril 22, 2014 6:58 am
Netflix Inc., the biggest online-subsription service in the world, made an official statement, revealing that it will increase its streaming services price for new members by a dollar or two on a monthly basis. This is the first price increase of the companys services since 2011. It is supposed to help Netflix pay for its […]
Read moreApril 21, 2014 8:23 am
General Motors Co, the worlds third largest car manufacturer by sales, announced it will invest $12 billion in China through 2017 and build more factories in 2015 as it tries not to fall behind its rivals, and particularly Volkswagen AG. The U.S. car manufacturer expects to achieve sales growth of between 8% and 10% in […]
Read moreApril 19, 2014 7:54 am
After the recent departure of its Chief Executive Officer Bruno Guillon, the British luxury-goods brand Mulberry Group Plc said that it plans to focus on the “affordable” luxury category by reducing its new products prices and offer cheaper handbags in order to increase its sales. Godfrey Davis, who is the Interim Executive Chairman of the […]
Read moreApril 18, 2014 6:44 am
General Electric Co. made an official announcement, revealing that its earnings over the first quarter of the current financial year surpassed analysts estimates. The companys results were benefited by increasing margins in the industrial businesses. The Chief Executive Officer of General Electric Co. – Mr. Jeff Immelt shared that the company found perspectives in most […]
Read moreApril 17, 2014 12:28 pm
People with knowledge of the matter, who asked not to be named, reported that Weibo Corp., which is also known as the Chinese equivalent of Twitter, managed to raise 286 million dollars in its initial public offering in the U.S. The figures did not meet the analysts expectations due to a reduced offering size. The […]
Read moreApril 17, 2014 9:30 am
The largest technology company in Germany – SAP AG – made a statement, revealing its earnings and sales for the first three months of the current financial year that trailed analysts estimates. The companys results were affected by the strong euro. SAP AG, which is known for making managing inventories, financial performance, human resources and […]
Read moreApril 17, 2014 8:38 am
International Business Machines Corp. posted its lowest quarterly revenue since 2009, missing analysts estimates. The disppointing result put extra pressure on Virginia Rometty, the current Chief Executive Officer of the company, who has been recently trying to push IBM to progress, shifting the focus of the company to cloud computing and data analysis. Despite the […]
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