Archive for September, 2014

iPhone 6 Available Next Month in China

Apple Inc announced it would start selling its new generation iPhone 6 and iPhone 6 Plus next month in China after it agreed to improve the user privacy and security. The new mobile handsets will be on sale starting October 17, said the Cupertino, California based company, after the Ministry of Industry and Technology granted […]

RadioShack Stock Up Amidst Signs of Financing

RadioShack Corp, the chain of consumer electronics stores is trying to stave off declaring bankruptcy. Its shares jumped over 45% after Standard General LP an investor said it was amidst talks on getting new financing for the troubled retailer. Standard General is a hedge fund based in New York and said in a recent filing […]

William Gross Joins Janus From Pimco

William Gross, who was the person responsible for building Pimco into one of the world’s biggest money managers and has been referred to as the bond king, has announced he has quit the company he founded and will now join Janus Capital. Gross’ departure is very surprising and follows a number of months of questions […]

Bed Bath & Beyond Looking Stronger

On Tuesday, Bed Bath & Beyond announced its earnings results for its second quarter. The results met the expectations of Wall Street for the earnings and beat the expectations for same store sales. Bed Bath & Beyond, as with many other retailers, had been suffering during 2014 as an environment of promotions has cut into […]

Mitsubishi Offers Cermaq $1.4 Billion

Mitsubishi Corp, the biggest trading house in Japan, offered to purchase Cermaq the Norwegian fishery for 8.87 billion kroner or $1.4 billion to expand its food business. The offer represents a premium of 14% of the closing price of Cermaq as of September 19, said Mitsubishi on Monday. The headquarters of Cermaq would remain in […]

Russian Brewer Will Acquire Pabst Blue Ribbon

Oasis Beverages the Russia based brewer signed a formal contract to acquire American Pabst Brewing Company, which has been in existence for 170 years. The Pabst Brewing Company produces popular beer brands in the U.S. amongst them is Pabst Blue Ribbon. According to the Oasis Beverage Board Chairman Eugene Kashper, the recipes of the different […]

United Offering Buyouts of $100,000 to Flight Attendants

The only major carrier in the U.S. to post a loss for a quarter this year, United Airlines, is offering flight attendants a buyout for up to $100,000 as it looks to rein in its costs. Employees accepting the early-exit program will receive a lump sum payment, a spokesperson for the airline said. A formula […]

HSBC Confirms Settlement with FHFA

HSBC Holdings has confirmed it reached a multi-million dollar settlement with the Federal Housing Finance Agency. The bank was the most recent financial institute to settle lawsuits based on mortgage bonds that were filed back on 2011. HSBC said it would pay $550 million to settle. A worldwide news journal had estimated earlier that the […]

Increase in People Applying for Unemployment Benefits

More people applied to receive unemployment benefits in the U.S. last week. However, the overall number of applications was low during August, according to data released by the federal government. The U.S. Department of Labor reported that weekly applications for the unemployed were higher by 11,000 to reach a level of 315,000, which is seasonally […]

Rocket Internet Seeking IPO of $967 Million

Rocket Internet the technology giant from Germany announced on Wednesday that it was planning an IPO or initial public offering that could give the company a market value of over 4 billion euros, approximately $5 billion. The announcement is just the most recent step in the company’s meteoric rise. In 2007, Alexander, Marc and Oliver […]

Shop While Tweeting Could Become Commonplace

Twitter wants its users to stop while tweeting. Starting on Monday, the mini-message service will start testing buy buttons on its tweets. A small percentage of users in the U.S. will see those buttons in the apps for Twitter on Android and iOS. Twitter said its users that take part in this test will get […]

FDA Approves Keytruda for Melanoma

In its latest statement, the United States Food and Drug Administration has announced its approval of Keytruda for treating patients that have unresectable or advanced melanoma who do not respond to other treatment. Melanoma is a type of skin cancer and accounts for close to 5% of all new cancer diagnosis in the United States. […]

Lego Moving Closer to Mattel

Lego A/S increased its revenue during the first six months closing the gap between itself and Mattel the leader of the toy industry, as consumer flocked to buy sets thanks to the hit movie at the box office The Lego Movie. Sales were up 11% in the local currency the kroner equal to $2 billion […]

Dollar General Increases Bid for Family Dollar

Dollar General Corp increased its bid to acquire Family Dollar Stores Inc by 2% to a per share price of $80, or a total of $9.1 billion. Dollar General also said it could turn the takeover bid to hostile and appeal to shareholders directly if the new offer they make is rejected. Dollar General has […]